Finexia Interim CEO Resigns Amid Review

Finexia Financial Group Limited (ASX: FNX) announced the resignation of Marc Duncan from his position as Interim Chief Executive Officer, effective immediately. Duncan’s appointment was temporary, filling the vacancy left by the previous CEO, Patrick Bell, in February. The Board expressed gratitude for Duncan’s contributions during what it described as a critical transition period for the company. Simultaneously, Robert Spano, a Non-Executive Director with over 35 years of credit and financing experience, has been actively involved in a comprehensive review of Finexia’s credit operations. This review encompasses credit policies, approval processes, documentation standards, loan monitoring, and collection procedures. Spano will remain involved, supporting the executive team as the Board contemplates its next steps. The company emphasized its commitment to reinstating its securities for trading on the ASX. Finexia will provide updates to the market in accordance with its continuous disclosure obligations under Listing Rule 3.1.