Paysafe Expands its Board with the Appointment of Mark Brooker as Non-Executive Director

Rhea-AI Summary

Paysafe (NYSE: PSFE) announced the appointment of Mark Brooker as an independent non-executive board director effective July 22. Brooker, with extensive experience in the payments and iGaming sectors, previously held COO roles at Trainline and Betfair Group. He has significant financial industry experience from firms like Morgan Stanley and has served on several boards, including Findmypast and Future PLC. CEO Philip McHugh emphasized that Brooker's insights will be vital for Paysafe's growth strategy in the U.S. iGaming market and overall specialized payments innovation.

Positive

• Mark Brooker brings extensive experience in iGaming and payments, which could enhance strategic direction.
• Brooker's appointment reflects a diversification of perspectives on the board, potentially benefiting company growth.

Negative

• Concerns may arise regarding continuity due to Brooker's recent transition to the board, posing risks in strategic alignment.

Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced it has appointed seasoned executive, Mark Brooker, as an independent non-executive board director effective July 22. Brooker joins as an additional member of the board, which is led by chairman Bill Foley, and also includes executive director and Paysafe CEO, Philip McHugh.

Brooker brings extensive and highly relevant executive experience to the team. He was previously chief operating officer for Trainline, Europe’s largest independent retailer of rail and coach tickets. Before Trainline, he was chief operating officer of Betfair Group PLC, a leading online gambling operator and now part of Flutter Entertainment. In his earlier career, he spent 17 years in investment banking working for the likes of Morgan Stanley, Merrill Lynch, NatWest and NM Rothschild & Sons.

Brooker also brings a diverse range of non-executive board director experience and currently sits on the boards of Findmypast, a leader in online genealogy, where he is chairman; Future PLC, a global platform for specialist media and member of the FTSE250; Equiniti Group, a leading provider of share registration, pension administration and other technology enabled business outsourcing; and Seedrs, a digital fund-raising platform for early-stage businesses. He also recently served as a non-executive director of William Hill PLC, one of the largest gambling operators in the UK, before its acquisition by Caesars Entertainment in April this year.

Brooker holds a master’s degree in Engineering, Economics and Management from Oxford University in the UK.

“Mark brings a wealth of highly applicable and complementary experience to further strengthen our board that we believe will be invaluable as we continue our growth as a newly public company and specialized payments leader,” said Philip McHugh, CEO of Paysafe. “We’re particularly excited to benefit from Mark’s unique input and perspectives with regards to iGaming – an industry we are intensely focused on as the U.S. market ramps up.”

Mark Brooker added: “I am thrilled to be joining the Paysafe Board at such an exciting time and I look forward to helping the company with its ambitions to both grow and innovate in specialized digital payments in iGaming as well as other industries. My goal is to continue to help Paysafe add value to shareholders and stakeholders alike.”

With Brooker’s appointment, the Paysafe board is now comprised of 12 directors, bringing decades of industry experience across payments, banking, technology, iGaming, entertainment, legal & regulatory affairs, capital markets and M&A. Click here for full details of the Paysafe Board.

About Paysafe Limited

Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of US $92 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.

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FAQ

What is the significance of Mark Brooker's appointment to Paysafe's board?

Mark Brooker's appointment is significant as he brings relevant expertise in iGaming and payments, which aligns with Paysafe's growth strategy.

When did Mark Brooker join the Paysafe board?

Mark Brooker joined the Paysafe board as an independent non-executive director on July 22.

How might Brooker's experience impact Paysafe's focus on iGaming?

Brooker's extensive experience in the iGaming industry could provide valuable insights and drive innovation in Paysafe's strategies.