UK Money News
12th March 2008
Egg boss announces resignation
The head of internet bank Egg has resigned in the wake of a storm of controversy over the withdrawal of credit cards.
Earlier this year Egg confirmed it was to withdraw the credit cards of 161,000 whom it deemed to be risky.
This prompted a wave of protest from customers who said they had been informed they were to lose their card despite the fact that they had good credit ratings.
Now Ian Kerr, who presided over the move, has announced he is step down with Citigroup country manager in the Czech Republic Bert Pijls expected to take his place.
However, Egg denies that Mr Kerr's decision to leave the company was related to the incident.
Commenting on developments, Labour MP Nigel Griffiths' told The Associated Press: "Egg presided over a PR disaster, withdrawing cards from thousands of perfectly respectable customers and failing to give full and honest reasons.
"I warned the company that their letter to customers was a serious mistake and urged them to make public a full explanation. Sadly my advice was ignored."
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