Board and Leadership Changes
(“PayPoint” or the “Company”)
Board and Leadership Changes
After 21 years, leading PayPoint, PayPoint plc today announces that Dominic Taylor will step down from his role as Chief Executive and director of the Board with effect from 1 April 2019.
The Company is pleased to announce that Patrick Headon will join the Board as the Company’s new Chief Executive on the same date. Patrick Headon is a highly experienced senior executive, with extensive relevant experience in FMCG, digital and B2B services, having previously been Managing Director of Wolseley UK, Business Development Director, Europe at eBay and Managing Director, Central & Eastern Europe at Diageo.
Patrick Headon will join the business on 1 March 2019, allowing some time to familiarise himself with the business, before taking on the role of Chief Executive on 1 April 2019. In order to ensure a thorough transition Dominic will continue as an employee until 31 December 2019.
The Company is also pleased to announce that Lewis Alcraft, a member of the Executive Board, will be appointed as Chief Commercial Officer, responsible for PayPoint’s commercial strategy development and execution with effect from 1 April 2019.
Dominic Taylor, Chief Executive, said:
"It has been an honour to lead PayPoint for some 21 years, from a small start up to the scale and capability of the public company it is today. It has been an enormous privilege to work with the many talented and committed people in the PayPoint team and I am very grateful to have enjoyed their support, alongside that of our retailers and clients, in building a unique and successful business providing important services to consumers. I look forward to working closely with Patrick Headon to ensure a smooth handover and I am confident that he will lead PayPoint to even greater success in the future."
Nick Wiles, Chairman of PayPoint, said:
"Dominic has been an outstanding leader of the business during his time as Chief Executive. He has made a significant contribution to establishing the Company we are today, based on strong values, an entrepreneurial spirit and a focus on delivering value for all stakeholders. With the support of a strong team, he has built the leading bill payments and retail services provider in the UK and Romania and made significant progress against our strategy of embedding PayPoint at the heart of convenience retailing. More recently this has resulted in a simplified and more focused business with a clear roadmap against which to implement our strategy. On behalf of the board and shareholders I would like to thank Dominic for his enormous contribution during his significant time in the business.
The Board is delighted to welcome Patrick Headon to the Company following a thorough and rigorous search process. The combination of Patrick’s experience, drive and track record in delivering on strategy, makes him the ideal candidate to lead PayPoint. The Board and I are looking forward to working with him.”
Patrick Headon said:
I am honored and delighted to be appointed as the next Chief Executive of PayPoint. I look forward to joining the business, meeting customers, retailers and other stakeholders as I work with the Executive team to execute the strategy and realise the significant opportunities available to PayPoint and its shareholders.
There are no further disclosures required for the purposes of Listing Rules 9.6.11 and 9.6.13.
Dominic will not receive a termination payment and full details of his remuneration arrangements will be uploaded to the Company's corporate website in accordance with section 430(2B) of the Companies Act 2006
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
PayPoint plc RLM Finsbury
01707 600 300 0207 2513 801
Susan Court, Company Secretary Rollo Head