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Network International reveals Nanden Mer will succeed Simon Haslam as group CEO
StockMarketWire.com
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Network International has announced that Simon Haslam, its group CEO, has decided to retire after forty years in the financial services sector. He will be replaced by Nandan Mer, who is currently MasterCard's strategy head for international markets, on 1 February 2021.
Simon will step down as group CEO and from the board of directors on 31st January 2021 and will remain with the company throughout his six month notice period to ensure a smooth transition.
Mer has a proven track record of building and growing businesses over 30 years in a number of global markets with leading financial institutions including American Express, Citigroup, United Bank for Africa (UBA) and most recently at MasterCard where he has worked for 11 years. Mer said his focus will be on "delivering for all stakeholders in the business while continuing to deliver strong financial returns to investors."
Ron Kalifa, Network's chairman, said: "On behalf of the Board and all of our Network colleagues, I would like to thank Simon for his invaluable contribution as CEO and wish him well in his retirement. During his tenure, Simon has led the company's transformation into the largest payment solutions provider in the UAE and the leading enabler of digital commerce throughout the Middle East and Africa, and delivered significant growth across all our markets. He leaves behind a strong business and a legacy of success."
Haslam said: "I am proud of leading the change to make Network the pre-eminent provider of payment solutions in the Middle East and Africa, the world's most under penetrated markets with regard to digital payments. We have acted decisively to protect the business during the pandemic, and at the same time continued to prioritise strategic focus and investment into areas that will ensure Network can capitalise on future growth opportunities. It is with this in mind that I feel now is the right time to hand over the business for the next stage of its growth."
At 8:05am: (LON:NETW) Network International Holdings PLC share price was 0p at 239.4p
Story provided by StockMarketWire.com
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