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Highlights
Leadership changes announced at EML Payments (EML).
CEO Ron Hynes’ role terminated, with leadership restructuring underway.
FY25 EBITDA guidance reaffirmed amidst organizational adjustments.
EML Payments (ASX:EML), a global payments solutions provider, has unveiled significant changes to its leadership team as part of its ongoing EML 2.0 strategy. These developments reflect the company’s focus on aligning its management structure with long-term goals and enhancing operational efficiency.
Effective 21 December 2024, Managing Director and CEO Ron Hynes’ employment agreement has been terminated. Despite receiving six months' notice, Hynes will not be eligible for any equity grants due to his departure prior to the vesting dates. Having been Group Chief Executive Officer since 30 June 2024, Hynes brought over 25 years of expertise in prepaid cards, including leadership roles at Mastercard and JPMorgan. His tenure witnessed key strategic efforts aimed at strengthening the company’s position in the payments industry.
EML Payments specializes in prepaid cards, virtual payment solutions, and digital wallets, serving a diverse client base that includes government agencies, retailers, and financial service providers. These tailored platforms are designed to offer seamless payment experiences across various sectors.
To maintain momentum and ensure effective leadership continuity, Anthony Hynes, the current Independent Non-Executive Chair, has been appointed Executive Chair, effective 23 December 2024. Hynes, with his extensive expertise in global payments and deep familiarity with EML’s operations, is set to receive remuneration of $67,000 per month, matching the previous CEO’s fixed salary.
In addition to this change, Ken Poutakidis, Independent Non-Executive Director and Chair of the Audit and Risk Committee, will take on the role of Deputy Chair. His annual remuneration has been revised to $175,000 in alignment with EML’s director fee policies. Poutakidis brings critical oversight experience, particularly in areas of audit and risk, to the enhanced leadership framework.
Amid these organizational adjustments, EML Payments has reiterated its FY25 EBITDA guidance of $54–$60 million, signaling stability in its financial outlook. The reaffirmed guidance underscores the company’s confidence in its strategic roadmap despite leadership transitions.
These recent developments reflect EML Payments’ commitment to recalibrating its leadership to better support its EML 2.0 strategy. With its enhanced leadership structure, the company remains poised to drive innovation and deliver value across its global payments ecosystem.
