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┬ámanaging 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┬ápredicted 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
As editor, Srividya drives daily news coverage and editorial strategy. Previously, her work has appeared in publications like Money magazine, Advertising Age, FirstPost and The Economic Times. She has also dabbled in business intelligence solutions, and holds a Masters degree in Business and Economic Reporting from NYU. Write to her at firstname.lastname@example.org