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Boku Inc.

Boku, Inc. Changes to strengthen board

Boku Inc. (LON: BOKU), the world’s leading independent direct carrier commerce company, today announced important changes to its executive team. Stuart Neal, Chief Finance Officer will be moving internally to lead the new Identity division with the responsibility of growing revenue as its Chief Business Officer with effect from 1 October 2019.

The Board also announced the appointment of Keith Butcher as CFO with effect from 1 October 2019. Keith has been an Independent Non-Executive Director and Chairman of Boku’s Audit Committee since 2017. Stuart will remain an executive member of the Board until a replacement Non-Executive Director has been appointed. A search for a suitable Independent Non-Executive Director to replace Keith is well advanced and an announcement on an appointment will be made in due course.

Keith knows the Company well and has had considerable experience as an AIM company CFO and of online payments businesses. His experience includes six years as CFO of AIM quoted online payments company DataCash Group plc, during its period of rapid growth and ultimate sale to MasterCard for $520m. More recently, he was CFO of London Stock Exchange listed payments company Paysafe Group plc (formerly Optimal Payments plc), which grew its market capitalisation from £40 million to £2 billion during his tenure, through a combination of organic growth and a number of acquisitions including the €1.1 billion acquisition of Skrill. Keith was awarded AIM CFO of the year at the Quoted Company Awards in 2014 and joins from payments company GPS (Global Processing Services) where he was CFO.

Jon Prideaux, Boku CEO, commented:

“Stuart has always hankered after a more hands on commercial role and so his decision to lead efforts to grow our Identity business is one that I welcome wholeheartedly. I thank him for his work as CFO: He has already made an outstanding contribution to the success of the Company, including his role in the November 2017 IPO.

“I am delighted also that a CFO of Keith’s credentials and calibre has decided to step into an executive role at the Company. It has a been a pleasure to serve on the Board alongside him for the past two years and I look forward to working with him more closely as CFO as the Company embarks on the next stages of its growth story.”