The boss of guarantor lending firm Amigo will be replaced by chief commercial officer Hamish Paton after stepping down due to ill-health.
Glen Crawford resigned as chief executive officer and executive director of the firm to undergo medical treatment for a degenerative spinal condition.
Crawford, who initially raised his intentions to leave the firm because of health concerns in April, has left the role with immediate effect.
He has led Amigo since October 2015, growing the business “substantially” and leading its float on the London Stock Exchange last year.
The FTSE 250 firm has seen its shares rebound in recent months, after it started its tenure on the index with a period of steady decline.
It currently sits marginally above its IPO price of 275p per share.
Last month, the lender said it will fight back against “urban myths” about the business after financial regulators warned of a crackdown against guarantor lending companies.
Amigo lends to people who struggle to secure loans from mainstream banks, by allowing friends or relatives of the customer to act as guarantors.
Paton will take over as the chief executive officer and executive director next month.
