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Amigo boss Glen Crawford quits due to ill health

By Sean Farrell

Date: Friday 14 Jun 2019

Amigo boss Glen Crawford quits due to ill health

(Sharecast News) - Amigo's chief executive Glen Crawford has left due to ill health, leaving the guarantor loans company without a boss until Crawford's replacement gets regulatory approval.
Crawford has resigned with immediate effect to have surgery for a degenerative spinal condition. Hamish Paton, chief commercial officer, is due to take over but has not yet gained approval from the Financial Conduct Authority.

The FTSE 250 company announced Crawford's intended departure on 23 April and said Paton, the former boss of Brighthouse, would be CEO designate. It had planned for a handover of up to three months.

Chief financial officer Nayan Kisnadwala, who has been in place since January, will be the company's only executive director until Paton becomes CEO. In the meantime Kisnadwala will work with the executive committee to manage Amigo day-to-day.

Chairman Stephan Wilke will have more responsibility for dealing with investors, regulators and the media.

Amigo said Crawford will "remain available to advise the board and to continue with the comprehensive handover to Hamish Paton, Chief Commercial Officer and CEO designate, over the next month".

Amigo lends to people with poor credit records who use a friend or relative as a guarantor. Paton spent 12 years at Brighthouse and was its CEO when the FCA ordered it to pay £14.8m compensation to 249,000 customers who were lent more than they could afford to repay.

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