Resignation scuppers Together Finance succession plan
Specialist lender Together Finance is once again looking for a new chief executive to take over from Henry Moser after the surprise resignation of Gerald Grimes.
In a statement to the stock market this morning Together said “Gerald Grimes has decided to step down from his role as CEO Designate of Together in spring 2024 to pursue other personal ambitions”.
Mike McTighe, Chairman of Together commented: “Gerald has been a valued colleague and senior executive with Together for four years and leaves with the appreciation of the Board for his significant contribution, helping Together deliver continuing success and building a platform for sustainable growth despite the challenging economic backdrop of recent years. He leaves with our best wishes for his future.”
The company has commenced a process to appoint a successor.
Grimes worked closely with Henry Moser, the founder and group CEO, and was expected to transition to the formal title of group CEO, after a extended transitional period of 12 – 18 months at the end of which Moser was expected to step down but remain an executive director of the group board.
At the time, the intensely private Moser gave a rare public statement welcoming Grimes to the role but explaining his long term intentions: “Having founded this company many years ago, it is now time for me to think about succession and take a small step back. I intend to remain actively involved in the business whilst ceding my CEO role to Gerald after a sensible transition period. Together is a special business with a unique character and culture. Gerald understands that and is the right person to take the group forward.”
Grimes joined the business as the Group CEO Designate, a board level role, in April 2020 after a 30 year career with Barclays, GE Capital, The Funding Corporation, Hitachi Credit and PCF Bank.
In addition, he has, until recently, served as a board director of the Financial Leasing Association (previously Chairman), as a member of the Bank of England Advisory Board, and has an advisory role with the FCA Small Business Practitioner Board.
