14 June 2017

Tyro Chief Executive Officer Gerd Schenkel Resigns

The Chief Executive Officer of Tyro Payments Limited, Mr Gerd Schenkel, has informed the Board that he wishes to resign from his position in order to focus on other business opportunities and spend more time with family.

Mr Schenkel joined Tyro as Chief Executive Officer in October 2016, and during his tenure at Tyro has elevated its reputation as a strong service provider for its fast growing number of Australian merchants. During this time Mr Schenkel has been a strong and articulate advocate for Australian SMEs.

Mr Schenkel’s departure comes at a time when Tyro is embarking on a significant growth program developed over the past 12 months, including new product design, improved operating systems and distribution.
Mr Schenkel said: “My departure will allow a new CEO to lead the implementation of Tyro’s significant growth program. I felt privileged to lead the organisation and I thank the Board for the opportunity.”

Tyro Chairman, Mr Kerry Roxburgh said: “We thank Mr Schenkel for his positive contribution, and we all wish him every success in future.”

Long-time Tyro non-executive director has been appointed Acting Managing Director, effective immediately. Mr Ferguson has been Chairman of and then a Non-Executive Director of Tyro for more than a decade.

Chairman Kerry Roxburgh said: “On behalf of the Tyro Board, I’m pleased to welcome Rob as Acting Managing Director, a role he will occupy until a replacement Chief Executive Officer is appointed. Rob is a long term Tyro investor and director who has a profound understanding of our business, of its strategy and of its potential.”

“Rob’s extensive executive experience in banking, principally as Managing Director of Bankers Trust Australia from 1985 to 1999 makes him a natural choice for this role. I have every confidence Rob Ferguson will continue to deliver on the Tyro strategy.

“Terms and conditions of his appointment will be announced, when approved by the Board. On behalf of the Board and of all Tyro investors, I thank Rob for accepting this appointment.”

Mr Ferguson said: “In my role as Acting Managing Director I look forward to guiding Tyro whilst we search for another Chief Executive, whom we believe is ideally placed to lead Tyro through the next exciting stage of its development.”

Current Executive Director Jost Stollmann will become a full-time Non-Executive Director of Tyro.

Need to know more?

For more about this news story please contact:
Monica Appleby, Head of Corporate Communications on 0466 598 946 or mappleby@tyro.com
Sophie Cotterill, Corporate Communications Manager on 0414 960 292 or scotterill@tyro.com