Nest CEO to stand down

Nest has confirmed that it has begun the recruitment process for a new chief executive offcer following Tim Jones’ (pictured) decision to stand down at the end of 2015.

Jones Tim-Nest-2015

Jones is leaving to develop a global digital money product in 2016.

Otto Thoresen, chair of Nest, said: “As the first chief executive officer of Nest, Tim has done a fantastic job. He has successfully taken Nest from the early stages of development through to the first key stages of delivery and established it as an integral part of auto-enrolment in the process.

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“Tim’s long-standing interest in digital money is well known, and we all wish him every success with his new project. I look forward to working closely with the team at Nest over the next few months as we get ready to welcome a new chief executive officer and see the next stages in the story of auto-enrolment unfold.”

Jones said: “After almost eight years as chief executive of Personal Accounts Delivery Association and then Nest, the time is right for me to pursue a longstanding ambition to develop a global digital money product.

“I’m very proud to have played a part in establishing Nest, and helping millions more people to save for their retirement.

”By giving early indications of my intentions I hope I’ve demonstrated my on-going commitment to Nest and my desire to help ensure a smooth transition.”