Tyro Payments shares dive after CEO Jon Davey resigns
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More news: Tyro Payments’ share price has plunged after CEO Jon Davey resigned to join a private equity backed company.
Tyro shares were 10.4% lower at $0.82 at 10:29am AEST, while the wider financial sector was up 0.1%.
Tyro Payments CEO Jon Davey resigns
The news: Tyro Payments chief executive and managing director Jon Davey has resigned from the payments provider after being poached for the top job at an unnamed private equity backed business.
The numbers: Davey joined Tyro in 2021 through the acquisition of Medipass, where he served as chief executive, and was appointed Tyro CEO in September 2022.
The context: Tyro said Davey will continue in his current role for up to six months to support a smooth transition while an executive search process takes place.
What they said: "Jon leaves the company in excellent shape, with a strong leadership team committed to delivering our growth strategy for FY26 and beyond, including the expansion of the health business and banking proposition and entry into new verticals including aged care and pet insurance," said Tyro chair Fiona Pak-Poy.
The source: ASX
