Ingenico shakes up leadership with new CEO
France-based Ingenico has named a new CEO a month after receiving an unsolicited takeover bid, signaling a strategy shift in the face of increasing pressure on the last of the independent payment terminal hardware giants.
Philippe Lazare is exiting his role as chairman and CEO after leading the company for 11 years, Ingenico said in a Monday press release.
Bernard Bourigeaud, an Ingenico board member since 2016, has been named chairman. Bourigeaud founded the French consulting firm Atos in 1997 and sold it in 2014, according to the release. Previously he headed Deloitte in France.
Nicolas Huss, 54, who joined Ingenico in 2017 as executive vice president in charge of strategy and performance and was named chief operating officer earlier this year is the new CEO, Ingenico said in the release. Huss also joins Ingenico’s board now, the company added.
Prior to joining Ingenico in July 2018, Huss was CEO of Visa Europe for about four years. Previously he was CEO of Avantacard in Spain and held key posts at GE Capital and GE Money in Europe and Mexico, according to the release.
Lazare, who guided Ingenico through global expansion and diversification, was appointed a board member of the company in 2005. He was named CEO in 2007 and added chairman title at the beginning of 2010.
In October, Natixis SA, a Paris-based investment group, approached Ingenico for acquisition and the payments company declined the offer.
Ingenico over the last few years has faced downward pressure on revenues as payments move from hardware-based POS devices to more software and cloud-based technology. Peers including Verifone and Diebold Nixdorf were already acquired or merged.
More than half of Ingenico’s US$3 billion derives from electronic payment transactions, according to company reports.