Lucy Woods Appointed Chair of the CHO
Lucy Woods, chief executive of AX Group, has been appointed chair of the Board of the Credit Hire Organisation (CHO), following Kirsty McKno, who stepped down in November. Peter Gomes, currently head of business at the trade body, has been appointed interim chief executive.
Lucy will chair the newly-created CHO Board, whose purpose will be to set strategy for the CHO and work to improve member benefits. Board members are senior figures from across the credit hire industry.
The CHO was first formed in 2010 from a merger of the Accident Management Association (AMA) and the National Association of Credit Hire Organisations (NACHO).
Lucy said: “The Board thank Kirsty for her service to the industry and look forward to building on her legacy. The credit hire sector provides an invaluable service to consumers needing mobility after a road traffic accident and as we prepare for the future of the industry and the challenges it faces over coming years I want the Board to play an active and constructive role in identifying strategies that strengthen the industry and its professionalism.”
She explained that despite CHO members helping hundreds of thousands of consumers every year, credit hire, and the value it brings to consumers, the industry is little understood by the public, the media and politicians.
“We want to address that,” she said, adding: “In its investigation into credit hire that concluded in 2014, the Competition and Markets Authority (CMA) found that credit hire added around £3.50 to the overall cost of a motor policy.”
“For that £3.50, consumers involved in an accident can access an equivalent vehicle while their own is off the road. It means mums and dads can take their kids to school, or get to work, or do their shopping. It is a worthwhile price to pay for being able to lead a normal life in difficult circumstances, and our members are proud of their role in delivering this vital service.”
Lucy welcomed Peter Gomes’ appointment as interim CEO. She said: “Peter has done a good job as head of business for the CHO, and I’m delighted he has agreed to accept this position.
About Lucy Woods
Lucy Woods is currently Group CEO of AX (previously Accident Exchange), she has led AX through the rebuilding of its strategy and approach to market, delivering significant growth over the past few years.
Lucy graduated in Engineering from Imperial College and spent much of her career in the telecommunications sector where she is credited with substantial turnaround success managing both medium and large Telco’s, both in the UK across Europe and to some extent Middle Eastern and African territories back to profitability.
Previously Lucy served on the Patten Commission for Policing of Northern Ireland (part of the Northern Ireland Peace Agreement), as a non-executive for Digiweb Holdings (Ireland) and as Chair of the Institute of Telecommunication Professionals. She is UK finalist in the EY Entrepreneur of the Year Award for 2020.
Lucy is a currently also a non-executive director for Newrotex Ltd (Nerve Regeneration) and Shared Access LLC (Mobile Towers).
About Peter Gomes
Peter Gomes joined The CHO in August 2019. Over the past year, his focus has been the consultation with members as integral part of the review of the organisation’s governance process which in turn has led to the adoption of a new constitution and the establishment of a Strategic Board comprising CEOs of member businesses.
Peter graduated in Mathematics from Sheffield University, and qualified as a Chartered Accountant. Following fourteen years in public practice, he has held senior financial and operational roles in several sectors. His experience of credit hire includes seven years as CFO of Swift Prestige Hire and five years at Helphire (now Auxillis) part of Redde Northgate plc. His most recent role was six years as CFO to telematics business and associate member, Trak Global Group (now IMS).