Paysafe Limited named Bruce Lowthers as its CEO, after Philip McHugh the incumbent Chief Executive decided to resign.
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.
The company’s new Chief Executive joins them after 15 years at FIS (American fintech giant).
He began this journey in 2007 and served multiple roles during his tenure with the company, culminating in serving as president.
Paysafe said that this CEO transition builds upon the March appointment of Daniel Henson to Non-Executive chairman.
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 also affirmed its adjusted EBITDA and revenue guidance for the full-year 2022 and quarters. The company plans to release its Q1 financial results Wednesday, 11 May.
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