Marqeta (NASDAQ: MQ) has hired Mike Milotich as the company’s new Chief Financial Officer, effective February 22, 2022, according to a company statement. Milotich is said to have been at Visa for ten years most recently as Senior Vice President of Investor Relations and Corporate Finance. He has also worked at both American Express and PayPal.
Marqeta states that current CFO Tripp Faix has decided to step down to spend more time with family. Faix is expected to continue in an advisory role until March 31, 2022, to ensure a smooth transition.
Jason Gardner, Marqeta’s founder and CEO, said that Milotich is an excellent fit for his firm:
“He has a keen appreciation for the possibilities in front of us as a company. We look forward to welcoming him to the Marqeta community. On behalf of our board, leadership team, and all Marqetans, I want to thank Tripp for his tireless dedication to Marqeta and the instrumental role he had in putting a corporate foundation in place that guided us through our IPO and two major private fundraising rounds. He will always be a friend, and we wish him all the best in his future endeavors.”
Milotich shared that he had a front-row seat to the rise of Marqeta while at Visa:
“… they’ve opened up globally with their modern card issuing platform. After spending time with Jason and the executive team, I was impressed by both how well they’d scaled to date and the massive opportunity in global money movement that lies ahead of them. I look forward to joining the team and helping to guide the next chapter of the company’s growth.”
Marqeta is a Fintech that is in the card issuance and management space. By leveraging technology, Marqueta provides an updated service for all types of firms to issue cards.
Accompanying the announcement of the new hire, Marqeta said it anticipated a stronger quarter than previous guidance indicating better top and bottom-line numbers. The company will release its actual results for the fourth quarter and full year of 2021 on March 9, 2022. Shares jumped on the reveal in after-hours trading.