Payments platform Paysafe Limited (NYSE: PSFE) has announced a significant leadership change, with Alex Gersh moving from his role as Chief Financial Officer (CFO) to an advisory position with the Chief Executive Officer (CEO), effective 4 September. Gersh will remain with the company in this new advisory capacity at least until the end of the year. John Crawford will step into the role of CFO immediately, operating from Paysafe’s North American headquarters in Jacksonville, Florida.
Paysafe’s CEO, Bruce Lowthers, outlined the strategic rationale behind the transition: “As we enter a new phase of growth, focusing on scaling the business and seizing upcoming opportunities, it is crucial to have the right leadership in place. John brings exceptional financial expertise, strategic insight, and a strong business acumen. His background positions him well to drive our efforts toward sustainable growth and long-term success as a premier payments’ organisation.”
John Crawford joins Paysafe from FIS, where he was Executive Vice President of Strategy, M&A, and Venture Capital. During his nine-year tenure at FIS, Crawford was instrumental in leading the company’s corporate development efforts, overseeing numerous acquisitions, divestitures, and joint ventures. His leadership was key to FIS’s substantial growth, having spearheaded over 25 deals. Prior to his time at FIS, Crawford held senior roles in investment banking at Bank of America Merrill Lynch and Bear Stearns, and in commercial finance at GE Capital.
In his new role at Paysafe, Crawford expressed enthusiasm about the opportunities ahead: “I am excited to join Paysafe and be part of its ongoing transformation. The payments industry demands a comprehensive set of solutions on a global scale to effectively serve customers and remain competitive. Paysafe already has a strong position in many key markets, and I look forward to working with the team to accelerate growth while maintaining financial discipline and delivering value for our stakeholders.”
Alex Gersh will collaborate closely with Crawford during the transition period. Reflecting on his time as CFO, Gersh said: “Joining Paysafe during a challenging period has been a rewarding experience. I am grateful for the opportunity to contribute to the company’s transformation and for the support of the Paysafe team throughout this journey. I look forward to assisting in the transition and continuing to support the company’s goals.”
Lowthers also acknowledged Gersh’s contributions: “I want to express my sincere thanks to Alex for his leadership over the past two years. His efforts have been pivotal in stabilising Paysafe and driving our transformation. While Alex is not leaving us yet, his continued presence will ensure we maintain our strategic course and momentum.”
Paysafe, a leading payments platform, is focused on expanding its offerings and capitalising on growth opportunities in the payments industry. The leadership transition marks a new chapter as the company aims to enhance its global presence and financial performance.
