REG - Boku Inc - Appointment of new Chair

BokuAnnouncement

24/07/2025 07:00

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RNS Number : 3097S  Boku Inc  24 July 2025

24 July 2025

 

 

Boku, Inc.

("Boku" or the "Company")

 

Appointment of new Chair

 

Boku, Inc. (AIM: BOKU), a global network of localised payment solutions, is
pleased to announce that, following an external search, the Board of Directors
of the Company have agreed to appoint Richard Pennycook CBE as Non-Executive
Chair, with effect from 1 August 2025. Mr Pennycook replaces Dr Richard
Hargreaves, who announced on 18 March 2025 his intention to retire from the
Board.

 

Dr Hargreaves is retiring after nine years as a Non-Executive Director of the
Company, including the past three years as Chair. Dr Hargreaves will continue
in his role until 1 August 2025, working with Mr Pennycook to facilitate an
orderly handover.

 

The Board would like to thank Dr Hargreaves for his significant leadership,
dedication and contribution to Boku during his time on the Board, having been
a Non-Executive Director at the time of the Company's  admission to AIM,
serving as Chair of the Remuneration Committee and as a member of the Audit
Committee, and more recently as Chair of the Board since June 2022.

 

Richard Pennycook brings extensive executive and non-executive board level
experience in public companies. He is currently Non-Executive Chair of On The
Beach Group PLC and previously served as Chairman of Howdens Joinery Group
PLC, a FTSE 100 company. Prior to his non-executive career, Mr Pennycook had a
30-year executive career, most recently at The Co-Operative Group, where he
served as CEO from 2013 to 2017. Prior to the Co-Op, he held executive board
roles at a number of public companies, including Wm Morrison Supermarkets PLC,
RAC plc, HP Bulmer Holdings plc, Laura Ashley Holdings plc and J D Wetherspoon
PLC.

 

Commenting on his new role, Richard Pennycook, incoming Chair said:

 

"I am delighted to be joining the Board of Boku at this exciting time for the
business as it accelerates its growth and expansion, both in its market and
product offering. I look forward to working closely with my new Board
colleagues and the wider executive team to support the strategy and governance
of the Company."

 

Richard Hargreaves, departing as Chair, said:

 

"I would like to thank my Board colleagues, the senior leadership team and all
of Boku's employees for their support during what has been an exciting journey
from joining Boku whilst still private, to the AIM admission in 2017 and the
Company's continued growth since then. It has been a privilege to work with
the whole team and to contribute to the success of the business over my nine
years' involvement. I am confident I leave it in capable hands and I look
forward to seeing the ongoing development and success of the business."

 

Stuart Neal, CEO of Boku, said:

 

"I would like to thank Richard for his exceptional leadership over the past
nine years and for his support during my time as CFO and CEO.  He has played
a key role in guiding the Company through a period of significant growth and
transformation. As he steps down, we are delighted to welcome Richard
Pennycook as our new Chair.  With a wealth of experience, Richard is
exceptionally well placed to support the next phase of our journey as we
continue to execute our growth strategy."

 

In accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules
for Companies, Richard John Pennycook, aged 61, holds or has held in the past
five years the following directorships and partnerships:

 

 Current:                             Past five years:
 2 Sisters Food Group Limited         Howdens Joinery Group PLC
 On The Beach Group PLC               Storteboom Food Group Europe BV (formerly 2 Sisters Europe BV)
 Wolf & Badger Limited                Westmorland Limited
 Amber Foods Limited                  The Hut Management Company Ltd
 Boparan Holdings Limited             Quincey Holdco Limited
 Bridge of Gaur Developments Limited
 PD Innovations Limited(1)

 

(1)PD Innovations Limited entered creditors' voluntary liquidation on 1
December 2022 with a shortfall to creditors of £9.85m.

 

Mr Pennycook holds no shares in Boku.

 

Save for the above, there is no further disclosure required with regard to
Schedule Two paragraph (g) of the AIM Rules for Companies.

 

For further enquiries:

 Boku, Inc.                                                                +44 (0)20 3934 6630
 Stuart Neal, Chief Executive
 Officer
 Rob Whittick, Chief Financial Officer

 Investec Bank plc (Nominated Adviser & Joint Broker)                      +44 (0)20 7597 5970
 Nick Prowting / Kamalini Hull / Patrick Robb

 Peel Hunt LLP (Joint Broker)                                              +44 (0)20 7418 8900
 Neil Patel / Ben Cryer / Kate Bannatyne

 IFC Advisory Limited (Financial PR &                                      +44 (0)20 3934 6630
 IR)
 Tim Metcalfe / Graham Herring / Florence Staton

Notes to Editors

Boku Inc. (AIM: BOKU) is a global network of localised payment solutions.
Boku's localised payments network, including digital wallets, direct carrier
billing, and A2A (account to account)/real-time payments schemes, reaching
over 7 billion customer payment accounts through a single integration.

 

Customers that trust Boku to simplify sign-up, acquire new paying users and
prevent fraud include global leaders such as Amazon, Meta, Google, Microsoft,
Netflix, Sony, Spotify and Tencent.

 

Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with
offices in the
US, India, Brazil, China, Estonia, France, Germany, Indonesia, Ireland,
Japan, Singapore, Spain,

Taiwan and Vietnam.

 

To learn more about Boku Inc., please visit: https://www.boku.com
(https://www.boku.com/)

 

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