Flexigroup Limited (ASX: FXL) – Stock Slumps on New Chief Executive Appointment

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After putting three dedicated years of leadership in FXL group, Chief Executive Officer Symon Brewis- Weston decided to step down from the position with effect from 3 September 2018.

Following to Symon’s resignation Australia’s financial services giant Flexigroup Limited announced the appointment of Rebecca James as the Chief Executive Officer effective from 15 October 2018. Until then, Flexi Group’s Chief Financial Officer, Ross Aucutt is slated to take over the office of Chief executive.

Chief Marketing and Enterprise Officer of Prospa, an online lender, Rebecca James holds remarkable experience in financial services and consumer brand building. Previously, working with ME Bank she led the expansion of business from a mortgage originator to a full-service retail bank scaling the customer base up by 40%. Rebecca James also possess the exceptional 15 years of experience working with Australia’s largest independent customer base agency Lavender.

“Rebecca James is an extremely capable executive with significant financial services experience. The Board has been particularly impressed by her ability to create and commercialise innovative digital solutions in financial services which will be a key addition to Flexigroup’s skill base” stated FlexiGroup’s chairman, Andrew Abercrombie.

Thanking Symon Brewis-Weston the company acknowledges the growth in their Australian and New Zealand Card business under the term of his leadership.

Mr Abercrombie also confirms the appointment of Christine Christian as Deputy Chairman to the board of Flexigroup. However, Christine will continue in her role as Chair of the Board’s Risk and Compliance Committee, as informed by Mr Abercrombie in the announcement of board appointment.

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Following to the recent update, FXL stock fell by 13.07% to $1.982 on August 06, 2018, before market close.

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