Paysafe Limited appointed Bruce Lowthers, a fintech expert after Philip McHugh, the incumbent chief executive, decided to step down.
Lowthers will join the company by 1 May, succeeding McHugh who will step down as both a board member and Paysafe’s CEO, a position he held since June 2019.
After a tenure of 15 years with FIS, the American fintech company, it’s Chief Executive has been named Executive Director.
He began this journey in 2007 and served multiple roles during his tenure with the company, culminating in serving as president.
Paysafe noted that the CEO transition is a result of Daniel Henson’s March appointment as Non-Executive Chair.
Commenting on Lowthers’ appointment, Henson said: “Bruce is an exceptional executive whose proven track record of driving sustained results and enterprise value is second to none.
“In particular, he has successfully scaled and transformed many global organisations. Paysafe is at an exciting inflection point on its journey and we are confident Bruce is the right leader to take it to the next level of growth.”
Henson thanked McHugh for their service. The outgoing CEO’s tenure saw him guide Paysafe through the pandemic and take the company public.
“On behalf of the board, I want to thank Philip for his leadership over the past three years,” said Henson. “He has taken Paysafe public, expanded its footprint and established value-added relationships while upgrading the company’s product and tech capabilities.”
Paysafe reiterated its guidance on revenue for the quarters and full year of 2022, as well as adjusted EBITDA. The company plans to release its Q1 financial results Wednesday, 11 May.
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