Former Salmat boss named new Afterpay CFO

Former Salmat boss named new Afterpay CFO

Shares in buy-now pay-later giant Afterpay (ASX: APT) have fallen 6 per cent today following the company's appointment of former Salmat boss Rebecca Lowde (pictured) to the role of CFO.

Lowde will start in the new role from 6 October 2020 while outgoing CFO Bortoli will remain with the company in an advisory capacity until the end of the 2021 financial year.

The new CFO was most recently the boss of catalogue marketer Salmat before the group was delisted earlier this month.

Lowde worked as the CFO of Salmat for three years before her promotion, and she has also held positions with Oracle Corporation and ASX200 fintech firm Bravura (ASX: BVS).

Salmat officially delisted on 3 September, nearly one year after the company sold its marketing solutions business to IVE Group (ASX: IGL) for $25 million in cash.

That sale saw the company step away from its largest revenue generator which accounted for almost two-thirds of its sales in FY19.

Afterpay says Lowde's experience will serve the company well as it continues to scale globally.

Bon voyage Bortoli after three years of service

The departure of outgoing CFO Bortoli comes after he completed close to three years of service at Afterpay, helping the company scale up from a small-cap startup to the global giant it is today.

Bortoli will remain employed with the business to assist with a comprehensive transition of responsibilities to Lowde, particularly in the lead up to the company's half year 2021 financial results.

He will then remain at Afterpay to assist the business as required until his final exit at the end of the 2021 financial year.

"Luke has made a transformational contribution to Afterpay in its highly crucial years," said Afterpay CEO and managing director Anthony Eisen.

"Luke has worked tirelessly as a partner to the executive leadership team and been integral in driving our strong performance trajectory and expansion into new regions, while ensuring we had the right capital structure and investor base to achieve our strategic objectives.

"While we are sad to see Luke leave the business we appreciate his immense contribution to reach this point in Afterpay's evolution."

Afterpay has also appointed Meahan Callaghan as its chief people officer a new role created to focus on Afterpay's "people function" globally.

The company has also welcomed Mark Teperson as its new chief strategy officer.

"Mark will focus on further developing our consumer and merchant data insights to enhance our customer and merchant value propositions and further leverage the power of our platform globally," says Afterpay.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Business success comes from thinking inside the box for TAXIBOX founder
Partner Content
On a first glance, the world of storage solutions might not seem particularly exciting ...
TAXIBOX
Advertisement

Related Stories

Space beer, crops and embryos: Saber unveils plans for International Space Station mission

Space beer, crops and embryos: Saber unveils plans for International Space Station mission

Australian space engineering company Saber Astronautics has today u...

Will philosophy and ‘counterfactuals’ help us unlock the mysteries of AI?

Will philosophy and ‘counterfactuals’ help us unlock the mysteries of AI?

Artificial intelligence is increasingly being rolled out all around...

ACCC launches probe into misleading social media influencer posts

ACCC launches probe into misleading social media influencer posts

Australia's consumer watchdog is cracking down on social media ...

Takeover talks reignited between Tyro and Potentia Capital

Takeover talks reignited between Tyro and Potentia Capital

Talks of a potential takeover are back on between Sydney-based Tyro...