Summary
CORPAY, INC. (CPAY) announced the resignation of its Global Chief Financial Officer, Charles R. Freund, effective October 3, 2022. Mr. Freund is leaving to pursue a CFO role at a private equity-backed software company. Importantly, the company stated that his resignation is not due to any disagreements regarding operations, policies, accounting practices, or financial reporting, which should provide some comfort to investors regarding the company's internal health. In response to this departure, CORPAY has appointed Alissa Vickery as interim Global Chief Financial Officer, effective immediately upon Mr. Freund's exit. Ms. Vickery, who joined the company in 2011, has served as Chief Accounting Officer since September 2020 and has extensive experience in accounting, external reporting, and internal audit. The company has initiated a search for a permanent CFO.
Key Highlights
- 1Charles R. Freund resigns as Global Chief Financial Officer, effective October 3, 2022.
- 2Mr. Freund's departure is to accept a CFO position at a private equity-backed software company.
- 3The company explicitly states Mr. Freund's resignation is not related to any disputes or disagreements with the company or its Board.
- 4Alissa Vickery appointed as interim Global Chief Financial Officer.
- 5Ms. Vickery has a long tenure with CORPAY, joining in 2011 and serving as Chief Accounting Officer since September 2020.
- 6Ms. Vickery has significant experience in accounting, external reporting, and internal audit.
- 7CORPAY has initiated a search for a new permanent Chief Financial Officer.