PayPoint appoints Nick Wiles as CEO

Maria Nikolova

Mr Wiles has been operating in the capacity of Executive Chairman after Patrick Headon stepped down from the board due to ill health.

Paypoint plc (LON:PAY) today announced the appointment of Nick Wiles as Chief Executive. This happens about two months after the company put the CEO search process on hold.

Nick Wiles joined the Board of PayPoint in October 2009 as a Non-Executive Director and has been Chairman of the Company for the past five years. Since September 2019 he has been operating in the capacity of Executive Chairman after Patrick Headon stepped down from the board due to ill health. As a result of this appointment, Nick Wiles has stepped down from the Board of Picton Property Income Limited where he was a Non-Executive Director.

Giles Kerr, currently Senior Independent Director and Chairman of the Audit Committee, will take over from Nick Wiles as Chairman of the Board and Chair of the Nomination Committee. Both Nick Wiles and Giles Kerr will move into their new roles immediately and Giles Kerr will continue to carry out his chairmanship duties of the Audit Committee until such time as a new Chair of the Audit Committee can be appointed.

Rakesh Sharma, the Chair of the Remuneration Committee, has been appointed Senior Independent Director, taking over from Giles with immediate effect.

Also today, PayPoint plc announces that Rachel Kentleton is to step down from her role as Finance Director.

The Board confirms that Alan Dale, currently Head of UK Finance, will be appointed as Interim Finance Director and a member of the Executive Board. Mr Dale, an ACA qualified finance executive, has been with PayPoint in his current capacity for three years and has significant finance leadership experience having held senior finance roles with financial services companies including GE Capital.

Rachel Kentleton will work with Nick Wiles and Alan Dale to ensure an orderly handover process and will leave the business over the summer when this has been completed.

Finally, the Board announces that Lewis Alcraft, currently Chief Commercial Officer, has been promoted to the position of Chief Operating Officer with immediate effect and remains a member of the Executive Board. He will work closely with Nick Wiles to drive the operational performance of the business as well as on a number of strategic projects.

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