Finablr announced on Tuesday the appointment of Robert Miller as the company’s new Chief Executive Officer. He will replace Bhairav Trivedi, taking over the apex responsibilities from January 1.
Miller joined Finablr in October 2019 as its group Human Resource Director. He has over 25 years of experience in remuneration, sales compensation and general HR.
Before Finablr, he was a partner at Deloitte’s London office for four years. Additionally, he spent half-a-decade at Aon Hewitt as a consultant and then moved to its subsidiary Radford as a partner, heading its EMEA business for another six years.
The early industry experience of the psychology graduate includes his role as a consultant at Towers Perrin and then at Ernst & Young as a senior manager.
A Deeply Troubled Company
Miller is taking charge of Finablr at a time when the company is going through severe financial troubles.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
The troubles of the company began as the board discovered $100 million in cheques written by group companies before its initial public offering (IPO) last year. The board members suspected that the money was used as security for financing arrangements for the benefit of third parties, putting the company at huge risk.
The impact on global industries by COVID-19 put a further dent on its global businesses.
Consequently, Trivedi took over the company in April, during its troubled times. Despite his resignation, he will continue to sit on the company’s board.
“On behalf of the Board, I want to thank Bhairav for his leadership, energy and commitment during a very difficult period in the Company’s history, culminating in the signing of a definitive agreement with Global Fintech Investments Holding AG,” Finablr Chairman, Michael Tomalin said.
Finance Magnates earlier reported on a takeover bid received by Finablr from a technology and software solutions company. Finablr’s board approved the offer, and the company is continuing to negotiate a share purchase agreement.