dLocal Announces CFO Transition due to Health Reasons
dLocal (DLO), a cross-border payments platform, announced that CFO Mark Ortiz will step down due to health reasons. The transition will occur after filing the 2024 annual report (Form 20-F), no later than May 1, 2025.
The Board has appointed Jeffrey Brown, current VP Finance, as interim CFO while conducting a search for a permanent replacement. Brown brings financial experience from previous roles at Bank of America, RPX , and as CFO at Geopagos.
Ortiz will remain available as an advisor during the transition period, health permitting. CEO Pedro Arnt acknowledged Ortiz's contributions to developing and implementing dLocal's financial strategy over the past year.
dLocal (DLO), una piattaforma di pagamenti transfrontalieri, ha annunciato che il CFO Mark Ortiz si dimetterà per motivi di salute. La transizione avverrà dopo la presentazione del rapporto annuale 2024 (Modulo 20-F), entro e non oltre il 1 maggio 2025.
Il Consiglio di Amministrazione ha nominato Jeffrey Brown, attuale VP Finance, come CFO ad interim mentre si svolgerà la ricerca di un sostituto permanente. Brown porta con sé un'esperienza finanziaria derivante da precedenti ruoli presso Bank of America, RPX e come CFO di Geopagos.
Ortiz rimarrà disponibile come consulente durante il periodo di transizione, salute permettendo. Il CEO Pedro Arnt ha riconosciuto i contributi di Ortiz nello sviluppo e nell'implementazione della strategia finanziaria di dLocal nell'ultimo anno.
dLocal (DLO), una plataforma de pagos transfronterizos, anunció que el CFO Mark Ortiz renunciará por motivos de salud. La transición ocurrirá después de presentar el informe anual 2024 (Formulario 20-F), a más tardar el 1 de mayo de 2025.
La Junta ha nombrado a Jeffrey Brown, actual VP de Finanzas, como CFO interino mientras se realiza la búsqueda de un reemplazo permanente. Brown aporta experiencia financiera de roles anteriores en Bank of America, RPX y como CFO en Geopagos.
Ortiz permanecerá disponible como asesor durante el período de transición, siempre que su salud lo permita. El CEO Pedro Arnt reconoció las contribuciones de Ortiz en el desarrollo e implementación de la estrategia financiera de dLocal durante el último año.
dLocal (DLO)는 크로스 보더 결제 플랫폼으로, CFO Mark Ortiz가 건강 문제로 사임한다고 발표했습니다. 이 전환은 2024년 연례 보고서(Form 20-F)를 제출한 후, 2025년 5월 1일 이전에 이루어질 예정입니다.
이사회는 현재 재무 부사장인 Jeffrey Brown를 임시 CFO로 임명하였으며, 영구적인 대체자를 찾는 동안 그의 역할을 맡게 됩니다. Brown은 Bank of America, RPX 및 Geopagos의 CFO로서 이전 역할에서 재무 경험을 쌓아왔습니다.
Ortiz는 건강이 허락하는 한 전환 기간 동안 자문 역할을 계속할 것입니다. CEO Pedro Arnt는 지난 1년 동안 dLocal의 재무 전략 개발 및 구현에 대한 Ortiz의 기여를 인정했습니다.
dLocal (DLO), une plateforme de paiements transfrontaliers, a annoncé que le CFO Mark Ortiz démissionnera pour des raisons de santé. La transition aura lieu après le dépôt du rapport annuel 2024 (Formulaire 20-F), au plus tard le 1er mai 2025.
Le Conseil d'Administration a nommé Jeffrey Brown, actuel VP Finance, comme CFO par intérim tout en recherchant un remplaçant permanent. Brown apporte une expérience financière de ses précédents postes chez Bank of America, RPX et en tant que CFO chez Geopagos.
Ortiz restera disponible en tant que conseiller pendant la période de transition, si sa santé le permet. Le PDG Pedro Arnt a reconnu les contributions d'Ortiz au développement et à la mise en œuvre de la stratégie financière de dLocal au cours de l'année écoulée.
dLocal (DLO), eine Plattform für grenzüberschreitende Zahlungen, hat angekündigt, dass CFO Mark Ortiz aus gesundheitlichen Gründen zurücktritt. Der Übergang wird nach der Einreichung des Jahresberichts 2024 (Formular 20-F) erfolgen, spätestens jedoch am 1. Mai 2025.
Der Vorstand hat Jeffrey Brown, den aktuellen VP Finance, als interimistischen CFO ernannt, während eine Suche nach einem dauerhaften Nachfolger durchgeführt wird. Brown bringt finanzielle Erfahrung aus früheren Positionen bei Bank of America, RPX und als CFO bei Geopagos mit.
Ortiz wird während des Übergangszeitraums, sofern es seine Gesundheit erlaubt, als Berater zur Verfügung stehen. CEO Pedro Arnt würdigte die Beiträge von Ortiz zur Entwicklung und Umsetzung der Finanzstrategie von dLocal im vergangenen Jahr.
- Smooth leadership transition plan in place with experienced interim CFO appointment
- Departing CFO will remain available as advisor during transition
- Unexpected CFO departure could create temporary leadership uncertainty
- Potential disruption in financial strategy execution during transition period
MONTEVIDEO, Uruguay, March 25, 2025 (GLOBE NEWSWIRE) -- dLocal (Nasdaq: DLO), a leading cross-border payments platform, announced today that Mark Ortiz will step down from his role as Chief Financial Officer due to an unforeseen health issue that requires attention. The transition will take effect once the company has filed its annual report on Form 20-F including the 2024 annual audited financial statements (and in any event, no later than May 1, 2025).
The Board of Directors has appointed Jeffrey Brown, who currently serves as VP Finance, to act as interim Chief Financial Officer while it conducts a comprehensive search for a permanent successor.
“Over the past year, Mark has been instrumental in developing and implementing our financial strategy,” said Pedro Arnt, Chief Executive Officer of dLocal. "The Board and team extend their sincere appreciation for his leadership and contributions, and wholeheartedly support his decision to prioritize his health. We all wish him a full and speedy recovery."
Mr. Brown brings extensive financial expertise, having previously held leadership roles at Bank of America, RPX Corporation and more recently as the CFO at Geopagos. "We are confident in Jeff’s ability to guide our finance team during this transition," added Mr. Arnt.
Mr. Ortiz will, to the extent possible and permitted by his health, make himself available during the search and transition period as an advisor to the company. "Serving as CFO of dLocal has been an honor. While this is not the timing or circumstance I had envisioned for my departure, my health now requires my full focus. I have the utmost confidence in the leadership team and the company’s strong financial foundation, and I aspire to assist them to ensure a smooth transition. I remain a firm believer in the company’s future."
dLocal remains committed to executing its strategic plan and driving long-term value for shareholders. The company will provide further updates as the CFO search process progresses.
About dLocal
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements convey dLocal’s current expectations or forecasts of future events. Forward-looking statements regarding dLocal involve known and unknown risks, uncertainties and other factors that may cause dLocal’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary Statement Regarding Forward-Looking Statements” sections of dLocal’s filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.
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FAQ
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