Shareholders say Humm board should quit over ‘muppet show’

Some shareholders in Humm Group have called for the board to resign over the collapse of the sale of its consumer finance business to Latitude Financial, describing the majority board’s actions as “a muppet show”.

After weeks of telling shareholders to accept the deal or risk being stuck with a poor-performing consumer finance business (HCF), the Humm board said it had mutually agreed with Latitude to terminate the sale of its credit cards, instalment pay and buy now pay later assets.