LONDON - Boku Inc (LON: BOKU), a leader in localized payment solutions, has announced the appointment of Stuart Neal as its Chief Executive Officer, effective since January 1, 2024. Neal, who has over 20 years of experience in the payments and banking sectors, has taken over from Jon Prideaux, who has transitioned to a Non-Executive Director role within the company.
The company, which provides a global network of payment options including Direct Carrier Billing, digital wallets, and Account-to-Account connections, has recently seen significant expansion. It now boasts partnerships with over 300 Local Payment Methods (LPMs), reaching more than 7.5 billion consumer payment accounts across over 90 countries. This growth reflects a broader industry trend where LPMs now account for two-thirds of all online payments worldwide.
Neal's history with Boku is extensive. He served as the company's Chief Financial Officer from 2011 to 2014 and again from 2017 to 2019, guiding Boku through its initial public offering (IPO). He returned to the company in 2022 as the Chief Business Officer of Boku's Identity Division, which was later acquired by Twilio (NYSE:TWLO). Neal's appointment as CEO follows his role as CEO Designate since July 2023, after Prideaux announced his retirement plans.
Neal expressed enthusiasm about his new role, emphasizing Boku's commitment to empowering consumers with payment choice and supporting merchants in offering localized payment options. His tenure as CEO is expected to continue the company's trajectory of innovation and commercial growth.
Prideaux, who has played a pivotal role in Boku's success, including its expansion beyond carrier billing into a global force in local payments, expressed confidence in Neal's leadership and the company's strategic direction.
Boku Inc., which works with global merchants such as Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL), Spotify (NYSE:SPOT), Meta (NASDAQ:META), Microsoft (NASDAQ:MSFT), Netflix (NASDAQ:NFLX), Tencent, and Sky, aims to facilitate business growth worldwide by providing diverse payment methods. The company, headquartered in London, has a presence in several countries, including the US, India, Brazil, China, Estonia, France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan, and Vietnam.
The information for this article is based on a press release statement from Boku Inc.
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