Insights

After 40 Years of Service in Financial Industry, This Veteran CFO Retires

by Damian Chmiel

  • Boku’s CFO, Keith Butcher, announced his decision to end his professional career.
  • The succession plan is already in place to ensure a smooth transition.

executive move

In a significant leadership change, global mobile payment solutions provider Boku, Inc. (AIM: BOKU) has announced that its Chief Financial Officer (CFO), Keith Butcher, will be retiring from the company. Butcher, who has played a crucial role in Boku’s financial success over the past six years, will step down from the board at the upcoming AGM on 22 May 2024.

Boku Announces Retirement of CFO Keith Butcher

To ensure a smooth transition, Butcher will remain an employee until October 2024 and then continue as a consultant to the business until April 2025. The company has already initiated a process to appoint his successor and expects to make a further announcement in due course.

“I want to personally thank Keith for his contribution to Boku over the past six years, a time of considerable success for the Company,” Stuart Neal, the new CEO of Boku said, noting that Butcher deferred his decision to retire to allow for a seamless CEO transition following the retirement of Jon Prideaux at the end of 2023.

He joined Book in 2017 as a Non-Executive Director and took over the role of CFO two years later. Previously, he was associated with Thredd, Blancco Technology Group, and for five years with Paysafe Group, where he also served as the Finance Director.

“The Company is in a strong position to capitalize on its significant momentum in leading the world in aggregating Local Payment Methods for many of the world’s largest companies,” Chairman Richard Hargreaves echoed Neal’s sentiments, thanking Butcher for helping steer Boku to its current strong financial position.

Boku, which provides mobile payment solutions to global leaders such as Amazon, Meta Platforms, Google, Microsoft, Netflix, Sony, Spotify, and Tencent, remains confident in its ability to continue its growth trajectory following Butcher’s retirement.

It marks another high-profile retirement announcement this week, after HSBC Holdings Plc’s Chief Executive Officer, Noel Quinn, resigned after leading the bank for nearly five years.

Boku Ends 2023 with 178% Profit Jump

The provider of localized payment solutions concluded 2023 with a pre-tax profit of $11.4 million, marking a 178 percent increase. The company’s net profit after taxes was $10.1 million, up from $4.3 million the year before.

Although the UK-listed company recorded a $24.6 million gain from discontinued operations, this amount was not included in the net after-tax profits.

These earnings figures were released after the payments firm had previously reported a 30 percent rise in revenue to $82.7 million. Its adjusted EBITDA for the year was $25.8 million, showing a 33 percent year-over-year increase and surpassing market forecasts. Additionally, the company gained from higher interest rates, with interest income rising to $1.9 million, compared to $0.2 million in the prior year.

In a significant leadership change, global mobile payment solutions provider Boku, Inc. (AIM: BOKU) has announced that its Chief Financial Officer (CFO), Keith Butcher, will be retiring from the company. Butcher, who has played a crucial role in Boku’s financial success over the past six years, will step down from the board at the upcoming AGM on 22 May 2024.

Boku Announces Retirement of CFO Keith Butcher

To ensure a smooth transition, Butcher will remain an employee until October 2024 and then continue as a consultant to the business until April 2025. The company has already initiated a process to appoint his successor and expects to make a further announcement in due course.

“I want to personally thank Keith for his contribution to Boku over the past six years, a time of considerable success for the Company,” Stuart Neal, the new CEO of Boku said, noting that Butcher deferred his decision to retire to allow for a seamless CEO transition following the retirement of Jon Prideaux at the end of 2023.

He joined Book in 2017 as a Non-Executive Director and took over the role of CFO two years later. Previously, he was associated with Thredd, Blancco Technology Group, and for five years with Paysafe Group, where he also served as the Finance Director.

“The Company is in a strong position to capitalize on its significant momentum in leading the world in aggregating Local Payment Methods for many of the world’s largest companies,” Chairman Richard Hargreaves echoed Neal’s sentiments, thanking Butcher for helping steer Boku to its current strong financial position.

Boku, which provides mobile payment solutions to global leaders such as Amazon, Meta Platforms, Google, Microsoft, Netflix, Sony, Spotify, and Tencent, remains confident in its ability to continue its growth trajectory following Butcher’s retirement.

It marks another high-profile retirement announcement this week, after HSBC Holdings Plc’s Chief Executive Officer, Noel Quinn, resigned after leading the bank for nearly five years.

Boku Ends 2023 with 178% Profit Jump

The provider of localized payment solutions concluded 2023 with a pre-tax profit of $11.4 million, marking a 178 percent increase. The company’s net profit after taxes was $10.1 million, up from $4.3 million the year before.

Although the UK-listed company recorded a $24.6 million gain from discontinued operations, this amount was not included in the net after-tax profits.

These earnings figures were released after the payments firm had previously reported a 30 percent rise in revenue to $82.7 million. Its adjusted EBITDA for the year was $25.8 million, showing a 33 percent year-over-year increase and surpassing market forecasts. Additionally, the company gained from higher interest rates, with interest income rising to $1.9 million, compared to $0.2 million in the prior year.

Damian Chmiel

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Damian’s adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

  • 1403 Articles
  • 28 Followers

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    Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience. 20-22 MAY 2024 Sandton Convention Center, Sandton, South Africa Register now to secure your spot: https://bit.ly/3JbUpCK #fmas #fmas24 #fmevents #networking #finance #africa

    Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience. 20-22 MAY 2024 Sandton Convention Center, Sandton, South Africa Register now to secure your spot: https://bit.ly/3JbUpCK #fmas #fmas24 #fmevents #networking #finance #africa

    Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience. 20-22 MAY 2024 Sandton Convention Center, Sandton, South Africa Register now to secure your spot: https://bit.ly/3JbUpCK #fmas #fmas24 #fmevents #networking #finance #africa

  • Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

    Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

    Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

    Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

    Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

    Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

    Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin. We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls. Tune in for expert analysis on the future of trading and innovative funding models. The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply. This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official 🐦 X (Twitter): https://twitter.com/financemagnates/ 📡 RSS Feed: https://www.financemagnates.com/feed/ ▶️ Telegram: https://t.me/financemagnatesnews Don’t miss out on our latest videos, interviews, and event coverage. 🔔 Subscribe to our YouTube channel for more!🔔

    Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin. We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls. Tune in for expert analysis on the future of trading and innovative funding models. The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply. This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official 🐦 X (Twitter): https://twitter.com/financemagnates/ 📡 RSS Feed: https://www.financemagnates.com/feed/ ▶️ Telegram: https://t.me/financemagnatesnews Don’t miss out on our latest videos, interviews, and event coverage. 🔔 Subscribe to our YouTube channel for more!🔔

    Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin. We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls. Tune in for expert analysis on the future of trading and innovative funding models. The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply. This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official 🐦 X (Twitter): https://twitter.com/financemagnates/ 📡 RSS Feed: https://www.financemagnates.com/feed/ ▶️ Telegram: https://t.me/financemagnatesnews Don’t miss out on our latest videos, interviews, and event coverage. 🔔 Subscribe to our YouTube channel for more!🔔

    Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin. We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls. Tune in for expert analysis on the future of trading and innovative funding models. The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply. This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official 🐦 X (Twitter): https://twitter.com/financemagnates/ 📡 RSS Feed: https://www.financemagnates.com/feed/ ▶️ Telegram: https://t.me/financemagnatesnews Don’t miss out on our latest videos, interviews, and event coverage. 🔔 Subscribe to our YouTube channel for more!🔔

    Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin. We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls. Tune in for expert analysis on the future of trading and innovative funding models. The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply. This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official 🐦 X (Twitter): https://twitter.com/financemagnates/ 📡 RSS Feed: https://www.financemagnates.com/feed/ ▶️ Telegram: https://t.me/financemagnatesnews Don’t miss out on our latest videos, interviews, and event coverage. 🔔 Subscribe to our YouTube channel for more!🔔

    Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin. We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls. Tune in for expert analysis on the future of trading and innovative funding models. The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply. This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official 🐦 X (Twitter): https://twitter.com/financemagnates/ 📡 RSS Feed: https://www.financemagnates.com/feed/ ▶️ Telegram: https://t.me/financemagnatesnews Don’t miss out on our latest videos, interviews, and event coverage. 🔔 Subscribe to our YouTube channel for more!🔔

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