EML Payments Limited (ASX:EML) Announces Leadership Changes
Leadership Transition
EML Payments Limited (ASX:EML) has announced the discontinuation of Mr. Ron Hynes’s employment agreement as Managing Director and Chief Executive Officer, effective 21 December 2024. The Board has determined that a change in leadership is necessary to execute its strategy, EML 2.0. Hynes will receive six months’ notice but will not receive equity grants due to his departure timing.
Executive Chair Appointment
Current Independent Non-Executive Chair, Mr. Anthony Hynes, will step into the role of Executive Chair, effective immediately. Hynes has extensive experience in global payments and has been with the Board since June 2024. His remuneration during this period will be A$67,000 per month, aligning with the previous CEO’s compensation. Hynes expressed enthusiasm for supporting the leadership team: “Our energised, passionate and broadened leadership team is building momentum… the upside for EML following the successful execution of our strategy is significant.”
New Deputy Chair
Independent Non-Executive Director Mr. Ken Poutakidis has been appointed as Deputy Chair starting 23 December 2024. Poutakidis brings significant experience in equity capital markets and financial services, with his remuneration increasing to $175,000 per annum.
Financial Guidance
The company reaffirms guidance for FY25 underlying EBITDA in the range of A$54-60 million. The leadership team looks forward to updating shareholders on progress and reporting FY25 H1 financial results on 26 February 2025.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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