Philip Jansen to step down as Worldpay co-CEO at the end of 2018

Maria Nikolova

Worldpay will transition to a single chief executive officer, which will be its current Executive Chairman and co-CEO Charles Drucker.

Payments technology company Worldpay Inc (LON:WPY) announced today pending changes at the top, as Philip Jansen will step down as co-chief executive officer and a member of the board of directors on December 31, 2018. At that time, the company will transition to a single chief executive officer, which will be current Executive Chairman and co-CEO Charles Drucker.

Charles Drucker said:”Philip has been a great partner in helping bring Vantiv and Worldpay together, and I’d like to thank him for his significant contributions.”

Philip Jansen, co-chief executive officer, commented: “As planned, with the completion of the initial phase of the integration, now is the right time for the company to transition to having a single CEO lead the business. Our colleagues worldwide have helped get us to this point, and I’m incredibly proud to have worked with each of them across the globe.”

Let’s recall that, in January this year, Worldpay and Vantiv announced that all the conditions set out in the scheme document dated November 28, 2017 had been satisfied or waived and the Scheme of the Merger became effective in accordance with its terms.

In August 2017, the boards of Worldpay and Vantiv unveiled an agreement on the terms of a recommended merger of Worldpay with Vantiv and Bidco in the form of a recommended offer for the entire issued and to be issued ordinary share capital of Worldpay by Vantiv and Bidco. In respect of each Worldpay Share for which a valid Cash Election was made and satisfied, Worldpay Shareholders will receive approximately 420 pence per Worldpay Share as set out in the Scheme Document. Worldpay Shareholders who made valid Share Elections have had such elections scaled down on a pro rata basis by 86.3%. In respect of each Worldpay Share for which a valid Share Election was made and satisfied, Worldpay Shareholders will receive approximately 0.0773 of a New Vantiv Share.

Earlier this year, Worldpay revised its revenues and earnings outlook for the full year.

“We are raising our net revenue and adjusted earnings guidance ranges for the full year 2018,” said Stephanie Ferris, chief financial officer at Worldpay. “We expect the accelerating organic growth trends that we achieved during the second quarter to continue for the rest of the year, and we are increasing our organic revenue growth expectations by one point for the full year with a partial offset due to currency. In addition, we continue to carefully manage expenses, resulting in further earnings accretion.”

  • Read this next

    Executive Moves

    Admirals appoints founder Alexander Tsikhilov as CEO

    “Striking the right balance between sourcing new talent and developing and harnessing the strength and capabilities of our current workforce, is key to achieving our vision.”

    Executive Moves

    GCEX appoints Ignacio Corral and Helen Man to UK operation

    GCEX has announced the appointment of Ignacio Corral and Helen Man to its UK FCA-regulated operation based in London as the firm further expands its global business on account of increasing demand for its digital prime brokerage services.

    Retail FX, Uncategorized

    Public.com to shut down UK operation after eight months

    Public.com’s UK withdrawal reflects broader market dynamics, where increased competition among retail investing platforms, including newcomers like Robinhood and Webull, pressures companies to consolidate their efforts in their most profitable or strategic markets.

    Industry News

    UK FCA commits to swifter enforcement actions

    “Reducing and preventing serious harm is a cornerstone of our strategy. By delivering faster, targeted and transparent enforcement, we will reduce harm and deter others. We will also make greater use of our intervention powers to stop harm in real time.”

    Digital Assets

    Ultimate Crypto Trading Software: Zent Launches Innovative Platform For All Institutional Needs

    Zent, a pioneering software provider for financial institutions, has unveiled its all-in-one platform for high-speed crypto trading across popular exchanges. The “ultimate tool tailored to institutional teams and trading volumes” offers distinct advantages, eliminating hurdles like delays and market impact.

    Digital Assets

    OKX officially launches Turkish crypto trading platform

    “With a crypto adoption rate close to 50%, Türkiye represents a very dynamic and promising market for the industry as it continues to develop. The population’s high level of engagement and understanding of digital assets makes it an ideal environment for OKX, and we’re strongly committed to helping continue to grow this already vibrant ecosystem.”

    Retail FX

    ZA Bank launches US stock trading service ZA Invest

    ZA Invest provides access to over 6,000 US stocks and 3,000 ETFs, and a promotional USD savings interest rate of up to 10% p.a. for eligible users.

    Podcasts, Women of the Industry

    FF Podcast delves into the rise of prop trading as Brokeree releases Prop Pulse

    In the latest FinanceFeeds Podcast, Tatiana Pilipenko discusses Prop Pulse, Brokeree Solutions’ platform for prop firms and retail brokers aiming to delve into prop trading. Offering a flat fee structure, Prop Pulse emerges as a scalable solution in an era where successful traders increasingly prefer prop firms over traditional retail brokers.

    Retail FX

    Swissquote renews with UEFA for Europa League and Europa Conference League

    “Football stands for passionate competition, the pursuit of triumph, and the spirit of enthusiasm shared by all. These are values that align perfectly with our company and our partnership with customers.”

    <