Alpha Group International plc, (AIM: ALPH), a provider of financial solutions, announced Tuesday that Morgan Tillbrook has decided to step down as Chief Executive and Board Director on December 31. He will be succeeded by Clive Kahn, who has been the company's Chairman since 2016. Kahn will be appointed as Chief Executive from January 1, 2025.
Tillbrook will continue in his role as CEO until December 31, and will then remain available to provide strategic advice to the company on an ongoing basis.
Further, Kahn will continue in his role as Chairman of Alpha until November 1, 2024 when he will be succeeded by the Group's Chair Designate and current Independent Non-Executive Director, Dame Jayne-Anne Gadhia.
The company noted that Kahn's appointment coincides with the recent sale of his company, takepayments, to Global Payments in April 2024, and the forthcoming expiry of his term as Chair at Alpha, which was originally planned for March 2025.
He will become an Executive Director of Alpha on a full-time basis as soon as he can clear his commitments at Global Payments, presently planned for November 1.
Kahn joined Alpha Group as Chairman prior to its IPO in 2016. He has held this role alongside his position as CEO of takepayments, a payments solution business he acquired with partners in December 2015.
Tillbrook also commited to the Board that he will retain a shareholding of no less than 10% for at least three years from the date of this announcement. Kahn currently has around 0.83% shareholding in the Group and has committed to meaningfully increase his equity stake.
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