Scarborough drops chief executive
Wednesday 01 July 1992
The society, among the country's 40 largest, reported pre-tax profits down from pounds 2.3m to pounds 1.6m and loss provisions up by 50 per cent from pounds 2.2m to pounds 3.3m.
Tom Pindar, the society's chairman, said: 'We have reaffirmed our commitment to being a straightforward provider of home loans, a safe haven for savings and an operator of a small range of ancillary revenue-earning activities, notably mortgage administration for other lenders and financial counselling.
'After considerable thought and discussion it has been agreed that we will release Mr Turley, who is to operate as an independent consultant.'
Mr Turley, who was at the society for three years after leaving Skipton Building Society, was not available for comment.
John Carrier, his former deputy, takes over as chief executive. Mr Carrier joined the society six years ago from the Leeds Permanent.
He said: 'We will remain an independent society and develop our existing businesses.'
John Wriglesworth, building society analyst at the stockbroker Phillips & Drew, said: 'The results are disappointing but they are not in the rescue league.'
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 4 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 5 Apple and Google users being spied on for a decade because of 'Freak' security flaw
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...
£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...