18 August 2017
visit www.avoka.com

Earthport CEO jumps ship as firm chases franchise payment

20 January 2010  |  7087 views  |  0 graph 2

Earthport chief executive officer James Bergman has resigned from the UK-based payments firm "with immediate effect", as rumours swirl about the future viability of the international money transfer business.

Bergman's resignation was signalled in a terse stock exchange statement. His duties have been taken on by the company's Executive team.

Shares in the loss-making company have sunk recently amid concern over a missing £3.25 million pay-out expected from a franchise deal signed with Zink Financial.

In a statement, Earthport says: "Members of the Executive Team have recently been engaged in a constructive dialogue with the principal of Zink regarding receipt of the payment due on 21 December 2009. Earthport expects to make further announcements as appropriate."

The statement reassured the markets, which marked the shares up four per cent to 13 pence, still way off a year high of 80 pence.
KeywordsFINDEXPEOPLE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Earthport secures £3.25 million first-year franchise deal

Earthport secures £3.25 million first-year franchise deal

23 November 2009  |  5744 views  |  0 comments
Earthport FY net loss widens

Earthport FY net loss widens

20 October 2009  |  5772 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7593 views comments | 22 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7281 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6013 views 1 | 5 tweets | 3 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
5956 views comments | 10 tweets | 7 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5838 views comments | 11 tweets | 9 linkedin

Featured job


Brussels or Frankfurt

Find your next job