British subprime lender NSF’s founder steps down as CEO

British subprime lender Non-Standard Finance said on Tuesday founder and Chief Executive Officer John van Kuffeler will step down from the role with immediate effect, handing over the reins to current finance head Jono Gillespie.

“Given the pending recapitalisation of the company, we have agreed with John van Kuffeler that we should accelerate the long-planned leadership change and appoint Jono Gillespie as Group CEO prior to commencing meetings with investors,” Chairman Charles Gregson said.