EML Payments
(ASX:EML) has announced changes in its leadership as part of its commitment to the EML 2.0 strategy. The company has terminated Managing Director and CEO Ron Hynes’ employment agreement, effective 21 December 2024. Hynes will receive six months’ notice but no equity grants due to his departure before the relevant vesting dates.
EML Payments is a global payments company. It specialises in prepaid cards, virtual payments and digital wallets, offering tailored platforms for seamless payment experiences. Its clients includes government agencies, retail brands, financial services, and human capital management companies.
Ron Hynes has been Group Chief Executive Officer since 30 June 2024. He has more than 25 years of experience in the prepaid cards sector, including more than 10 years leading businesses within Mastercard and JPMorgan.
Anthony Hynes, the current Independent Non-Executive Chair, has been appointed Executive Chair effective 23 December 2024. With extensive experience in global payments and a deep understanding of EML’s operations, he will receive remuneration of $67,000 per month, equivalent to the previous CEO’s fixed salary.
Additionally, Ken Poutakidis, Independent Non-Executive Director and Chair of the Audit and Risk Committee, has been named Deputy Chair. His annual remuneration has been adjusted to $175,000 in line with EML’s director fee structure.
The company reaffirmed its FY25 EBITDA guidance of $54–$60m.
Shares in EML have sunk on the back of the news. They're currently 21.11% lower at 71 cents.
