Monitise's share price drops as chief financial officer Brad Petzer steps down

Catherine Neilan
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Monitise has lost yet another member of its senior management team, prompting its share price to dip this morning.

Chief financial officer Brad Petzer is planning to step down from the role, which he has held since April 2013.

Petzer will leave the board with immediate effect, though will remain with the company until a replacement has been found.

The search for a new finance chief is now underway. Monitise's share price fell on the open, down 0.4 per cent.

Chairman Peter Ayliffe said: "On behalf of the board, I would like to thank Brad for his contribution to the company and we wish him well for the future."

His departure follows the exit of founder and co-chief executive Alastair Lukies in March, followed by Elizabeth Buse - who had taken sole control of the reins at that point - in September.

The firm appointed board member Lee Cameron to replace her and to oversee the continued implementation of Monitise's strategic review.

However all this change at the top - and Visa's decision to take a step back - has taken its toll on the digital payments company. Monitise's share price is down 88 per cent for the year to date.

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