Bob Stefanowski is to be replaced as Dollar Financial Corporation Global (DFC) Chief Executive Officer.

Bondholders in Dollar Financial Corporation Global (DFC) were informed late last week that Bob Stefanowski was stepping down as its chief executive, to be replaced by Glen Wakeman, a former GE Money executive in Latin America. The change at the top of DFC, which operates in countries including Canada, Finland and the US and has more than 10 million customers, is said to have been motivated at least in part by tensions between Lone Star Funds, DFC’s controlling shareholder, and Stefanowski, who has run the company since 2014.