For­mer Amigo boss walks away from a re­turn to lender

The Daily Telegraph - Business - - Business -

◆ Amigo Loans’ chief-in­wait­ing has re­signed af­ter a dis­agree­ment with a ma­jor­ity of the board, writes Michael O’Dwyer.

Glen Craw­ford told the high in­ter­est lender he no longer wished to re­turn to the board and his con­tract was ter­mi­nated with im­me­di­ate ef­fect, the com­pany said.

Mr Craw­ford had been await­ing reg­u­la­tory clear­ance to re­turn as chief ex­ec­u­tive af­ter re­sign­ing last year due to health prob­lems. Amigo lends up to £10,000 to bor­row­ers with low credit rat­ings pro­vided a friend or rel­a­tive agrees to step in if they fail to re­pay.

Amigo said it would ap­point Gary Jen­ni­son as chief ex­ec­u­tive sub­ject to ap­proval by the City reg­u­la­tor. Mr Craw­ford’s de­par­ture is a blow to the lender just days be­fore a show­down with its founder James Be­n­amor at a share­holder meet­ing.

The founder is at­tempt­ing to in­stall him­self as chief ex­ec­u­tive and turn around the com­pany.

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