APT

Australia's Afterpay says CFO Bortoli to depart

Credit: REUTERS/STEPHEN COATES

Australian buy-now-pay-later firm Afterpay Ltd said on Thursday its Chief Financial Offer Luke Bortoli will leave the company after three years in the role, during which it became one of the world's most valuable in the sector.

Corrects headline to CFO, not CEO

Sept 24 (Reuters) - Australian buy-now-pay-later firm Afterpay Ltd APT.AX said on Thursday its Chief Financial Offer Luke Bortoli will leave the company after three years in the role, during which it became one of the world's most valuable in the sector.

Bortoli will be replaced by Rebecca Lowde, former Group CFO of fintech firm Bravura Solutions BVS.AX, who will assume her role effective Oct. 6, the company said in a statement.

Bortoli, who started as CFO in May 2018, was part of Afterpay's global expansion plans, capitalising on the sector's burgeoning popularity due to an online shopping boom triggered by the coronavirus outbreak.

During his tenure, Afterpay's shares skyrocketed, jumping more than 1,200%, with most of the gains coming in the last six months as increased investor interest and expansion plans helped turn it into one of Australia's 20 most valuable stocks.

Bortoli will remain available to assist with the transition until the end of the financial year at end-June, 2021, Afterpay said.

(Reporting by Sameer Manekar in Bengaluru; editing by Richard Pullin)

((Sameer.Manekar@thomsonreuters.com; +918061823447;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

APT

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More