(Sharecast News) - Mobile payment solutions specialist Boku announced the retirement of its chief financial officer Keith Butcher on Wednesday.
The AIM-traded firm said Butcher had informed the board of his decision to retire, allowing for a transition to his successor following an extended notice period.
It said Butcher would step down from his position on the board, and would not seek re-election as a director at the annual general meeting on 22 May.
He would continue to serve as an employee until October, after which he would act as a consultant until April 2025.
"Keith indicated some time ago that he was considering stepping down as a full-time director of the company," said chief executive officer Stuart Neal.
"He deferred any decision to allow the company to effect a smooth transition of the CEO role following the retirement of Jon Prideaux at the end of 2023.
"I want to personally thank Keith for his contribution to Boku over the past six years, a time of considerable success for the company."
The company said it had started a process to identify and appoint a suitable candidate to succeed Butcher as CFO.
Further details regarding that appointment would be communicated in due course.
"On behalf of the board I would like to thank Keith for helping to steer Boku to its current strong financial position," commented chair Richard Hargreaves.
"We wish him well for the future and the board are working to find a suitable replacement.
"The company is in a strong position to capitalise on its significant momentum in leading the world in aggregating local payment methods for many of the world's largest companies."
At 1202 BST, shares in Boku were up 1.03% at 176.8p.
Reporting by Josh White for Sharecast.com.
Boku (BOKU)