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W.A.G payment solutions plc (Eurowag) announced the appointment of Oskar Zahn as Chief Financial Officer, effective 17 April 2023, and as an Executive Director on 12 May 2023. He will succeed Magdalena Bartoś, who is anticipated to step down from the Board and leave the business on 30 April 2023, with his base salary set at £430,000 per annum.
| Date | 28 Feb 2023 |
| Time | 07:09:45 |
| Category | Board changes |
| ID | 3073R |
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.
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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
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.