International Personal Finance chairman Christopher Rodrigues will step down at the company’s next annual general meeting, the company has announced.
Mr Rodrigues became chairman of International Personal Finance in 2007, went it demerged from parent company Provident Financial. He was previously deputy chairman at Provident.
His departure marks the exit of the last remaining Provident Financial director on International Personal Finance’s board following the company’s listing.
Before joining Provident, Mr Rodrigues was chief executive of Bradford & Bingley for eight years to 2004. He led the building society through its demutualisation to become a bank in 2000.
Dan O’Connor has been named as Mr Rodrigues’ successor. He will join the board as non-executive director on January 2.
Mr Rodrigues said: “We are delighted to welcome Dan O’Connor as a non-executive director.
“He brings with him a wealth of experience, which will help drive the Company’s strategy for growth and transformation programmes forward into the future.”
At its most recent quarterly results, the home credit provider saw strong growth tempered by market and currency costs, with new regulation in Eastern Europe affecting its performance.
The Leeds-based finance company recorded a five per cent growth to £34m profit before tax in its 2014 Q3 results.
This was compared to underlying growth of 21 per cent for the period.