Companies
Cellulant names finance chief acting CEO after Akshay Grover sudden exit
Friday January 05 2024
Akshay Grover has resigned as Cellulant CEO. PHOTO | POOL
Pan-African payment gateway firm Cellulant has named its chief financial officer Peter O’Toole as the acting CEO following the sudden exit of Akshay Grover who ascended to the position in October 2021.
In a statement on Thursday, the firm said the outgoing head is leaving to focus on personal matters, noting that the changes take effect immediately.
Mr Grover took up the leadership of the company on acting basis barely three months after joining Cellulant as CFO in January 2021, before being confirmed in October.
He had replaced the firm’s co-founder Ken Njoroge who resigned after 18 years at the helm.
Read: Akshay Grover replaces Cellulant co-founder as CEO
“Under his leadership, Cellulant has strengthened its position both on the African continent and internationally. His efforts have been pivotal in enhancing the Cellulant brand and driving the company’s strategic objectives,” said Cellulant.
“As Cellulant embarks on this transition, the company is committed to maintaining its momentum and continuing its growth trajectory.”
The firm further says it will strengthen its leadership team further with a number of seasoned senior leaders with international and pan-African experience in the payments space, adding it will make further announcements in the coming months.
The new acting head joined the firm last year as CFO and will henceforth be tasked with driving the strategic direction and expansion of the business.
He boasts more than 30 years of experience in banking, finance, payments and technology across Europe, the Middle East and Africa.
Mr O’Toole has served in various capacities at Interswitch, Renmoney, MBU Education Group and at digital bank Umba.
Other high-profile positions he has previously held are that of CFO at data and analytics firm Dun & Bradstreet in the United Kingdom, as well as finance and operations director at Barclays Bank in Ireland.
