An article relating to this blog post on Finextra:
VocaLink names David Yates as new CEO as King moves on
UK payments processor VocaLink has apppointed David Yates from Western Union as its new chief executive, taking over from Marion King who steps down after nine years at the helm.
Change always comes at a price, and VocaLink needs to change; and Marion is the price. It would be unkind and unfair to view her time as CEO as a failure because she made a huge difference at VocaLink. Under her watch the organisation moved from a government
bureaucracy to a commercial company that had a voice in Europe. At the same time as developing new products and services; the core business was in good hands and prospered. Marion played her part in the development of VocaLink as an ACH and as should be the
case, she left it in better health than she found it 9 years ago. We can all say we would have done it different, but given the pressure she was under to maintain the core, develop independent products and services, meet shareholder expectations which were
diverse and satisfy new investors needs her tasks were considerable. Her legacy is a company whose core business is sound and which provides a strong platform for providing the UK banking infrastructure with solid innovation. Now the debate should begin over
what role VocaLink can play in the future; it's thanks to Marion that it is poised to move in any direction the shareholders choose.