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Provident Financial makes further board changes after executive chairman's death

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Provident Financial makes further board changes after executive chairman's death

Provident Financial Plc said interim Executive Chairman Malcolm Le May will lead its search for a new CEO, following the death of Executive Chairman Manjit Wolstenholme.

Le May was appointed interim executive chairman of the company on Nov. 24, following Wolstenholme's death the previous day. Le May had been senior independent director, a role that will now be taken over by Stuart Sinclair with immediate effect.

Le May will also become chairman of the nomination committee but stand down as chairman of the remuneration committee with immediate effect, with Andrea Blance to replace him in this position.

Wolstenholme had served as executive chairman since former CEO Peter Crook stepped down after the company announced the withdrawal of its dividend and a regulatory investigation into its Vanquis Bank unit, part of a series of events that triggered a 66% one-day fall in its share price.