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Egg boss resigns

The chief executive of credit card firm Egg has resigned, it has been announced.

Ian Kerr has now been replaced by Bert Pijls at the internet bank, which is one of the UK's biggest providers.

Egg caused controversy earlier this year when it cancelled the cards of 161,000 customers following what the provider termed a risk review.

However, several customers have since come forward claiming that, far from borrowing a dangerously high amount, they had paid off their accounts every month.

In turn, this had led to accusations that Egg was deliberately cutting off people that it was not making money from through interest payments on money owed.

The bank said that the resignation had nothing to do with the recent risk review, the Press Association reports.

Labour MP Nigel Griffiths, who has previously criticised the card cut-offs, welcomed the news.

"Egg presided over a PR disaster, withdrawing cards from thousands of perfectly respectable customers and failing to give full and honest reasons," he said.

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