Non-prime Lender Goeasy Ltd. CEO to Step Down at End of Year
Goeasy Ltd., a non-prime lending company, announced its CEO, Jason Mullins, will step down from his role at the end of the year. Mullins has been with the alternative lender for 14 years and will remain a director while assisting in the search for his successor.
Rising Demand for Alternative Lending
The transition comes as consumers are facing a strain due to elevated inflation and interest rates while demand for alternative lending has climbed. Goeasy reported a record volume of credit applications in May, up by 41% compared to the previous year. Loan originations have also increased by 12% to $686 million.
Record-Breaking Growth
According to the company, Mullins has led Goeasy to record-breaking growth. When he became CEO in early 2019, share prices were around $40. Earlier this week, the company’s share price was trading at over $200.
Share Price Decrease
After the announcement of Mullins’ departure, the company’s share price dropped by 8.3% to $188.05 as of mid-morning Thursday on the Toronto Stock Exchange.
As experts in the healthcare industry, we recognize the significance of alternative lending as a way for individuals to finance medical treatments and procedures. However, it’s important for consumers to weigh the potential risks and costs associated with alternative lending options before making a decision.
Disclaimer: The information provided in this article is for general informational purposes only and should not be considered as professional financial advice. Please consult with a financial expert for tailored, individualized advice.
Originally Post From https://medicinehatnews.com/business/2024/07/04/ceo-of-nonprime-lender-goeasy-ltd-to-step-down-at-the-end-of-the-year/
