Commerce tech company Payoneer has appointed former Alibaba President John Caplan as its co-CEO and director, joining CEO Scott Galit in the lead role for the company, according to a Wednesday (May 25) press release.
Caplan and Galit will lead Payoneer as co-CEOs until the end of 2023, when Caplan will become CEO and Galit will serve the company in a strategic role, the release stated.
Caplan will immediately take over the business organization and core corporate functions, while Galit will oversee Payoneer’s regulated activities and lead the company’s delivery functions, according to the release.
“[Caplan and I] share a vision of how the digital world is transforming global commerce, how [small- to medium-sized businesses (SMBs)] have a bigger role to play, and how today’s great companies must be built around customer and employee centricity,” said Galit in the release.
Caplan was president of North America and Europe at Alibaba.com, the cross-border B2B business unit of Alibaba Group. He joined Alibaba in 2017 following its acquisition of OpenSky, an SMB software platform he founded in 2009.
“I’m thrilled to be joining Payoneer,” said Caplan in the release. “…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.”
In March, Caplan announced on LinkedIn he was leaving the company after five years, just days after the company said it was looking for a new CEO for its flagship media property the South China Morning Post (SCMP), with CEO Gary Liu moving on to run Aliababa’s NFT spinoff.
Read more: Alibaba.com’s Caplan Announces Departure
Earlier this month, Payoneer debuted payment acceptance for direct-to-customer (D2C) webstores with its new service Payoneer Checkout, adding a way for merchants to work within the growing market.
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