EML Payments appoints Kevin Murphy as interim Group CEO

EML Payments appoints Kevin Murphy as interim Group CEO

ASX-listed EML Payments has today announced that it has appointed Kevin Murphy as interim Group CEO and that it is commencing a global search for a permanent Group CEO to replace Emma Shand, who given the change in operational priorities resigned from her role today as Managing Director & Group CEO.

The appointment of Murphy as interim Group CEO is one of several new initiatives designed to reposition the EML business. Other initiatives include confirmation of immediate operational priorities and the appointment of Barrenjoey to conduct a
strategic review of the EML business.

Kevin Murphy is a former Managing Director of Bank of Ireland has a deep understanding of the global payments industry, has significant regulatory experience (including with the Central Bank of Ireland) and has been involved in several successful business turnaround scenarios for private equity funds.

The Board of EML advises that Shand, Managing Director & Group CEO, will step down as Managing Director & Group CEO effective from today and will remain employed with EML for a short transitional period through to 17 July 2023.

EML Chairman Luke Bortoli said, “The renewed Board has spoken with internal and external stakeholders and formed a view on the urgent priorities for the business. We are focused on doing the right thing by our people, customers, regulators and
shareholders and we are committed to taking actions that will help the business move through its immediate challenges, deliver sustainable growth in the medium to long term and maximise value for shareholders.”

“We are pleased to welcome Kevin Murphy as interim Group CEO and are excited to have an executive of Kevin’s calibre join EML. His understanding of the Irish and broader European regulatory environments, previous interactions with the Central
Bank of Ireland and deep experience in the payments sector are perfectly aligned to addressing the needs of our business today.”