The stock price of Paysafe Limited (PC profile) increased by 6.02%. Investors are responding positively to the Company’s announcement of a new CEO. Paysafe announced that the US fintech leader Bruce Lowthers had been appointed as CEO and Executive Director of Paysafe.
Lowthers earned a strong reputation as a results-focused leader who has driven transformation, innovated at speed, and enhanced customer experiences for multiple global organizations. He joins Paysafe after a 15-year tenure at FIS, one of the world’s leading fintech companies, where he modernized and accelerated the growth of the Fortune 250 company.
Bruce Lowthers will join the Company by May 1, 2022. He succeeds Philip McHugh, who is stepping down as CEO and a member of the Company’s Board of Directors. The CEO transition builds on the recent appointment of Daniel Henson as the Non-Executive Chairman in March.
Daniel Henson remarked: “On behalf of the Board, I want to thank Philip for his leadership over the past three years. He has taken Paysafe public, expanded its footprint and established value-added relationships while upgrading the Company’s product and tech capabilities.”
Paysafe is reaffirming its revenue and adjusted EBITDA guidance for the first quarter and full-year 2022, previously announced on March 2, 2022. And Paysafe plans to release its first-quarter financial results on Wednesday, May 11, 2022.