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Johnson quits as Advance America chairman. Instant summary short term loans is these item.

Johnson quits as Advance America chairman. Instant summary short term loans is these item.

Prominent businessman that is local Dean Johnson Jr. stepped straight down Tuesday as president of Spartanburg-based payday home loan company Advance America Inc., citing individual reasons.

Johnson, 67, of Spartanburg are going to be succeeded by co-founder and Advance America vice president William Webster.

“we have actually enjoyed my 11-plus several years of service on Advance America’s board and possess carefully considered my choice to resign,” Johnson said in a declaration. “Advance America is really a wonderful business, and also as a shareholder personally i think exceptionally fortunate that the business is with in good arms beneath the leadership of y our skilled administration group and wonderful set of directors.”

Johnson and Webster founded the ongoing business in 1997. It’s since grown into among the country’s biggest payday lending businesses, with 2,856 facilities and 82 restricted licensees in 35 states, the uk and Canada.

Webster has served as vice president since 2005, and he previously served as the company’s CEO from July 1997 until August 2005 august. He had been chairman from 2000 until July 2004 january.

“I have always been honored to achieve success my pal and co-founder George Johnson as president,” Webster said in a declaration. “we enjoy working closely with this present administration group to bolster our organization’s position into the marketplace that is competitive create value for the investors.”