Optimal Payments Directorate Changes

Chief financial officer departs

Internet payment company Optimal Payments plc (parent group of Neteller) announced directorate changes Friday, including the departure of group CFO Keith Butcher.

Brian McArthur-Muscroft (51) will succeed Butcher as CFO and director of the company, with effect from . He has over 25 years' experience of dealing with financial strategy, with the last 20 years specialising in the technology sector.

Butcher will step down from the Board on and has agreed to remain with the company until to oversee an orderly transition and assist in the preparation of the year-end report and accounts, before taking up a new role.

McArthur-Muscroft is a widely exprienced fiancial manager with experience at Telecity Group plc where he led the IPO of the business in 2007 and raised GBP 400 million in senior debt facilities with major UK institutions to support the rapid growth of the business.

He was chosen as the ICAEW's FTSE 250 Finance Director of the Year in 2012 and Business Week's Finance Director of the Year in 2013, and currently serves as a Non-executive Director on the Board of Robert Walters plc.

In former roles, McArthur-Muscroft was CFO at Viatel, Eckoh Technologies plc and Cable & Wireless HKT Multimedia. He is also a restructuring specialist and was the Interim CFO on the successful turnaround of MCI Worldcom EMEA.

He holds a law degree and qualified as a Chartered Accountant with PricewaterhouseCoopers in London.

Optimal Payments president Joel Leonoff thanked Butcher for his dedication and contribution over the past four and a half years as CFO.

"Since joining the company in May 2010, Keith has been a key member of the Board and executive management team that has overseen a substantial turnaround in the business, which started with the acquisition of Optimal Payments Inc. in February 2011," he said.

"Keith's contribution was recognised earlier this year when he was awarded Finance Director of the Year 2014 at the Quoted Company Awards. I wish Keith continued success in his future endeavours and I am also grateful to him for agreeing to oversee the transition to Brian's tenure as the company's CFO."

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