Embattled lender makes trio of board appointments

Morses Club, the Nottingham-based sub-prime lender, has made a triple board appointment.

Steve Curtis will join the board with effect from November 5 in the role of interim chair (non-independent). He was instrumental in the flotation of Morses Club on the AIM market in 2016 and since April has been helping the company in a strategic advisory position.

Sheryl Lawrence will take on the role of deputy chair on the same date, in addition to her roles as senior independent director and chair of the Audit Committee.

Meanwhile, Terry Baxter will join the board on November 5 as an independent non-executive director and chair of the Risk Committee.

The trio join the firm as it tries to recover from a series of blows and warnings that the company could enter insolvency unless it agrees a Scheme of Arrangement after it had suspended processing claims made against its “unaffordable” loans.

Gary Marshall, chief executive officer of Morses Club, added: “We are delighted that both Steve and Terry have joined the board during this period of significant change. Steve’s wealth of commercial experience, both directly in the credit sector and in wider consumer sectors, is directly relevant to Morses Club’s future business and funding strategy as we continue to work up the detail of a potential Scheme of Arrangement. Sheryl’s appointment as deputy chair, in addition to her other roles, adds further independence to the board and Terry’s appointment brings particularly relevant experience during a period of transformation for the business.”