Wonga chief executive resigns after six months
Thu, 20th November 2014

Wonga chief executive resigns after six months

Newcastle United's shirt sponsor Wonga is searching for a new chief executive after Tim Weller became the third boss in a year to resign.

Weller lasted six months in the job at the payday lender, the same time as predecessor Niall Wass.

Wass took over from Errol Damelin last November.

Group chairman Andy Haste said he would now be taking on a more hands on role in leading the business.

"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," he said.

"Tim Weller therefore stepped down as interim chief executive 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."

Haste added that the search for a permanent group chief executive is "well underway", while the company's new UK managing director Tara Kneafsey is due to join in December.

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category North East  |  source Insider Media