Michael Mueller to hand over the CEO role at Form3

Payment technology provider Form3 has announced a number of long-planned management changes which will see co-founder and chief product officer Mike Walters take over as CEO.

Existing CEO Michael Mueller will move into the role of executive chair where he will maintain some executive responsibilities including key customer relationships.

Finally, Form3’s chief operating officer and early employee Eimear O’Connor will take over from Walters as chief product officer.

“I believe that it is now the right time for Form3 to open the next chapter of its journey and implement some management changes that we have been planning for some time,” Muller said on the changes.

“As a chairman, I will work hard to ensure that we are adjusting the governance of the business to the requirements and challenges of the next stage of our evolution — with significant responsibility for payment processing at scale in all our key markets.”

Form3 was founded in 2016 to build cloud-based payment infrastructure, which is not used by some of the largest financial institutions in the world like Goldman Sachs, Lloyds and Nationwide — all of which are also investors in Form3.

These management changes come after the recent appointment of ex-NatWest exec Matt Tuck as chief commercial officer last month, which came just after a strategic investment from payment giant Visa for an undisclosed amount.