Wonga boss quits

20 November 2014

wonga ladies Just six months into the job, Wonga's new boss has quit. Funnily enough, the previous boss lasted six months in the job as well.

Tim Weller was the last senior executive at the payday lender who was appointed by Errol Damelin, the company’s controversial founder who jacked it all in back in June.

Andy Haste has now taken over the day-to-day management of Wonga, and he says: "At a critical time for Wonga, when we will complete our forbearance programme, prepare to apply for FCA authorisation and introduce a cap-compliant product, I'm taking an even more active role in leading the business."

"Tim Weller therefore stepped down as CEO in October. This was a mutual decision, following a comprehensive handover, and will ensure clear leadership in the weeks and months ahead. I want to thank Tim for his three years in the business as chief financial officer."

"Our search for a permanent group CEO is well underway and Tara Kneafsey, our new UK managing director, will join us in December."

Running Wonga is a tough gig at the moment as, only last month, they were forced to write off £220m of customer debts after they admitted they'd be wrong in lending money to some 330,000 people. While they were at it, they also axed interest charges for another 45,000 customers.

TOPICS:   Banking   Debt   Loans

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