Wonga parts ways with CEO Tim Weller after just six months
Troubled pay-day loans company Wonga has waved off its interim chief execuitve Tim Weller after just six months in a bid to "ensure clear leadership" at the business.
Weller, who joined Wonga in May left the company last month, after being brought in to replace former chief executive Niall Wass who also lasted just six months in the role.
Wonga group chairman, Andy Haste, who came on board in July to "repair" the company's reputation, and announced Wonga would axe its puppet ads, said in a statement Weller's departure was made "in a mutual decision".
“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 interim CEO in October. This was a mutual decision, following a comprehensive handover, and will ensure clear leadership in the weeks and months ahead."
Before taking on the role of chief executive, Weller spent three years in the business as chief financial officer.
Wonga is currently in the process of searching for a new group CEO, with Tara Kneafsey set to join in December as managing director.