Third Wonga chief fails to last the year

The crisis-hit payday lender Wonga has lost its third chief executive in a year.

Tim Weller, who took over as interim chief executive in May, is understood to have left the role in October, but his departure was only revealed yesterday in company filings.

Sources say Mr Weller’s exit was by mutual consent and he will be available to advise the board.

Mr Weller took over from Niall Wass, who himself only lasted six months in the job. Mr Wass took over from Wonga’s co-founder Errol Damelin, who stepped in as part-time chairman last November at the same time as co-founder Jonty Hurwitz left the business.

Andy Haste, the former RSA boss who joined as chairman in July, said he is taking “an even more active role in leading the business”.