Shares in Amigo Loans rallied after it the guarantor lender announced three new CxO level appointments.
The appointments were for Paul Dyer Chief Risk Officer, subject to FCA approval, and Shaminder Rai as Chief Transformation Officer. Mike Corcoran will join the Board as Chief Financial Officer (CFO) elect, subject to approval by the FCA.
Complimenting the skillset of the new hires as Amigo Loans battles a mountain of complaints, CEO Gary Jennison added:
“I am delighted to welcome Mike, Paul and Shaminder to Amigo. Mike joins with extensive business and regulatory experience and has proven success in turning around regulated businesses. He will be a valuable addition to our Board.”
“All three appointments reflect the Board’s commitment to addressing rapidly the challenges that we face, to creating long-term value for our shareholders and to returning to provide the chance of financial inclusion to the millions of people in the UK unable to access credit from mainstream lenders.”
Amigo shares are currently trading at 8p with a 15 percent surge today – bouncing back from below 6p a few days ago.