By: 3 December 2020
AX chief executive Lucy Woods to lead CHO as chair

The Credit Hire Organisation (CHO) has appointed Lucy Woods, chief executive of AX Group, as chair.

Woods takes over the role from Kirsty McKno, who stepped down in November after completing her term. Peter Gomes, currently head of business at the trade body, has been appointed interim chief executive.

Woods will chair the newly-created CHO board, whose purpose will be to set strategy for the organisation and work to improve member benefits. Board members are senior figures from across the credit hire sector. 

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).

Woods 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, is little understood by the public, the media and politicians. 

“We want to address that,” Woods 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.”

Woods welcomed Gomes’s appointment as interim chief executive. 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.”