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  • Buy-now pay-later platform Splitit, will have a new CEO by October as co-founder and current CEO Gil Don announced his step-down to General Manager
  • Gil has been with the company since it’s inception in 2009 and has since taken it global, managed a team of over 50 employees and oversaw its listing on the ASX in January
  • Gil will be replaced by Brad Peterson, who has been acting as Managing Director of Splitit’s North American operations since June this year
  • Brad has over 20 years of executive experience, including a history of work with Visa and PayPal

Installed payments platform, Splitit, will have a new face to the company after CEO and co-founder Gil Don will step down.

Gil was a part of the company’s inception in 2009 with colleague and company Director Alon Feit. Gil has served as the company’s CEO since 2015 and oversaw its listing on the ASX earlier in January.

“Splitit stands apart from other instalment payment solutions and I have been honoured to lead a talented team of professionals who are passionate about delivering the best product for our customers,” Gil said.

During his tenure, Gil has taken company operations to the global scale and built a team of over 50 employees.

Splitit functions much like popular competitors Zip Co and Afterpay — providing shoppers with a buy-now pay-later model.

Taking over Gil’s position as CEO is Managing Director of North American operations, Brad Peterson.

“I have been extremely impressed with Brad’s professionalism and the experience that he has brought to this position,” Gil spoke of his colleague.

“I am very confident that Brad will successfully lead the Company in this next phase of our growth.”

Brad has over 20 years of executive experience and has worked with PayPal, Visa and taxation software company Intuit.

Changes will officially take effect on October 1.

“Brad has already made a significant contribution since joining the business,” company Chairman Spiro Pappas said.

“With his experience in helping to build and scale well-known companies in the payments industry, we always considered him a potential successor to Gil.”

Brad Peterson first joined Splitit in June this year. His time at PayPal was spent as Head of Merchant Services in the Asia-Pacific.

With Visa, Brad worked as the company’s director of Consumer and Emerging Products for Australia and New Zealand.

“I am thrilled to be stepping into the role of CEO,” Brad said.

Stepping down from CEO, Gil Don will serve as the company’s General Manager of European, Middle Eastern and African operations.

“I am extremely grateful to Gil and the Board for giving me this opportunity to build on the tremendous work that has already been done under Gil’s leadership,” he added.

“I look forward to driving significant growth and innovation in the business by working closely with our team, customers and shareholders.”

Since announcing the company changes this morning, shares in Splitit on the ASX are priced at 52 cents apiece from a 0.97 per cent increase.

“I want to thank Gil for his vision, leadership and ongoing commitment to the company,” Spiro Pappas concluded.

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