Checkout Names Revenue Operations Head as New COO

British payments company Checkout.com has a new chief operating officer.

Jenny Hadlow, who had been heading the company’s revenue operations team, will be promoted to the COO position, chief executive Guillaume Pousaz‍ said in an announcement published Wednesday (June 12).

“Jenny has a unique perspective on the requirements of managing global demand with excellence in service delivery,” Pousaz wrote. “I have no doubts that she will excel as our chief operating officer, fundamentally helping us ensure that our service and support teams deliver on our promises to our merchants.”

Hadlow will replace Céline Dufétel, who joined the company in 2021 after serving three years as chief financial officer and chief operating officer at T. Rowe Price, and is leaving for personal reasons, Pousaz said.

“Céline shaped and matured the Finance team, led the Marketing and Operations teams through change, and contributed to our DEIB initiatives, a focus that we will continue to passionately pursue,” he wrote. “I am grateful for Celine’s lasting contribution to our organization and I wish her all the best in the next phase of her journey.”

The leadership change comes in the wake of a hectic period for the company, which was valued at $40 billion in early 2022, making it Europe’s most valuable startuo. The company cut its internal tax valuation — different from the valuation determined by investors — to $11 billion later that year.

And February brought reports that Checkout.com — which is active in the U.S., Asia, Europe and the U.K. — had recorded a $126 million loss for its British business, as reduced consumer spending and higher inflation stalled revenue growth.

Also driving down revenue was a return of customers to physical stores, as well as reduced trading volumes among digital currency clients and the loss of merchant clients due to Brexit. The company has also said that its U.K. accounts did not reflect the entire group.

A source familiar with the company said the startup was on pace to be profitable this year on earnings before interest, taxes, depreciation and amortization (EBITDA).

Checkout.com launched in 2012 as a cloud-based payments platform, but has since evolved to serve as a merchant account provider that specializes in processing international payments for eCommerce businesses and crypto companies.

Last month, Checkout.com teamed with Mastercard to offer virtual cards to online travel agents.

“As part of the Mastercard Wholesale Program, which reduces costs for travel businesses through virtual card technology and an innovative pricing model, customers of Checkout.com will be able to pay their suppliers more easily and benefit from higher conversion rates by issuing virtual cards,” the companies said at the time.