Ex-PayPal CFO Gabrielle Rabinovitch joined Worldpay recently as their CFO. She has a long experience working in the finance industry and has worked with many fintech companies. Rabinovitch’s decision to join Worldpay reflects her confidence in the company’s prospects and potential growth.
Her tenure and experience at PayPal have undoubtedly prepared her for this challenge. Worldpay is a leading merchant payments provider. Her previous experience has equipped her with the expertise and insight to manage operations effectively in an organization like Worldpay. Now that Rabinovitch is leading Worldpay’s financial division, investors and stakeholders can rest assured that they have a capable and experienced leader to lead the company successfully.
Key Takeaways
- Gabrielle Rabinovitch’s Transition from PayPal to Worldpay: Moving from being an acting CFO at PayPal to the same position at Worldpay was a bold step for Gabrielle Rabinovitch, reflecting her confidence in its future and growth. With her experience as a finance executive in fintech, it will be critical for WorldPay to rely on her skills, which are expected to enable its success and profitability.
- Worldpay’s Shift to Independence: Worldpay’s recent shift to independence, under GTCR with a 55 percent majority stake, represents a significant strategic change for the payment processor. Charles Drucker has returned as CEO to bring greater value, innovation, and customer service through increased investment in technology and solutions.
- Rabinovitch’s Financial Expertise and Leadership: Her appointment as CFO is timely, given that Worldpay is seeking stability after a turbulent period. She has also held top finance positions at PayPal during tough times; hence, she is better positioned to lead WorldPay through current difficulties.
- Rabinovitch’s Role in Worldpay’s Transformation: The purchase of companies within various verticals and geographies pursued by Wordplay aligns with Rabinovitch’s well-established reputation in handling financial process management that fosters expansion. As such, if the company opts for growth and transformation strategies, then it can utilize its financial expertise, thereby exploiting any opportunities that may arise while treading through the ever-shifting landscape of the payment processing industry.
Ex-PayPal CFO Gabrielle Rabinovitch Becomes The New CFO Of WorldPay
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Worldpay, a leading payment processor, recently hired Gabrielle Rabinovitch, a seasoned finance executive with PayPal experience. Her impressive background and financial management expertise will prove invaluable as Worldpay seeks stability and growth following a tumultuous history. With a strong track record and ability to navigate complex finances, Rabinovitch is equipped to steer Worldpay toward stability and growth. Her appointment signals a commitment to prioritize sound finances and prudent decisions.
Recently, GTCR took over Worldpay with a 55% majority ownership from FIS, which now has a 45% share. Worldpay plans to innovate more and enhance its services for clients as an independent company. Worldpay is poised to continue thriving in financial services through expansion and better services to clients. Charles Drucker has returned as CEO to help the company grow further.
With most of its operations managed by the private equity firm GTCR, the recently reconstituted Worldpay will rely on Rabinovitch’s financial experience. This comes after a tumultuous five years for the provider of merchant payments.
Rabinovitch was frequently appointed to temporarily hold the CFO role at PayPal as the company sought a permanent finance leader. This indicates that Rabinovitch has expertise and competence in handling finances in high-stress scenarios, such as Worldpay encounters. Given her history at PayPal, it seems likely that she can lead Worldpay past its current difficulties and into a prosperous future under the new ownership.
In 2022, Gabrielle Scheibe Rabinovitch took on the role of interim finance chief at PayPal after the departure of then-CFO John Rainey, who joined Walmart. She resumed the acting CFO position when Rainey’s successor, Blake Jorgensen, took a medical leave of absence a month into her role as PayPal’s financial leader. At that time, PayPal announced the appointment of senior executive Gabrielle Rabinovitch as interim CFO and initiated a formal search for Rainey’s replacement.
Rabinovitch continued to fulfill the acting CFO responsibilities when Jorgensen left the company in March 2023. She held this position until PayPal appointed Jamie Miller, formerly associated with agricultural company Cargill, as the CFO, effective from November 2023.
Rabinovitch joined the San Jose, California-based company during a period when it grappled to sustain its growth rates following the surge in online consumer spending triggered by the onset of the COVID-19 pandemic in 2020. Her departure from PayPal coincided with the company’s ongoing efforts to reduce costs. In her initial earnings call as CFO, Miller outlined the company’s plans to restructure its cost framework, aiming for more profitable growth. Automation and enhanced productivity were emphasized as crucial elements of this strategy. These actions came after PayPal announced a 9% reduction in its workforce.
Rabinovitch’s appointment comes at an important moment. With plans to pursue acquisitions across verticals and geographies, Worldpay is poised to enhance client service and capitalize on opportunities. Her extensive financial experience and proven growth record make her ideal to lead Worldpay through this transformation. Her expertise will guide the company toward greater success as Worldpay continues to evolve and expand.
About WorldPay
Worldpay provides innovative payment solutions for omni-commerce merchants. Offerings include debit and credit card processing, cloud-based payments, mail and phone payments, card machines, and POS payments. By consolidating capabilities across channels and platforms, they assist businesses in improving customer experience and efficiency.
With a presence in Europe, the UK, Asia, and the US, WorldPay handles more than 40 billion transactions spanning 146 countries and 135 currencies. Their mission is to assist customers in enhancing efficiency and security and achieving greater success. A pioneer in technologies like online payments, contactless transactions, and multi-currency processing, they now offer data analytics and optimization tools to help clients boost conversion rates. Their product portfolio comprises Payment Gateway services and POS machines, with foreign currency support, making them a trusted partner for businesses seeking cutting-edge payment solutions.
About Gabrielle Rabinovitch
Gabrielle Rabinovitch has over two decades of esteemed financial expertise as CFO at Worldpay. With a distinguished cross-sector career spanning payments, financial services, and retail, her impressive track record speaks volumes.
She previously held key leadership roles as the interim CFO, Senior Vice President of Corporate Finance, and Investor Relations at PayPal. Before that, she played a crucial role in Williams-Sonoma, Morgan Stanley, and AlixPartners. Armed with an MBA and JD from UCLA, her educational background compliments her professional experience. Rabinovitch relentlessly pursues excellence, driving financial success as a standout industry figure.
Conclusion
In her transition from PayPal to Worldpay, Gabrielle Rabinovitch brings seasoned finance expertise, underlining her confidence in Worldpay’s growth potential. As the new CFO, her track record at PayPal positions her as a capable leader in organizing financial processes for a top payment processor. Investors and stakeholders can trust her talent to guide Worldpay toward sustained success.
Rabinovitch’s appointment aligns with Worldpay’s commitment to sound finances during its independence under GTCR’s oversight. Poised for acquisitions and expansion, Worldpay looks to her extensive financial experience to navigate challenges and steer the company toward greater success soon.
