The under-fire chief executive of beleaguered British mortgage lender Northern Rock was out of a job today.
Adam Applegarth has stepped down from the helm of the crisis-hit firm with immediate effect after 24 years with the business.
Mr Applegarth, who had intended to leave by next February, said: “It is time to hand over to management who I’m confident will be part of the company’s future. I wish them and the board every success.”