Potential Stripe IPO Highlights Executive Changes

Former chief operations officer (COO) Claire Hughes Johnson transitioned into a corporate officer and advisory role in April 2021, and a number of executives and key staff members have changed roles over the past year, The Information reported Monday (Jan. 31).

Hughes Johnson has been with the payments giant since 2014, just five years after the company launched. As a corporate officer and adviser, she dispenses corporate strategy for various projects while also coaching managers, sources told The Information.

She has returned to her hometown of Boston, and has also been appointed to several boards, including that of self-driving company Aurora and publisher The Atlantic. She’s also dipping her toe in startup investments, per the report.

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Outside of Hughes Johnson’s role, there has been a personnel reshuffling at Stripe. According to the report, the former COO’s direct reports are split among other executives, and some new faces will join the veteran employees reporting to Dublin, Ireland-based co-founders and brothers Patrick and John Collison.

In another personnel shift, Stripe moved its head of engineering for banking products, Guillaume Poncin, to head its growing crypto operation. In November, the company also appointed Matt Huang, co-founder of crypto-focused venture capital firm Paradigm, to its board.

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At the end of 2020, former General Motors chief financial officer (CFO) Dhivya Suryadevara also joined Stripe as its CFO, and ex-Amazon executive Mike Clayville was named Stripe’s chief revenue officer.

The personnel and other changes coincide as Stripe continues mulling its decision for an initial public offering (IPO), with a possible market cap topping PayPal.

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