Former Telstra Digital Executive Director Gerd Schenkel has resigned from his position of CEO of Tyro Payments after just eight months in the top job.

In a statement published yesterday the company said Schenkel had chosen to leave the company to “focus on other business opportunities and spend more time with family.”

Tyro director and investor Robert Ferguson has stepped in as acting Managing Director.

Gerd SchenkelTyro is embarking on a significant growth program developed over the past 12 months, including new product design, improved operating systems and distribution.

After more than 10 years as a startup, Tyro wants to scale up the business, having recently gained its banking licence.

“My departure will allow a new CEO to lead the implementation of Tyro’s significant growth program. I felt privileged to lead the organisation and I thank the Board for the opportunity,” Schenkel said.

In April 2017, Andrew Rothwell co-founder and head of sales at Tyro left the organisation to join Data Republic as Chief Operating Officer.

Tyro Chairman Kerry Roxburgh thanked Schenkel for his positive contribution to the company and welcomed Robert Ferguson to the role of acting MD, who will oversee the search for a new CEO.

“Rob, who is a long term investor in and a director of Tyro, has a profound understanding of our business, of its strategy and of its potential,” Roxburgh said.

“Rob’s extensive executive experience in banking, principally as Managing Director of Bankers Trust Australia from 1985 to 1999 makes him a natural choice for this role. I have every confidence Rob Ferguson will continue to deliver on the Tyro strategy. Terms and conditions of his appointment will be announced, when approved by the Board. On behalf of the Board and of all Tyro investors, I thank Rob for accepting this appointment.”

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