NSF.L Regulatory News (NSF)

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Non-Standard Finance plc

('NSF', 'Company' or 'Group')

Directorate change

31 August 2021

The Board of NSF announces that John van Kuffeler will step down from his role as Group Chief Executive Officer with effect from 31 August 2021 and will cease to be a Director of the Company.

Jono Gillespie has been appointed as the new Chief Executive Officer of the Company with effect from 31 August 2021 and a process is already under way to appoint a replacement Group CFO. In the meantime, Jono will continue to take responsibility for Group finance, supported by our excellent subsidiary CFOs and the Group team.

Jono has almost 25 years' experience in the non-standard consumer finance sector and has worked at NSF plc for just over five and half years. He most recently served as the Company's Group Chief Financial Officer, having previously been the deputy CFO. Before that he was CFO at Loans at Home, the Group's home credit business that he joined in January 2016. 

Prior to joining the Group, Jono was at Provident Financial plc where he had held a number of senior management positions in the Consumer Credit Division including CFO (six years) and Chief Information Officer (four years) and so has extensive financial and technology-related experience from working in the sector for many years. Since joining the Board, Jono has been involved in all aspects of the business and ensured we remain on course to complete a substantial capital raise as planned.

Charles Gregson, Chairman of NSF plc said:

"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. I would like to thank John for his vision in establishing the business, his tireless championship of access to credit for all, and his commitment to our customers and staff, especially through the challenges of the pandemic." 

John van Kuffeler said:

"Having hired Jono Gillespie into Loans at Home and supported him into the Group CFO role, I am delighted that he will become the new CEO of NSF. Jono has been heavily involved in all aspects of the key workstreams as we work towards the execution of a substantial capital raise and as founder of the business, I am confident in his ability to lead the Company out of the pandemic and into the future."

Jono Gillespie said:

"I am looking forward to leading NSF through the next phase of development, starting with a substantial capital raise, that will transform the Group's prospects and enable us to make the most of the UK economic recovery for the benefit of our customers, employees, agents and shareholders."

This announcement contains inside information. The person responsible for making this announcement on behalf of the Company is Peter Reynolds.

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