Lending Club’s CFO Carrie Dolan Resigns Amidst Dwindling Revenues

Lending Club (NYSE:LC), a Peer-to-Peer (P2P) Peer-to-Peer (P2P) Peer-to-peer (P2P) is defined as the distribution of computing, networking, or payment architecture that partitions tasks or workloads between peers. In this instance, peers are equally privileged, equipotent participants in the application. Peers make a portion of respective resources, such as processing power, finances, etc. directly available to other network participants, without the need for central authority.P2P payments include popular money transfer apps such as like Venmo, PayPal, and C Peer-to-peer (P2P) is defined as the distribution of computing, networking, or payment architecture that partitions tasks or workloads between peers. In this instance, peers are equally privileged, equipotent participants in the application. Peers make a portion of respective resources, such as processing power, finances, etc. directly available to other network participants, without the need for central authority.P2P payments include popular money transfer apps such as like Venmo, PayPal, and C Read this Term) lender, has continued shaking up its operations, following a Q2 loss for the group. Carrie Dolan has relinquished her role as the group’s Chief Financial Officer (CFO), snapping a six-year stint with the company, according to a Lending Club statement.

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Much of the upper cadre of Lending Club’s (NYSE:LC) leadership team has been in a state of flux in recent months, with the company’s revenues diving. Apart from a loss of nearly 180 jobs back in June, Lending Club’s relied on the services of interim CEO, Scott Sanborn, a company mainstay after the snap resignation of the previous incumbent and founder Renaud Laplanche.

Revenue Woes in Focus

For her part, the latest woes facing the company’s earnings has promoted the departure of Carrie Dolan, who resigned from her role as CFO to pursue other opportunities. As such, Lending Club appointed Bradley Coleman to Principal Accounting Officer and Interim CFO with immediate effect.

Mr. Coleman had served as Lending Club's corporate controller since 2013 and will retain his responsibilities in that role whilst satisfying his new duties. Ms. Dolan joined Lending Club in 2006 from Charles Schwab, having worked in a similar role for over two years. Additional roles include multiple VP roles at Charles Schwab dating back to 2000, according to information made public on her Linkedin profile.

Lending Club’s (NYSE:LC) share prices have taken a nosedive in premarket trading following the quarterly announcement. At the time writing, (NYSE:LC) shares are trading at $4.6 ahead of the US open Tuesday.