The Tyro Payments Ltd (ASX: TYR) share price is in the red this morning, down 2.6%.
Tyro shares closed flat yesterday at $1.34 apiece. A good performance considering the All Ordinaries Index (ASX: XAO) fell by 2.5%. Tyro shares are currently trading for $1.30.
So, what are ASX investors considering today?
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What are ASX investors considering?
The Tyro share price is sliding after the financial technology company announced the appointment of a new CEO.
Jonathan (Jon) Davey will take over the helm on 3 October. Davey joined the business in May 2021, after Tyro acquired health fintech Medipass, which he managed prior to the acquisition. Davey is currently CEO of Tyro's Health business.
Robbie Cooke, the current CEO, will continue with Tyro in an advisory position through 31 December to "enable a seamless transition".
Commenting on the executive appointment that looks to be pressuring the Tyro share price today, Tyro's chair, David Thodey said:
Having completed a thorough search process, it is pleasing to appoint such a strong internal candidate. Jon is a seasoned technology executive who brings relevant experience from a 30-year career working in financial services, both within corporate and start-up environments.
Jon has been a strong member of the Tyro executive team for close to 18 months so he will hit the ground running, focusing on expediting the delivery and execution of our strategy.
Thodey extended his thanks to Cooke "for his significant contribution over his nearly five years as CEO".
Davey added:
Tyro is one of Australia's first fintech companies and continues to be one of the country's fastest growing technology and innovation companies. I am thrilled to have the opportunity to lead the business into a new and exciting chapter; delivering value for our shareholders, delighting our customers, and ensuring Tyro is a great place to work.
Tyro share price snapshot
Despite gaining 28% last Thursday after rejecting a takeover bid, the Tyro share price remains down 56% year-to-date. That compares to an 11% loss posted by the All Ordinaries so far in 2022.
