Finseta plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces that Elliott Mannis, Non-Executive Chairman, has today informed the Company that, for personal reasons, he intends to step down from the Board with effect from 31 August 2022. Additionally, Stephen Flynn, an Executive Director and Chief Technology Officer, is resigning from Finseta Payment Solutions Ltd and is not seeking re-election as a Director of the Company.

Gareth Edwards, Non-Executive Director, will assume the role of Chairman of the Board following Elliott’s departure. As previously announced, the Company is currently seeking to appoint an Independent Non-Executive Director to the Board who will also serve as Chairman of the Audit Committee. Bill Newton, Executive Director, will assume the duties of Chief Technology Officer alongside his current role of Chief Information Officer.

Elliott Mannis, Non-Executive Chairman of Finseta, said: “I am pleased to have been a part of the Finseta journey, achieving a number of strategic milestones in the period following our IPO. I leave the role of Chairman in the very capable hands of Gareth, whom I have worked with closely since my appointment. I believe that Finseta has an excellent offering and is well-positioned for sustained growth. I look forward to watching its progress.”

Stephen Flynn, Chief Technology Officer of Finseta, commented: “Having been part of the team that has built the business from its infancy, prior to the acquisition by Finseta, I am very proud of what we achieved – from becoming a public company, to expanding globally and acquiring other FX businesses. Accordingly, I feel now is the right time for me to seek opportunities where I can use my experience and expertise to work other companies looking to produce innovative technologies.”

Julian Wheatland, Chief Executive Officer of Finseta, added: “Elliott is a deeply valued member of the Finseta team and has offered tremendous support throughout his tenure as Chairman. Stephen, alongside Bill, has played an instrumental role in getting the platform to where it is today and building our strong technology offering. On behalf of the Board, I would like to thank them for their dedication to the Company and wish them all the best for the future.”

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