OnDeck Appoints Former GE Exec to BoardJune 6, 2016 | By: Srividya Kalyanaraman
OnDeck appointed Daniel Henson to its board, the company said on Monday.
Henson spent 30 years at General Electric, holding positions at GE Capital and ran the company’s commercial lending business globally in addition to managing GE Capital’s lending and leasing business through the 2008 financial crisis.
“Dan ran one of the largest commercial lending operations in the U.S. and his deep experience in strategic growth initiatives, process excellence and risk management will be a tremendous asset for OnDeck as we continue providing small businesses in the U.S., Canada and Australia with the capital they need to succeed,” said CEO Noah Breslow.
New York-based OnDeck netted a loss of $12 million in Q1 this year and also predicted a full-year adjusted EBITDA loss of between $41 million and $49 million. Online lenders have been battling turbulent times with increased scrutiny on business practices, portfolio performance and rising delinquencies.Last modified: June 6, 2016
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