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UK lender Amigo CEO Jennison to step down; CFO Malone named new chief

·1-min read

(Reuters) -British sub-prime lender Amigo Holdings Plc said on Friday its chief executive officer Gary Jennison was stepping down and he would be replaced by current chief financial officer Danny Malone.

Jennison, who was at helm of Amigo for two years, will step down immediately, but continue to stay in the company until the year-end.

Under his tenure, Jennison had to battle insolvency fears after a deluge of customer complaints early last year of the company misselling loans.

Malone, a chartered accountant by profession, was appointed as the interim CFO of Amigo in January after the abrupt departure of finance chief Mike Corcoran.

Kerry Penfold, who is currently the head of finance operations, would takeover as the new CFO, the company said.

The London-listed firm said in June it plans to resume lending after court approved its new business rescue scheme.

(Reporting by Sinchita Mitra in Bengaluru; Editing by Rashmi Aich)