PayPoint plc announced the appointment of Nick Wiles as Chief Executive. The Board is delighted to confirm this appointment which follows both a thorough recruitment search and consideration of the needs of the business as it emerges from the Covid-19 crisis. The Board believes that Nick's leadership will provide the business with the clarity, stability and continuity required to enable continued progress against its' strategic priorities and delivery of a stronger platform for long-term growth.

Nick joined the Board in October 2009 as a Non-Executive Director and has been Chairman of the Company for the past 5 years. Since September 2019 he has been operating in the capacity of Executive Chairman after Patrick Headon stepped down from the board due to ill health. As a result of this appointment, Nick has stepped down from the Board of Picton Property Income Limited where he was a Non-Executive Director.

Giles Kerr, currently Senior Independent Director and Chairman of the Audit Committee, will take over from Nick as Chairman of the Board and Chair of the Nomination Committee. Both Nick and Giles will move into their new roles immediately and Giles will continue to carry out his chairmanship duties of the Audit Committee until such time as a new Chair of the Audit Committee can be appointed. Rakesh Sharma, the Chair of the Remuneration Committee, has been appointed Senior Independent Director, taking over from Giles with immediate effect.

The company also announced that Rachel Kentleton is to step down from her role as Finance Director. The Board announced that Alan Dale, currently Head of UK Finance, will be appointed as Interim Finance Director and a member of the Executive Board. Alan, an ACA qualified finance executive, has been with PayPoint in his current capacity for 3 years and has significant finance leadership experience having held senior finance roles with financial services companies including GE Capital.

Rachel will work with Nick and Alan to ensure an orderly handover process and will leave the business over the summer when this has been completed. Finally, the company announcef that Lewis Alcraft, currently Chief Commercial Officer, has been promoted to the position of Chief Operating Officer with immediate effect and remains a member of the Executive Board. Lewis will work closely with Nick to drive the operational performance of the business as well as on a number of strategic projects.