Denarii Systems today announced that the Company's board of directors has named Juan Santaella as its new CEO.
For over five years prior to joining Denarii, Mr. Santaella was the Director of Debit Products for MasterCard's Latin America and Caribbean Region (LAC). From that position he brings significant skills, experience and market knowledge of the Prepaid space. Mr. Santaella succeeds Angel Pacheco, a stored value veteran who was a Company founder and its CEO since 2006. Mr. Pacheco will move on to head Denarii's global strategy efforts as a Chief Strategy Advisor to the Board of Directors.
Enrique Cadena, Denarii's chairman, said that: "Our search for a new leader to bring Denarii to sustained success has been focused and thorough. After this process was complete Denarii's board unanimously selected Mr. Santaella based on his track record leading a complex division at MasterCard, as well as his strong executive and personal qualities."
Mr. Pacheco, said: "We are thrilled that Juan, who has worked closely with the company on MasterCard and Denarii initiatives in the LATAM market, has chosen do come lead Denarii. It is also a wonderful opportunity for me to focus my efforts on directing Denarii's Global Strategy."
Mr. Santaella also offered his perspective on the opportunity, "From my vantage point at MasterCard having worked with many prepaid companies, Denarii represents one of the world's great opportunities in the space. It has a solid history of innovation, outstanding talent and enviable positions in key growth markets in Latin America. It's a great honor to join the Company's leadership team and have the opportunity to build on its success."