Splitit Payments (ASX:SPT) - CEO, Nandan Seth
CEO, Nandan Seth
Source: Splitit
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  • Splitit Payments (SPT) appoints Nandan Sheth as Chief Executive Officer effective from February 28, 2022
  • The company says Mr Sheth has domain expertise through his work at large payment companies, major banks, Fortune 100 companies and disruptive technology startups
  • Prior to joining Splitit, he served as Fiserv’s Head of Global Digital Commerce, was president of Acculynk and served as General Manager at American Express
  • The new CEO will come on board with a base salary of US$600,000 with a $200,000 sign on bonus plus around 35 million in stock
  • Shares last traded yesterday at $1.26

Splitit Payments (STP) has appointed Nandan Sheth as Chief Executive Officer, effective from February 28, 2022.

The company said Mr Sheth has domain expertise through his work at large payment companies, major banks, Fortune 100 companies and disruptive technology startups.

The new CEO will come on board with a base salary of US$600,000 (A$834,000) with a $200,000 (A$280,000) sign-on bonus plus around 35 million in stock, subject to certain performance, continued employment and time-based criteria being satisfied.

Prior to joining Splitit, he served as Fiserv’s Head of Global Digital Commerce was president of Acculynk and served as General Manager at American Express.

Splitit Non-Executive Chair Dawn Robertson said she’s confident the appointment will help the company unlock its growth potential.

“Given his background and record of innovation, we’re extremely confident that he can unlock the growth potential of the company,” she said

The company said John Harper, who has served as Interim CEO since August 2021, will stay on for a period of time to ensure a smooth transition.

Ms Robertson said the company is grateful for his leadership and guidance.

“Having a veteran retail executive at the helm over the past six months has helped us better understand merchants’ needs and expectations and develop our business in ways that help our partners take full advantage of the market opportunities in front of them”, she said.

Shares were trading at $1.26 at the last closing price on January 24.

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