EML Payments CEO steps down ahead of strategic review shake-up

EML Payments, global payment solutions and financial services corporation has announced the departure of CEO Emma Shand after nine months in the role. Kevin Murphy has been appointed interim CEO, with the company already beginning the process of finding a permanent replacement. EML has also contracted Barrenjoey to carry out a strategic review of the business to address ongoing challenges such as remediation, cost optimization, growth of core businesses, and talent retention. The company has lost several senior staff members recently and is facing market challenges after underperforming in both its sector and the wider market average. Investors are not pleased with EML’s recent actions, including failed bids and setbacks from The Financial Conduct Authority’s halting of new customer sign-ups in the UK, which set the business back $5 million. The company aims to do the right thing by its stakeholders and committed to actions that will help the business overcome its immediate challenges, deliver sustainable growth in the medium to long term, and maximize value for shareholders. Geopolitical expert Jim Rickards is predicting ensuing financial chaos, and EML’s moves to address its challenges come at a time when the market is experiencing increased volatility and uncertainty.