Amidst a significant restructuring of its leadership, NCR Voyix, an Atlanta-based digital commerce software company, has announced the appointment of James Kelly as its new chief executive officer and president. Kelly, who brings over two decades of extensive experience in the finance and payments sector, has been with the company in various leadership roles since October 2023, having first joined as board chair and later serving as executive chair. This move marks a notable shift for NCR Voyix, which has been navigating through a challenging financial period in the past year.
Kelly is succeeding David Wilkinson, who is stepping down from his current roles as president, CEO, and board member. Wilkinson has been instrumental in overseeing NCR Voyix’s operations through a tumultuous period, and his departure signals a new era for the company. Concurrently, Kevin Reddy has been appointed as non-executive chair, adding another layer of experienced leadership aimed at guiding NCR Voyix through its next phase of growth and transformation. The company’s decision to appoint Kelly, given his impressive track record, underscores a strategic move to leverage his expertise in technology and payments for future development.
Significant Leadership Changes and Strategic Shifts
James Kelly, formerly the CEO of EVO Payments, is widely recognized for his contributions during his 12-year tenure, which culminated in EVO Payments’ acquisition by Global Payments in March 2023. During this time, Kelly also held prominent positions at Global Payments, offering him a profound understanding of the industry. Before his executive stint at EVO Payments, Kelly honed his expertise in finance and technology through senior roles at Alvarez & Marsal and Ernst & Young. His deep-rooted knowledge in the payments ecosystem makes him an exceptional fit for NCR Voyix, a company that serves leading retailers and restaurant chains such as Walmart, Macy’s, Starbucks, and Chipotle.
The leadership restructuring at NCR Voyix comes at a time when the company is attempting to recover from financial setbacks. Reporting a $193 million loss from continuing operations over the first nine months of the year, an improvement from the $457 million loss during the same period in 2022, the figures illustrate the challenges NCR Voyix has been facing. Furthermore, the company saw a 10% drop in revenues, bringing the total to $2.14 billion. These troubled financial waters have necessitated strategic shifts and the bolstering of its executive team, aiming to steer NCR Voyix back towards profitability and sustainable growth. Kelly’s leadership is anticipated to play a pivotal role at this critical juncture.
Restructuring to Navigate Financial Challenges
The restructuring of NCR Voyix began in earnest in June 2023 when the company initiated the spin-off of its ATM business, leading to the creation of two distinct entities: NCR Voyix and NCR Atleos. This strategic decision was aimed at sharpening the company’s focus and optimizing its operational efficiency. Following this, further streamlining measures were undertaken in October 2023, which saw NCR Voyix divesting certain assets for $82 million. This divestiture included merchant contracts, the Voyix front-end authorization platform, and associated intellectual property. These moves underline the company’s attempts to shed non-core operations and realign its business model.
The overarching objective of these restructuring efforts is to enable NCR Voyix to better navigate its financial predicaments and capitalize on future growth opportunities. Kelly’s extensive background in the finance and payments sector is expected to be a driving force behind these efforts. His strong track record of leading companies through transformative phases lends credence to his capacity to steer NCR Voyix towards greater financial health. The upcoming fourth-quarter results, set to be released on February 27, will provide significant insights into the impact of these strategic changes on the company’s performance.
Future Perspectives and Growth Opportunities
NCR Voyix, a digital commerce software company based in Atlanta, is undergoing significant leadership changes. James Kelly has been appointed as the new CEO and president. Kelly, who has over 20 years of experience in the finance and payments sectors, has held various leadership roles within the company since October 2023. He initially joined as board chair and later served as executive chair. This leadership change is pivotal for NCR Voyix, as the company has faced financial challenges over the past year.
Kelly takes over from David Wilkinson, who served as president, CEO, and board member. Wilkinson played a crucial role in steering NCR Voyix through tough times, and his departure marks the beginning of a new chapter for the company. Additionally, Kevin Reddy has been named non-executive chair, bringing in more experienced leadership to help guide the company’s growth and transformation. The decision to appoint Kelly highlights NCR Voyix’s strategic move to leverage his impressive background in technology and payments for future advancements.
