Worldpay Co-CEO Philip Jansen leaves

  • Push-out Score determined
  • After less than one year in the position
  • Praise and thanks for Jansen
  • Dual chief executive officer role eliminated
  • Charles Drucker becomes sole chief executive officer
  • Jansen spoke at length and said 97 words

(exechange) — Cincinnati, Ohio and London, Great Britain, September 19, 2018 — Philip Jansen, co-chief executive of Worldpay, leaves. As announced by Worldpay, Inc. in a news release and in a regulatory filing published on Wednesday, September 19, 2018, Philip E. R. Jansen leaves his post as co-chief executive officer at the payments technology company after less than one year in the role, effective December 31, 2018.

Worldpay eliminates the dual chief executive officer role. Charles Drucker will be sole chief executive officer.

“Now is the right time”

Jansen’s departure from the Co-CEO post is explained as follows. Jansen said: “As planned, with the completion of the initial phase of the integration, now is the right time for the company to transition to having a single CEO lead the business.”

Precise information about Jansen’s future plans was not immediately available.

“Step down”

Worldpay said: “[O]n Dec. 31, 2018, Philip Jansen will step down as co-chief executive officer and a member of the board of directors. At that time, the Company will transition to a single chief executive officer, which will be current Executive Chairman and co-CEO Charles Drucker.”

Worldpay further said: “[O]n September 17, 2018, Philip Jansen, the Company’s Co-Chief Executive Officer and a member of the Company’s Board of Directors …, agreed to step down as Co-Chief Executive Officer, effective December 31, 2018, at which time Mr. Jansen will also resign as a member of the Board, and the size of the Board will be reduced to eleven directors.”

Share price rise since February 2018

The change follows a rise in the share price of Worldpay, Inc. since February 2018.

Chaired by Charles Drucker

Worldpay, Inc. is chaired by Charles Drucker.

Charles Drucker serves as Worldpay’s Co-Chief Executive Officer and Executive Chairman, positions he has held since January 2018.

In the position of Co-CEO since 2018

Philip Jansen was appointed a Director and Co-Chief Executive Officer of Worldpay, Inc. on January 16, 2018.

Prior to this appointment he was chief executive officer of Worldpay Group plc from April 2013, having previously been chief executive officer of Brakes Group between 2011 and 2013.

Prior to that Jansen held a variety of senior roles in Sodexo Holdings Limited, most recently as group chief operating officer and chief executive officer, Europe, South Africa and India.

Earlier in his career, Jansen was chief operating officer of MyTravel plc and managing director of Telewest Communications PLC.

He started his career with Procter & Gamble.

At the time of Jansen’s appointment as co-chief executive officer at Worldpay, Charles Drucker, then President and Chief Executive Officer of Vantiv, had said: “Our new executive team leverages the strong talent of the two companies. We’ve designed the combined company executive roles in line with the strategic rationale of the transaction, ensuring that we will capitalize on the revenue opportunities and cost synergies before us. Vantiv and Worldpay are stronger together, and we will be able to achieve more combined than either of us could do alone.”

At the time of Jansen’s appointment as co-chief executive officer at Worldpay, Philip Jansen, then Chief Executive Officer of Worldpay, had noted: “The executive talent we’ve brought together will provide great continuity for the business and will help us have a fast-start in the market as the transaction closes. Given the robust integration planning we’ve been conducting over the past several months, we expect our integration to be seamless for our clients and partners. With this new executive team, Charles and I look forward to creating and leading the world’s strongest global omni-commerce payments provider.”

Push-out Score determined

Read the full story in the exechange report 39.2018 ($).