Melissa Smith has officially taken on the role of CEO of corporate payments technology provider Wex, replacing Michael E. Dubyak, the previous chairman and CEO, who becomes the executive chairman of the board through the end of 2014.

The move completes a succession plan originally announced in May 2013.

Smith joined Wex in 1997 and most recently served as president, with responsibility for the day-to-day operations of the company on a global basis. During the transition period over the past few months, she has worked with Dubyak to oversee the execution of the company’s initiatives, as well as strategic planning for 2014 and future years.

These initiatives include leveraging prepaid and debit to expand into new markets, and the introduction of a virtual card for healthcare claims in partnership with Alegeus.

Smith has also served as president of the Americas for Wex.

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