REG - Eurowag - Appointment of Chief Financial Officer

WAG Payment SolutionsAnnouncement

28/02/2023 07:16

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RNS Number : 3073R  Eurowag  28 February 2023

28 February 2023

 

W.A.G payment solutions plc

("Eurowag" or the "Group")

Appointment of Chief Financial Officer

W.A.G payment solutions plc, a leading pan-European integrated payments &
mobility platform focused on the Commercial Road Transportation ("CRT")
industry, today announces the appointment of Oskar Zahn as Chief Financial
Officer ("CFO") with effect from 17 April 2023. He will be appointed as an
Executive Director of the Board on 12 May 2023, following the next Board
meeting.

Oskar will succeed Magdalena Bartoś, CFO, who will remain with Eurowag until
the proposed acquisition of Inelo is completed and the Group's 2022 full year
results are finalised. It is anticipated that Magda will step down from the
Board and will leave the business on 30 April 2023. As part of Group's overall
succession planning, David Forth, a Senior Finance Professional with wide
international experience was appointed on 1 February 2023 to support Magda and
ensure there is a smooth transition to the Group's new CFO.

Oskar brings over 30 years' experience of working within large complex
international businesses with continuous improvement and growth focused
cultures. Most recently he was CFO at XP Power Limited, one of the world's
leading providers of power converter solutions. Prior to XP Power, Oskar was
CFO of Scapa Group plc, a leading global manufacturer to the Healthcare and
Industrial markets, from 2018 until its acquisition by SWM International, Inc.
in early 2021. Previously, he served as CFO at Spearhead International, a
leading vertically integrated food and agriculture business operating in
Central and Eastern Europe and the UK.

Paul Manduca, Chairman, commented:

"Following a rigorous selection process, I am delighted to welcome Oskar to
Eurowag and the Board. With his extensive experience and proven track record
working across sectors and geographies, there is no doubt he will make a
significant contribution to our Group's future success."

Martin Vohánka, CEO and Founder, said:

"I am very pleased to welcome Oskar to our leadership team as CFO. Over the
last three years we have built a strong finance team, and Oskar will be a
valuable addition, bringing with him a wealth of both PLC and senior financial
leadership experience. As we continue to move towards becoming a market
leading digitally integrated end-to-end platform, Oskar's experience in fast
growing businesses will enable us to continue on our exciting journey and
ensure we are well positioned to capture further growth.

On behalf of the Group and the Board, I would like to thank Magda for her
contribution to Eurowag over the past three years. She has played an important
role at a transformational time for the Group and her knowledge and expertise
has been invaluable. Her many achievements include leading us through the IPO
and recent refinancing, and further building Eurowag's strong track record of
delivering strategically important partnerships and acquisitions. We wish her
all the best in her future endeavours."

 

Oskar Zahn, commented:

"I am excited to join Eurowag, a business that has a proven track record of
growth and be part of the next phase of its development."

 

With the appointment of Oskar, Eurowag has decided to move its Capital Markets
Day to after it's half year results, giving Oskar time to become fully
embedded into the business. Further details will be provided in due course.

This announcement has been made in accordance with the requirements of LR
9.6.12 of the UK Listing Rules.

 

ENQUIRIES

Eurowag

Carla Bloom

Head of Investor Relations and Communications

+44 (0) 789 109 4542

investors@eurowag.com (mailto:investors@eurowag.com)

 

Instinctif Partners

Tim McCall, Galyna Kulachek, Bryn Woodward

IR and international media

+44 (0)20 7457 2020

eurowag@instinctif.com (mailto:eurowag@instinctif.com)

 

About Eurowag

Eurowag was founded in 1995 and is a leading pan-European integrated payments
and mobility platform focused on the Commercial Road Transportation ("CRT")
industry. Eurowag's innovative solutions makes life simpler for small and
medium businesses in the CRT industry across Europe through its unique
combination of payments solutions, seamless technology, a data-driven digital
ecosystem and high-quality customer service. https://investors.eurowag.com
(https://investors.eurowag.com)

Notes to editors

Remuneration Arrangements

Oskar's remuneration arrangements are in line with Eurowag's shareholder
approved Remuneration Policy. His base salary will be £430,000 per annum and
his service agreement provides for a discretionary annual bonus (up to a
maximum 150% of base salary), and a discretionary annual Long Term Incentive
Plan award (up to a maximum of 150% of base salary). Any variable pay awarded
to Oskar will be determined by the performance and profitability of the
Company.

As at the date of this announcement, Mr Zahn is Chief Financial Officer and
Director of XP Power Holdings Limited and was previously Chief Financial
Officer and Director of Scapa Group PLC until 2021. Mr Zahn was a director of
Spearhead Academy Limited from 31 October 2016 until the company was dissolved
on 7 November 2017.

 

 

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