Provident Financial appoints Just Group's Simon Thomas as new CFO
Doorstep lender Provident Financial has appointed Simon Thomas - who was group chief financial officer at retirement income specialist Just Group until last week - as its new chief finance officer with effect from 3 December.
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Current finance director Andrew Fisher will step down from the board when Thomas takes up his appointment, but will remain with the company for three months to provide an orderly handover.
Provident said Thomas has a strong financial services background, including consumer, retail banking and insurance experience.
Chief executive officer Malcolm Le May said: "I am delighted Simon Thomas has been appointed as the new chief finance officer. I look forward to working with him as we drive Provident Financial forward. On behalf of the board I would like to thank Andrew Fisher for his immense contribution, not only as finance director, but also as a board member whose knowledge and insight has been invaluable to the group over many years."
Andrew Fisher said: "Over the last 18 months Provident Financial has come through a very difficult period. With the company's capital and liquidity position restored to one of strength, I have agreed with the board that now is an appropriate time to step down as finance director."
Shore Capital analyst Gary Greenwood said: "We think Mr Fisher will be a tough act to follow given his significant experience with, and knowledge of, Provident, having been in the CFO role since his appointment in 2006. For most of this period he enjoyed significant success with the group, although more recent times have been notably more challenging.
"We are not surprised to see Mr Fisher leave at this juncture given the broader management revolution that is ongoing at Provident, with the appointments of a new chairman (Patrick Snowball), Chief Executive (Malcolm Le May) and now a new CFO, within the past year."
At 0805 GMT, the shares were down 0.1% to 536.80p.