Following a Board meeting the Money Advice Service have confirmed that Tony Hobman has stepped down as chief executive.
Hobman’s resignation comes just weeks after he and MAS chairman Gerard Lemos faced scathing criticism from the Treasury Committee over their management of the Service and the remuneration levels they received.
Hobman said:
“I have enjoyed my time here and am proud of the turnaround of the organisation and the imminent upgrade to the Service.”
“It has a crucial role to play in the financial wellbeing of the country and I am pleased to have been part of it. I will leave with mixed feelings but am reassured in the knowledge that the Service employs dedicated people working very energetically and creatively to help the millions of people who fall into the advice gap every day.”
The MAS said in a statement that it would conduct an immediate review of the future role and remuneration of the chief executive, and intends to identify a successor to Hobman by the autumn.
Lemos added:
“I am very grateful for all that Tony has done over the past two years. He has brought the organisation through a challenging transformation period and overseen the initial and forthcoming upgrade to the Service which sets us on a path to reach over 11 million people annually in five years time. We wish him well for the future.”
