Paysafe confirms all-star board of directors ahead of public listing
Payments giant set to go public via William Foley-backed SPAC and recruits six new executives
Payments solutions provider Paysafe has announced six new board members that will assume their positions when the company goes public via a reverse merger with a SPAC.
Paysafe will merge with Foley Trasimene Acquisition Corp. II in a $9bn (£6.8bn) deal, with the blank cheque company’s stockholders set to meet on 25 March to approve the transaction.
The takeover comes three years after Paysafe was sold to private equity companies Blackstone and CVC Capital in a deal worth nearly £3bn.
The newly combined business will continue to operate as Paysafe and will trade on the New York Stock Exchange under the ticker symbol PSFE.
William Foley will assume the position of chair of the board following the merger and will be joined by five new appointees.
Anthony Jabbour, concurrent CEO of Dun & Bradstreet and Black Knight, and former CEO of Morgan Stanley Bank AG in Frankfurt Dagmar Kollmann, will join the 76-year-old billionaire.
Former Playtech deputy chair Hilary Stewart-Jones and former MGM Resorts International CEO James Murren will add gambling industry experience to the heavyweight board.
Blackstone’s Jonathan Murphy will become the final new appointee to the board.
Current Paysafe CEO Phillip McHugh will retain his role and board position following the merger.
Matthew Bryant, Walter Macnee, Eli Nagler and Peter Rutland will also remain board members of the new public company, taking the total number of board members to 11.