Adyen hires former Klarna CFO Niclas Neglen, set to start Feb. 1
Adyen announced on Tuesday that it has hired Niclas Neglen, formerly Klarna’s group CFO, to become its chief financial officer, with Neglen scheduled to assume the role on February 1 of next year. Until Neglen arrives, interim CFO Hwa Tsao will remain in that role and then move to lead finance operations as senior vice president of group finance.
The appointment also places Neglen on Adyen’s management board. Adyen reaffirmed its existing financial guidance, stating there are no changes to its standing financial objectives. The company noted its client roster includes McDonald’s, Uber and Booking.com. In June, Adyen agreed to acquire Orb, a San Francisco‑based enterprise billing firm, for $335 million in cash.
“Despite the somewhat unorthodox nature of Mr. Neglen's long transition period (i.e., where he will remain a C-Level executive for ~5 months at a large Fintech peer), his appointment is not surprising, given extensive experience in finance and payments,” Ramsey El Assal, analyst at Cantor Fitzgerald said.
In May, Adyen said that Ethan Tandowsky would be exiting in August. In June, Adyen named Shepherd “Shep” Smith as the head of North America after Davi Strazza left that role the prior year. In July, Adyen appointed Gayathri Rajan as its new chief product officer. Also in June, Adyen agreed to buy the merchant services firm Talon.One for €750 million (about $870 million).
What we know
Dutch digital payments processor Adyen said Tuesday that it has hired Niclas Neglen as its new chief financial officer, but the former Klarna Group CFO won’t take the post until Feb. 1 of next year, according to a Tuesday press release.
Hwa Tsao, who has been serving as Adyen’s interim CFO since the exit of Ethan Tandowsky on Aug. 31, will continue in that role until Neglen arrives, the release said.
Adyen also reaffirmed its financial guidance on Tuesday, saying in its release that there were no changes to its “standing financial objectives.”
Adyen’s clients include McDonald’s, Uber and Booking.com, according to its website.
In June, Adyen said it would purchase San Francisco-based enterprise billing company Orb for $335 million in cash.