Paysafe (NYSE: PSFE), which is a major online payments firm, announced on Thursday the appointment of Bruce Lowthers as the company’s new Chief Executive Officer and Executive Director.
He will take the new leadership role on 1 May 2022, replacing Philip McHugh. Additionally, the announcement came shortly after the payments company onboarded Daniel Henson as Non-Executive Chairman.
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“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 organizations,” said Henson.
Indeed, Lowthers will join Paysafe after his 15 years of tenure at FIS, a major American fintech company. He has held several leadership roles in the company over the years, parting as its President.
In addition, he is bringing a total of three decades of work experience to his new role at Paysafe. He started his career in July 1992 as an Audit Manager at Ernst & Young. Moreover, he served in leadership roles at several financial services companies.
Commenting on the prospects of his new role at Paysafe, Lowthers said: “Paysafe has a highly differentiated and innovative payments offering and is at the forefront of enabling improved payments experiences for both businesses and consumers around the world.
“I am excited by the significant growth opportunities ahead for Paysafe and by the financial outcomes and value we can achieve.”
The stepping down of McHugh as the CEO and a member of the Board is also a major transition for the online payments company. He led the company through the tough pandemic times and positioned itself in the next growth phase.
“He has taken Paysafe public, expanded its footprint and established value-added relationships while upgrading the Company’s product and tech capabilities,” Henson said on McHugh’s role at Paysafe. “The strong foundation Philip and team have put in place sets Paysafe up for sustainable, long-term growth.”
