Payments Canada in search of new CEO after Tracey Black announces departure
Tracey Black, president and CEO of Payments Canada, has announced her decision to step down from the role effective 31 March 2024, triggering a fresh search for a successor.
Tracey Black to step down as Payments Canada CEO (Image: LinkedIn)
The Ottawa-based firm asserts that Black chose not to renew her contract following a four-year tenure, during which it’s claimed she led a “series of major payment modernisation initiatives”, including the implementation of Lynx, the replacement of the Large Value Transfer System (LVTS), and the installation of the new Real-Time Rail (RTR) payment system in Canada.
Commenting on her departure via LinkedIn, Black explains that as her “tenure is coming to an end”, her “appreciation for the people of Payments Canada – who work day in and day out, reliably and without fanfare to ensure Canada’s payment systems operate seamlessly – has grown”.
She did not reveal what her next intended move will be following her departure.
Before joining Payments Canada – which she describes as a “small organisation that walks shoulder-to-shoulder with many of the largest companies in Canada” – in November 2018 as executive director of modernisation, Black worked at McKinsey & Company and was president at consultancy firm GFH Group Inc.
The Payments Canada board of directors has confirmed the commencement of a “comprehensive search” for Black’s successor. Ahead of a permanent replacement, Kristina Logue and Jude Pinto will be appointed interim co-CEOs, effective 1 April 2024.
The company states that Logue will be responsible for the day-to-day functions of the business, which includes its corporate strategy and procurement, as well as heading the firm’s human resources department. Meanwhile, Pinto will focus on “innovating Canada’s payment ecosystem with a focus on safety, resilience and inclusiveness”.
Payments Canada claims that its systems clear over $450 billion every business day through transaction methods such as cheques, bill and debit card payments, and direct deposits.
