Monitise says CFO Petzer to step down
Dec 1 (Reuters) - Monitise Plc said its Chief Financial Officer Brad Petzer would step down, as the mobile banking technology company continued to see top management departures.
Petzer will resign from the board with immediate effect but will remain with the business until a new CFO is found, the company said.
Petzer had joined the board in April 2013 and had served as CFO since then.
Monitise's both co-CEOs quit the company this year amid growing competition from free mobile payment systems offered by the likes of Google Inc and Apple Inc.
Elizabeth Buse quit in September as chief executive after just over a year in the post, while founder and co-CEO Alastair Lukies stepped down in March.
Founded in 2003, Monitise blazed a trail by linking banks and mobile operators to build a business capable of handling billions of dollars a year in mobile payments, purchases and money transfers.
However, it has issued a string on warnings on the back of a change last year in its business model, to subscriptions from one based on more attractive licensing deals. (Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)
