Payoneer appoints John Caplan as co-CEO

John Caplan will serve as Payoneer’s co-chief executive officer and director alongside Scott Galit, effective immediately

Payments fintech Payoneer has lined up a new chief executive officer for when the current incumbent steps down at the end of 2023.

John Caplan will serve as co-chief executive officer and director alongside Scott Galit, effective immediately.

They will lead the US-based fintech, which bills itself as the world’s go-to partner for digital commerce, during a transition period until the end of next year, when Caplan will take the helm as chief executive officer and Galit will continue in a strategic role.

Caplan will use his experience working with global companies to drive Payoneer’s growth at scale, expand the company’s suite of products, and serve customers who are scaling businesses in today’s digital economy, all in close collaboration with Galit.

He will assume leadership over the business organisation and core corporate functions. Galit will continue to oversee Payoneer’s regulated activities and lead its delivery functions.

Commenting on the news, Galit said: “I have known John professionally for several years and have great admiration and respect for his accomplishments and his values. We share a vision of how the digital world is transforming global commerce, how SMBs have a bigger role to play, and how today’s great companies must be built around customer and employee centricity.”

“The opportunities in front of Payoneer and our customers are vast. The board of directors and I believe the next decade will require transformational leadership to match those opportunities. I am excited to partner with John as Payoneer continues to build a platform tailor-fit for the new global economy.”

Caplan is an executive, investor and entrepreneur with a track record of scaling companies in the digital economy. Most recently, he was president of North America and Europe at Alibaba.com, the cross-border B2B business unit of Alibaba Group.

In this role, he helped lead its transformation into one of Alibaba Group’s fastest growing and most profitable business units.

Caplan joined Alibaba’s team in 2017 following its acquisition of OpenSky, a software platform he founded in 2009 that empowered ecommerce businesses to optimise their distribution across marketplaces.

Avi Zeevi, chairman of Payoneer, commented: “I am delighted to welcome John to Payoneer. He is an inspiring leader and experienced company-builder. Payoneer is a global brand trusted by millions of businesses in over 190 countries and territories worldwide. The board is confident John and Scott will be a great team that will leverage Payoneer’s assets and current momentum to lead us into our next chapter of growth.”

Caplan added: “I’m thrilled to be joining Payoneer. [The fintech] has robust financials, an industry leading portfolio of services, a large and growing global customer base and a trusted partnership ecosystem that cannot be easily replicated. We have the can-do spirit, capability, trusted brand, talented and diverse global team to engage and serve businesses worldwide, and in doing so create shareholder value for many years to come.”

“This is the time for us to be even bolder as we continue to build. I am honored to partner with Scott and the Payoneer team to do just that, carrying on the company’s mission of bringing a universe of opportunities to businesses of any size, anywhere in the world.”

“Payoneer’s customers are the heartbeat of the entrepreneurial global economy. When they do well, local communities thrive.”

Image: Payoneer

Mark Dugdale