Tyro Payments Ltd. appointed David Thodey as chairman ahead of a possible IPO, The Australian Financial Review reported Aug. 30.
Thodey, the former Telstra Corp. Ltd. CEO, will replace Kerry Roxburgh as chairman after Tyro's annual general meeting in October.
The appointment came after Tyro's board recently hired advisers for its potential IPO, which could take place as early as November and value the company at over A$1 billion, based on global equivalent industry multiples, the publication noted.
Tyro is the fifth-largest provider of electronic funds transfer at point of sale, or EFTPOS, terminals in Australia after the country's four major banks. The company also launched its online and mobile application payments system in 2019 as part of its plan to shift from hardware to software.
