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Joe Aston

Afterpay missed a trick with CFO succession

Joe AstonColumnist

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On Thursday morning, Afterpay announced the resignation of its chief financial officer, Luke Bortoli, and his succession by former Salmat CEO Rebecca Lowde. The switch is effective on October 6, and Bortoli’s contractual notice period is only three months. Yet he’s hanging around for the longest “comprehensive transition” of modern history, leaving “at the end of the 2021 financial year”. Which, by no coincidence, is just 21 days after his final batch of 450,000 options vests.

Bortoli’s retirement is not due to ill-health, which is welcome news given his potential exposure to polymer poisoning (symptoms are common in patients who report rolling around naked in $100 bills).

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Joe Aston helmed The Australian Financial Review's Rear Window column from 2012 to 2023. Connect with Joe on Facebook and Twitter.

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    Original URL: https://www.afr.com/rear-window/afterpay-missed-a-trick-with-cfo-succession-20200924-p55yxw