Lesaka appoints fintech entrepreneur Ali Mazanderani as Chairman, Kuben Pillay as Lead Independent Director, and Chris Meyer to conclude tenure as Group CEO in February 2024
04 Diciembre 2023 - 3:05PM
Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) today announced
that Chris Meyer will conclude his tenure as Lesaka Group CEO on
February 29, 2024. During his nearly three years as Group CEO,
Chris has led the successful turnaround and building of the Lesaka
fintech platform. Chris will remain a director of Lesaka.
Commenting on the conclusion of his
tenure as Group CEO, Chris said, “I have dedicated all my
energy over the past nearly 3 years to the turnaround and
rebuilding of the Lesaka platform, spending the majority of that
time apart from my family in the UK. The vibrant and energized
Lesaka of today looks very different to the business we took on
almost 3 years ago, and I am exceptionally proud of what this
extraordinary team has achieved. The Consumer division has returned
to profitability and the Connect Group acquisition has been a
resounding success. Furthermore we have built a strong leadership
team, implemented a robust corporate governance and risk management
framework, and developed a values system and culture which
resonates with our 2,400 colleagues across Southern Africa. I
believe we have achieved what we set out to do when we started this
journey, and I feel that the time is right for me to return to my
family and hand over to a new leader who will take this
extraordinary group of people into an exciting future. Ali is
an exceptional leader and fintech entrepreneur and is the perfect
candidate to lead Lesaka in its next exciting growth phase.”
Ali Mazanderani will assume the Executive
Chairman role on February 1, 2024.
Ali has been a member of the Lesaka board since
2020. It was Ali’s vision to build the leading fintech platform in
Southern Africa that set Lesaka on its journey. He presented this
strategy to the market at Lesaka’s Q4 2020 earnings call and has
played a key role in Lesaka’s evolution, serving as a board
director and a member of the Capital Allocation Committee.
Ali brings deep experience to the Lesaka
executive team and is a well-known and respected global fintech
leader and entrepreneur. Ali is co-founder and Chairman of Teya, a
leading European fintech and has served as a director of global
fintech companies, including StoneCo in Brazil and Network
International in the UAE.
Ali commented, “During my three
years on the board of Lesaka, I have seen the leadership team and
the more than 2,400 employees across the group build a great
foundation. I would especially like to thank Chris for the crucial
role he has played in getting Lesaka to where it is today. The
company is well positioned to deliver exceptional value to its
stakeholders and benefit the communities it serves. I look forward
to deepening my involvement with Lesaka and working with the entire
team to realize our vision.”
Kuben Pillay, Chairman of the Lesaka
Board, commented, “On behalf of the Board, I want to thank
Chris for his invaluable contributions to Lesaka. Chris achieved
what he was tasked to do when we started this journey, and leaves
Lesaka as a strong platform positioned for growth.”
“We are excited by the appointment of Ali as
Executive Chairman. Ali played an integral role in setting Lesaka
on this journey to become the leading fintech driving financial
inclusion. Given his deep experience and proven track-record in the
fintech sector and in emerging markets (including South Africa), he
is ideally suited to lead Lesaka through the next phase of
growth.”
Kuben Pillay’s role on the Board of Lesaka will
change from Chairman to Lead Independent Director, effective
February 1, 2024. Kuben will continue to chair the meetings of the
board of directors, in line with best practice of corporate
governance and independence.
About Lesaka
(www.lesakatech.com)
Lesaka Technologies, (Lesaka™) is a South
African Fintech company that utilizes its proprietary banking and
payment technologies to deliver superior financial services
solutions to merchants (B2B) and consumers (B2C) in Southern
Africa. Lesaka’s mission is to drive true financial inclusion for
both merchant and consumer markets through offering affordable
financial services to previously underserved sectors of the
economy. Lesaka offers cash management solutions, growth capital,
card acquiring, bill payment technologies and value-added services
to formal and informal retail merchants as well as banking,
lending, and insurance solutions to consumers across Southern
Africa. The Lesaka journey originally began as “Net1” in 1997 and
later repositioned and rebranded to Lesaka (2022), with the
acquisition of Connect. As Lesaka, the business continues to grow
its systems and capabilities to deliver meaningful fintech-enabled,
innovative solutions for South Africa’s merchant and consumer
markets.
Lesaka has a primary listing on the NASDAQ
(NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock
Exchange (JSE: LSK). Visit www.lesakatech.com for additional
information about Lesaka Technologies (Lesaka ™).
Forward-Looking Statements
This press release contains certain statements
that may be considered forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and such statements are subject to the safe harbor created by those
sections and the Private Securities Litigation Reform Act of 1995,
as amended. Such statements may be identified by their use of terms
or phrases such as “expects,” “estimates,” “projects,” “believes,”
“anticipates,” “plans,” “could,” “would,” “may,” “will,” “intends,”
“outlook,” “focus,” “seek,” “potential,” “mission,” “continue,”
“goal,” “target,” “objective,” derivations thereof, and similar
terms and phrases. Forward-looking statements are based upon the
current beliefs and expectations of our management and are
inherently subject to risks and uncertainties, some of which cannot
be predicted or quantified, which could cause future events and
actual results to differ materially from those set forth in,
contemplated by, or underlying the forward-looking statements. In
this press release, statements relating to future financial results
and future financing and business opportunities are forward-looking
statements. Additional information concerning factors that could
cause actual events or results to differ materially from those in
any forward-looking statement is contained in our Form 10-K for the
fiscal year ended June 30, 2023, as filed with the SEC, as well as
other documents we have filed or will file with the SEC. We assume
no obligation to update the information in this press release, to
revise any forward-looking statements or to update the reasons
actual results could differ materially from those anticipated in
forward-looking statements.
Investor Relations Contact:Phillipe
WelthagenEmail: phillipe.welthagen@lesakatech.comMobile: +27 84 512
5393
FNK IR:Rob Fink / Matt Chesler, CFAEmail:
lsak@fnkir.com
Media Relations Contact:Janine Bester
GertzenEmail: Janine@thenielsennetwork.com
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