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Feb 2 (Reuters) - Troubled doorstep lender Provident Financial has appointed acting chairman Malcolm Le May as its CEO with immediate effect, the company said on Friday.
Le May, who was appointed to Provident's board in 2014, fills a position that has been open since August, when a second profit warning in quick succession prompted the departure of CEO Peter Crook and suspension of its dividend.
The British sub-prime lender has been hit by unresolved problems at its door-to-door lending operation, with the group's woes compounded by investigations by Britain's financial watchdog into two of its businesses.
Le May said that his key objective is to execute a turnaround of the group, resolve the regulatory issues and continue progress being made at its home credit business.
The company said the home credit arm "continued to make good operational progress" and that talks continue with the Financial Conduct Authority relating to investigations of its Vanquis Bank and Moneybarn businesses.
Provident expects to report a loss of about 120 million pounds ($171 million) in its consumer credit division for 2017 as it struggles to win back customers after the problems at its door-to-door lending business.
The company, which was founded in 1880 and provided loans through the Wall Street crash of 1929 and both world wars, first warned about problems at its door-to-door lending operation in late June after a botched reorganization led to a shortage of staff.
Senior independent director Stuart Sinclair will take over as acting chairman as the company begins the process of appointing a new external chairman, Provident said on Friday. ($1 = 0.7014 pounds)
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by David Goodman)