The Tyro Payments Ltd (ASX: TYR) share price is in the red this morning, down 2.6%.
Tyro shares closed flat yesterday at $1.34 apiece. A good performance considering the All Ordinaries Index (ASX: XAO) fell by 2.5%. Tyro shares are currently trading for $1.30.
So, what are ASX investors considering today?
What are ASX investors considering?
The Tyro share price is sliding after the financial technology company announced the appointment of a new CEO.
Jonathan (Jon) Davey will take over the helm on 3 October. Davey joined the business in May 2021, after Tyro acquired health fintech Medipass, which he managed prior to the acquisition. Davey is currently CEO of Tyroâs Health business.
Robbie Cooke, the current CEO, will continue with Tyro in an advisory position through 31 December to âenable a seamless transitionâ.
Commenting on the executive appointment that looks to be pressuring the Tyro share price today, Tyroâs chair, David Thodey said:
Having completed a thorough search process, it is pleasing to appoint such a strong internal candidate. Jon is a seasoned technology executive who brings relevant experience from a 30-year career working in financial services, both within corporate and start-up environments.
Jon has been a strong member of the Tyro executive team for close to 18 months so he will hit the ground running, focusing on expediting the delivery and execution of our strategy.
Thodey extended his thanks to Cooke âfor his significant contribution over his nearly five years as CEOâ.
Davey added:
Tyro is one of Australiaâs first fintech companies and continues to be one of the country’s fastest growing technology and innovation companies. I am thrilled to have the opportunity to lead the business into a new and exciting chapter; delivering value for our shareholders, delighting our customers, and ensuring Tyro is a great place to work.
Tyro share price snapshot
Despite gaining 28% last Thursday after rejecting a takeover bid, the Tyro share price remains down 56% year-to-date. That compares to an 11% loss posted by the All Ordinaries so far in 2022.
The post Tyro share price slides on CEO news appeared first on The Motley Fool Australia.
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More reading
- Tyro share price dips amid Potentia pressure rumours
- Why Chorus, MA Financial, Tyro, and Vulcan Energy shares are dropping
- Tyro share price climbs another 10%. Could a fresh takeover bid be on the horizon?
- Nitro now Tyro: Could there be âPotentia-lâ for other ASX tech shares?
- Tyro share price rallies 31% following rejected takeover bid
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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