LONDON May 22 UK-based short-term lender Wonga
said on Thursday that Chief Executive Niall Wass will step down
after just six months in the job to take up a position with
Wass, formerly chief operating officer, was appointed CEO
last November, taking over from co-founder Errol Damelin who
opted to step back from the day-to-day running of the business.
Finance director Tim Weller will become interim chief
executive with immediate effect and Wonga said the search for a
permanent replacement was underway.
Wonga has been attacked by critics including the Archbishop
of Canterbury for its sky-high interest rates. It charges an
annual interest rate of 5,853 percent, according to its website.
(Reporting by Matt Scuffham; Editing by Clare Hutchison)