TIDMEPO
RNS Number : 6806E
Earthport PLC
22 October 2018
22 October 2018
Earthport plc
("Earthport" or the "Company")
Board Changes
Earthport plc (AIM: EPO), the leading payment network for
cross-border payments, announces today that Phil Hickman, Chairman,
will retire from the Company with immediate effect. At the same
time, Sunil Sabharwal, formerly non-executive Director, is
appointed Interim Chairman. In addition, Hank Uberoi, non-executive
Director, will retire from the Board with immediate effect.
The Chairman of Earthport, Phil Hickman, will retire from the
Company with immediate effect, having completed an orderly handover
to Sunil Sabharwal, who at the same time becomes Interim
Chairman.
Phil has led the board of Earthport since becoming chairman in
2011 and led the Company as Interim CEO during the first half of
this year, culminating in the recruitment of the new executive
team. The Board thanks him for his sterling and loyal service to
the Company.
Sunil, who joined the Board as an independent non-executive
Director in September 2018, has been appointed Interim Chairman and
will lead a best practice search process, expected of a UK listed
and regulated company, together with the other independent
directors, to appoint a permanent Chairman.
Sunil has held senior executive and non-executive roles in
financial services in London and the USA. He will temporarily
relocate to London in order to manage a smooth transition and work
closely with the Executive Team.
At the same time Hank Uberoi, who resigned as CEO in December
2017 having led the Company for a very significant part of its
development journey and remained on the Board as a non-executive
Director, is retiring from the Board. The Board thanks him for his
vision and tireless years of service.
Phil Hickman commented: "I have been extremely proud to serve
the Company for the last 6 years and wish Sunil as the new Interim
Chairman and the Earthport team every success going forward."
Hank Uberoi commented: "For the last several years we have been
developing Earthport's capabilities and positioning the Company to
achieve its significant potential. With Amanda in place as our new
CEO, it is a good time for me to hand over to our new leadership
team to take the Company on the next stage of its journey. I wish
the entire Earthport team the very best."
Sunil Sabharwal commented: "On behalf of the Board, I would like
to thank both Hank and Phil for their extensive contributions to
Earthport over a number of years. Whilst Earthport has navigated a
difficult path this last year, the opportunities ahead of it are
bright, and I look forward to working with Amanda and my Board
colleagues, as Earthport enters its next stage of development."
For further information, please contact:
Earthport Plc 020 7220 9700
Phil Hickman, Chairman, Non-Executive Director
Amanda Mesler, Chief Executive Officer, Executive Director
Newgate 020 7653 9848
Bob Huxford/Ian Silvera
N+1 Singer (Nomad & Joint Broker) 020 7496 3000
Mark Taylor/James White
Shore Capital (Joint Broker) 020 7408 4090
Toby Gibbs/Stephane Auton
About Earthport
Earthport provides cross-border payment services to banks and
businesses. Through a single relationship with Earthport, clients
can seamlessly manage payments to almost any bank account in the
world, reducing costs and complexity to meet their customers'
evolving expectations of price, speed and transparency.
Earthport offers clients access to global payment capability in
200+ countries and territories, with local ACH options in 88
countries and an evolving suite of currencies and settlement
options.
Earthport continues to invest in the establishment of in-country
bank partnerships across the world, bringing together its deep
market and regulatory expertise in order to maintain compliant and
commercially competitive services.
The result - a global payments network accessed via a single
relationship, delivering significant cost and operating
efficiencies for banks and businesses servicing high volumes of
lower value payments.
Headquartered in London with regional offices in New York,
Dubai, Miami and Singapore, Earthport is a public company, traded
on the London Stock Exchange (AIM: EPO).
Please visit www.earthport.com for more information.
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END
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