(Sharecast News) - Provident Financial's chief executive Malcolm Le May is taking time off to have a heart operation, leaving chairman Patrick Snowball in charge of the subprime lender until he returns.
The FTSE 250 company said the operation was planned and would take place in late September. Le May is expected to return to his job in November, the company said.
Snowball will run the company as business starts to pick-up after Provident suspended new doorstep lending during the Covid-19 crisis.
Provident Financial said: "The board of Provident Financial plc wishes to announce that Malcolm Le May, group chief executive, will be taking a short leave of absence from late September to undertake a planned heart procedure. Malcolm is expected to return to his position in November."
Le May, a former Barclays and UBS banker, became chief executive in February 2018. He took over running the lender after the sudden death of Chairman Manjit Wolstenholme and steadied the business after a series of profit warnings that threatened its future.
24 Mar 2022 08:35
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