After overseeing a rocky ride for the company’s share price over the past year, Tom Cregan has resigned as CEO of global payment solutions company EML Payments (ASX: PML) to make way for Emma Shand – a former Nasdaq executive.
Following a decade at the helm, Cregan has offered no reason for quitting his $2.4 million-a-year job, ending a reign that has seen EML Payments grow into a multibillion-dollar company with operations in 32 countries.
The Brisbane-based EML has faced a host of challenges that have seen the company’s share price freefall from a peak of $5.75 in April last year. The stock took another battering this morning after Cregan’s departure was announced, slumping almost 22 per cent to a low of $1.00 during today's lunchtime session.
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