WAG Payment Solutions PLC on Tuesday named Oskar Zahn as its new chief financial officer, effective from Aril 17.
WAG Payment Solutions, known as Eurowag, processes toll and fuel payments for trucks around Europe.
In October, Eurowag said CFO Magdalena Bartos will step down after three years in the role.
The company said she will remain with Eurowag until the acquisition of Grupa Inelo SA is complete and the company’s 2022 full year results are finalised. It is expected that Bartos will step down on April 30.
The company agreed to buy Inelo in October, a fleet management solutions and work time management provider in Poland and Slovenia, for up to €306 million.
As part of the company’s overall succession planning, David Forth was appointed at the start of February to support Bartos and ensures a ‘smooth transition’ to the company’s new CFO. Eurowag said Forth is a ‘senior finance professional with wide international experience.’
Zahn will be appointed as an executive director on May 12, following the next board meeting, before becoming CFO.
Zahn was most recently CFO at XP Power Ltd, a Singapore-based maker of power controllers. Zahn joined XP Power in May 2021.
Prior to XP Power, he was CFO of Scapa Group PLC, a manufacturer to the Healthcare and Industrial markets, from 2018 until its acquisition by SWM International Inc. in early 2021.
Chair Paul Manduca said: ‘Following a rigorous selection process, I am delighted to welcome Oskar to Eurowag and the board. With his extensive experience and proven track record working across sectors and geographies, there is no doubt he will make a significant contribution to our group’s future success.’
Shares in Eurowag were trading 1.4% lower at 77.10 pence each in London on Tuesday morning.
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