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CLH chief makes a sudden exit

The board of receivables management company Collection House appointed its chief executive Anthony Rivas two a second three-year term in June. But yesterday it announced that the CEO had resigned, effective immediately.Chief financial officer Doug McAlpine has been appointed CEO.The company did not give any reason for Rivas's sudden departure and it is hard to see one in the company's recent performance. Revenue was up 12 per cent and net profit 16 per cent in 2018/19 and the company had made some acquisitions.In January it took over Receivables Management (NZ) Ltd in a A$13 million deal that marked its entry into the New Zealand market, and in March it paid $40.3 million to acquire debt buyer and collection agency ACM Group.

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