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This morning, Provident Financial has announced that the company’s executive chairman, Manjit Wolstenholme, passed away yesterday.
In a statement that was made this morning, the company said that Wolstenholme had suddenly passed away at the age of 53, on Thursday, November 23.
In the statement, the senior independent director, Malcolm Le May, stated: “We are deeply shocked and saddened. The thoughts of everyone at Provident are with Manjit’s family and friends, and we extend our deepest sympathies to them.”
He continued: It was a great privilege to know her personally and to work alongside her over the last few years.
“She has shown exceptional leadership in stepping up to the role of executive chairman over the last few months.
“Manjit was known and respected for her achievements and championing diversity in British business, and we would like to pay tribute to her contribution to the business landscape.”
The board of the company has appointed Le May as the interim chairman of Provident Financial “with immediate effect.”
Wolstenholme was trained as a chartered accountant. She worked at Dresdner Kleinwort for 13 years, where she became the co-head of investment banking. She also became a non-executive director of Future Publishing in 2011.
In 2007, Wolstenholme was appointed to the board of Provident and became its chairman in 2014. She had also served as the chair of Cala Homes, a director of the Unite Group and CMC Markets.
In May, she revealed her intention to retire from her role at CMC Markets in July “due to personal reasons.”
The chairman of Unite Group, Phil White, stated: “This is terribly sad news and our sympathies are with Manjit’s family at this difficult time. It was a pleasure working alongside Manjit over the last seven years, and she will be very much missed.”
Provident Financial’s board said that it would review the senior independent director position in due course.