Simon Featherstone will leave his position as global chief executive of Bibby Financial Services on August 5 to pursue other career opportunities.

David Postings, Bibby’s UK chief executive, will take over as global CEO on an interim basis, while maintaining his UK responsibilities, until a permanent appointment is made.

Featherstone has been at Bibby for four years. “With the installation of a new operating system nearing completion, refinancing of the UK business in its final stages, growing global sales and a strong management team in place, I feel that now is a great time to move on to my next challenge,” he says.

Michael Bibby, managing director of Bibby Line Group, adds: “Simon’s drive has enabled [Bibby] to invest in new technology, new markets, and to consolidate its position at the forefront of asset based finance in the UK and many overseas territories.”

Bibby specialises in SME financing, with 10,000 clients worldwide. The company operates in 50 locations across 16 countries.