Wonga founder Errol Damelin quits as company director

Payday loans

Decision comes a week after Niall Wass, who replaced Damelin as chief executive, quit role

A founder of the payday lender Wonga, Errol Damelin, has quit as a director of the company, just seven months after stepping down as chief executive.

His decision to go leaves the UK’s biggest payday lender without a permanent chief executive or chairman, as the industry is poised to enter a period of tighter regulation.

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