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Wonga Group announces CEO transition

Wonga, the digital finance Group, today announced the departure of Niall Wass, its CEO, who will leave the business in the next few weeks to take a position at another company.

Wass, who has been CEO since November last year and joined the Group as chief operating officer in January 2012, has agreed with the Board that he will stay for a handover period to ensure a smooth transition of duties.

Tim Weller, currently Group CFO, assumes the role of interim CEO with immediate effect. He has been with the company since March 2012 and will oversee the day-to-day running of the business. The search for a permanent replacement is already underway, led by the Board.

Niall Wass said: “My time with the company has been busy and productive, seeing Wonga launch in several new markets, but we’re now at the beginning of a new chapter and I felt the time was right to take a new opportunity elsewhere. There are some exceptional people here and Tim is inheriting a strong team.

Tim Weller said: “I’m looking forward to continuing my work with the great Wonga team. As we move to a new regulatory environment in the UK we are actively engaged with the FCA and committed to building better products for our customers. We will also continue our expansion into new product areas and countries.”

“We wish Niall all the best for the future and thank him for his many contributions over the past couple of years.”

Before joining as Wonga’s CFO, among other roles, Weller was twice previously a CFO at Nasdaq-listed companies EnerNOC, Inc, a leader in clean energy technology services, and Akamai Technologies, a pioneer in content delivery and cloud infrastructure services.

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