Tyro share price slides on CEO news

Incoming boss, Jon Davey is currently the CEO of Tyro's Health business.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points
  • The Tyro share price is down 2.6% 
  • The ASX fintech company announced the appointment of a new CEO 
  • Jonathan Davey will take over the helm on 3 October; Robbie Cooke will remain in an advisory position through 31 December 

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?

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price

Image source: Getty Images

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.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Financial Shares

Confident male executive dressed in a dark blue suit leans against a doorway with his arms crossed in the corporate office
ASX Share Market News

ASX 200 bank shares led a financial sector rebound last week

Stronger-than-expected GDP data rattled the market but bank stocks rose strongly. Here's why.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Broker Notes

Up 24%! Are Macquarie shares still a good buy today?

A leading analyst delivers his outlook for Macquarie’s soaring shares.

Read more »

A woman presenting company news to investors looks back at the camera and smiles.
Financial Shares

Kina Securities lifts profit and dividend in half-year 2026 earnings

Kina Securities lifts 1H 2026 profit and dividend, buoyed by strong capital and digital initiatives.

Read more »

A woman sits at a computer with a quizzical look on her face with eyerows raised while looking into a computer, as though she is resigned to some not pleasing news.
Financial Shares

WAM Capital trims FY27 dividend after portfolio setback in FY26

WAM Capital trims its FY2027 dividend target after reporting a tough year and portfolio underperformance.

Read more »

Businesswoman with a pleased smile reading on her laptop at a desk in the office with a look of satisfaction.
Earnings Results

McMillan Shakespeare shares on watch on strong FY26 profit and 70c dividend

The salary packaging company has released its results this morning.

Read more »

Businesswoman working with laptop and documents in office, with virtual finance related graphs and charts.
Earnings Results

Omni Bridgeway share price falls after profit drops 89% in FY26

The company's revenue jumped 57% in FY26, but profit fell sharply after a one-off gain last year.

Read more »

Man analysing data on his laptop.
Earnings Results

Smartgroup posts record H1 2026 results: earnings jump, dividend up

Here's what the company reported for the half.

Read more »

Business people discussing project on digital tablet.
Earnings Results

Centuria Capital Group posts profit growth and record AUM in FY26

Operating earnings are up 11.5% and AUM has hit $22.2 billion.

Read more »