-- Stern brings extensive experience in merchant solutions
and digital payment technologies, most recently as CEO of
Edenred SA
EYSINS, Switzerland,
May 18, 2015 /PRNewswire/
-- Global Blue, the leading provider of traveller commerce
solutions including tax-free shopping and dynamic currency
conversion, today announced the appointment of Jacques Stern as Chief Executive Officer,
effective 1 August 2015. Mr. Stern
joins with a wealth of experience in merchant solutions and digital
payment technologies from his post as Chairman and CEO of Edenred
(Euronext: EDEN.PA), and previously in the travel and tourism
sector from his time as a senior executive at Accor, the leading
global hotelier. Mr. Stern also has served as a non-executive
director on the Board of Global Blue since April 2014, providing him with insight into the
company and ensuring a smooth transition to an executive role.
Mr. Stern follows Mr. David Baxby
who, after a successful CEO tenure, will transition to a new
position as Strategic Advisor to the Board and remain a meaningful
personal investor in Global Blue. In his operating role, Mr. Baxby
advanced the company in a number of ways, including by recruiting
and retaining top talent and launching new growth initiatives. The
board commented: "We would like to thank David for his
contributions, which have resulted in reacceleration of Global
Blue's growth. His focus on enhancing the traveller experience,
developing data analytics solutions, and expanding the company's
geographic footprint notably in Asia, will benefit Global Blue for years to
come."
Mr. Stern brings to Global Blue over two decades of highly
relevant experience, most recently as Edenred's Chairman and CEO.
Edenred is the world leader in prepaid corporate services, which
include the Ticket Restaurant® voucher system and numerous other
technology-enabled programs in employee benefits, expense
management, and loyalty rewards. After leading Edenred's spin-off
from the global hotelier Accor and IPO in 2010, Mr. Stern drove
impressive growth across both established markets like Western Europe and emerging markets like
Latin America. Edenred is now a
global leader in 42 countries with more than 6,000 employees,
nearly 660,000 corporate and public sector clients, 1.4 million
affiliated merchants, and 41 million beneficiaries. Edenred's
market value has grown meaningfully to more than €5 billion under
Mr. Stern's leadership, and he is credited with driving
digitisation and developing innovative solutions for Edenred's
ecosystem. Prior to Edenred, Mr. Stern spent nearly two decades at
Accor – the leading global hotelier – in various roles, including
as Chief Financial Officer, and previously as Executive Vice
President in charge of Strategy & Hotel Development and
Purchasing & Information Systems.
"We are thrilled to welcome such a dynamic and accomplished
leader to Global Blue," said the company's Board. "Jacques has a
deep understanding of both merchant and consumer needs, industry
expertise in both payments and tourism, and operating experience in
established and emerging markets. He is a world-class executive
with just the right background and track record to accelerate
Global Blue's strategy and lead its talented employees."
Mr. Stern added: "Having followed Global Blue closely for over a
year from a Board perspective, I recognised a unique opportunity to
join a business that has both existing market leadership and
tremendous growth potential. Introducing further digitisation and
value-added services into the tax-free shopping process will
benefit all of Global Blue's constituencies – merchants,
travellers, governments, employees, and shareholders alike. I look
forward to contributing to the company's already-strong management
team and corporate culture."
Global Blue is owned by Silver Lake, the global leader in
technology investing; Partners Group, the global private markets
investment manager; and Global Blue's management team.
Media Enquiries:
Brunswick Group, +44 207 404 5959
About Global Blue
Global Blue, the leading provider of traveller commerce
solutions, makes retail transactions between merchants and their
foreign customers easier and more rewarding for everyone. Having
invented the concept of Tax Free Shopping more than thirty years
ago, Global Blue now offers a range of services that help consumers
shop and spend wisely when they are in foreign countries, and help
merchants and banks better serve this international traveller
market. Global Blue works with over 270,000 affiliated retailers,
shopping brands, and hotels in 43 countries and processes over 36
million transactions per year. The company's headquarters are in
Eysins, Switzerland. For more
information, please visit
http://corporate.globalblue.com/about-us/.
