Priority Technology Holdings, Inc. Announces New Leadership Roles

Rhea-AI Summary

Priority Technology Holdings, Inc. (NASDAQ: PRTH) announced new leadership roles to enhance its growth trajectory. Sanj Goyle is appointed to lead the consumer finance division, while Praveer Kumar takes on the role of CTO. Sean Kiewiet transitions to Chief Strategy Officer and Carlos Navarro joins as Chief Revenue Officer. CEO Tom Priore emphasized that these appointments will strengthen the company's capabilities in banking as a service and innovation processes, contributing to maximizing shareholder value. The company continues to focus on integrating payments and banking technologies.

Positive

• New leadership appointments are aimed at driving growth and innovation.
• Sanj Goyle's expertise in consumer finance strengthens product offerings.
• Praveer Kumar's technology background is expected to accelerate product initiatives.
• Carlos Navarro's track record in revenue generation supports domestic and international initiatives.

Negative

• None.

ALPHARETTA, Ga., Oct. 4, 2021 /PRNewswire/ -- Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority"), a leading payments technology company helping customers collect, store, and send money, today announced several new roles among its leadership team.

New leadership roles include:

• Sanj Goyle, former CEO of Finxera, Inc., will lead Priority's consumer finance division
• Praveer Kumar, former Chief Technology Officer (CTO) of Finxera, was appointed Priority's new CTO, a position previously held by Sean Kiewiet
• Kiewiet has been named to the newly created position of Chief Strategy Officer
• Carlos Navarro, formerly with JP Morgan Chase and Elavon, has joined the company as Chief Revenue Officer

"We are excited to add depth and breadth to our team in key roles we have identified to drive our accelerating growth," noted Tom Priore, Chairman and Chief Executive Officer of Priority. "Sanj's leadership and extensive industry knowledge in the consumer finance and banking as a service segment positions us well to roll out banking as a service across our product offerings and to deepen our consumer finance offering.  In addition, Praveer's deep experience managing global technology teams that deliver products on precision timelines will help accelerate our product initiatives across all business lines."   

"To build out our long-term strategy, Sean's vision, creativity and deep payments knowledge will be essential to our intent to build a process for innovation that drive strategic growth initiatives at Priority," continued Priore. "These changes, coupled with the addition of Carlos Navarro and his proven track-record executing on domestic and international revenue initiatives positions our talented management team to best leverage our technology platform and human capital to maximize shareholder value."

About Priority Technology Holdings, Inc.

Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value, payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services, and other statements identified by words such as "may," "will," "should," "anticipates," "believes," "expects," "plans," "future," "intends," "could," "estimate," "predict," "projects," "targeting," "potential" or "contingent," "guidance," "anticipates," "outlook" or words of similar meaning. These forward-looking statements include, but are not limited to, expected timing of the closing of the merger with Finxera, the expected returns and other benefits of the merger to shareholders, expected improvement in operating efficiency resulting from the merger, estimated expense reductions resulting from the transactions and the timing of achievement of such reductions, our 2021 outlook and statements regarding our market and growth opportunities. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements.   These forward-looking statements may include, but are not limited to, statements about the effects of the COVID-19 pandemic on our revenues and financial operating results.  Our actual results could differ materially, and potentially adversely, from those discussed or implied herein.

We caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in our Securities and Exchange Commission ("SEC") filings, including our Annual Report on Form 10-K and our Quarterly Report on Form 10-Q filed with the SEC on March 31, 2021 and August 16, 2021, respectively. These filings are available online at www.sec.gov or www.PRTH.com.

We caution you that the important factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences we anticipate or affect us or our operations in the way we expect. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.

View original content:https://www.prnewswire.com/news-releases/priority-technology-holdings-inc-announces-new-leadership-roles-301391866.html

SOURCE Priority Technology Holdings, Inc.

FAQ

What recent leadership changes occurred at Priority Technology Holdings (PRTH)?

Priority Technology Holdings announced several leadership appointments, including Sanj Goyle as head of consumer finance, Praveer Kumar as CTO, Sean Kiewiet as Chief Strategy Officer, and Carlos Navarro as Chief Revenue Officer.

How will the new leadership at PRTH impact the company's growth?

The new leadership team is expected to enhance growth through improved banking as a service and innovation strategies, leveraging their industry experience.

Who is the new Chief Technology Officer at Priority Technology Holdings (PRTH)?

Praveer Kumar has been appointed as the new Chief Technology Officer at Priority Technology Holdings.

What is the focus of Sanj Goyle's new role at PRTH?

Sanj Goyle will lead Priority's consumer finance division, aiming to enhance the company's offerings in banking as a service.

What are the expected benefits of the leadership changes at PRTH?

The leadership changes are designed to maximize shareholder value by leveraging industry expertise and accelerating product initiatives.