March 1st, 2024

Payments Canada names interim co-CEOs as current head to step down

By The Canadian Press on February 7, 2024.

Payments Canada says it has named two interim co-CEOs after chief executive Tracey Black decided not to renew her term. The Bay Street Financial District is shown with the Canadian flag in Toronto on Friday, August 5, 2022.THE CANADIAN PRESS/Nathan Denette

OTTAWA – Payments Canada says it has named two interim co-CEOs after chief executive Tracey Black decided not to renew her term.

The organization that runs Canada’s payments system says Black, who joined in 2018, will complete her term at the end of March.

Payments Canada says that until a permanent successor is named, the board of directors has appointed Kristina Logue, chief financial officer, and Jude Pinto, chief delivery officer, as interim co-CEOs as of April 1.

During Black’s term, Payments Canada rolled out a new high-value payments system called Lynx.

The organization has also been working to bring a modernized, faster payments system, but its rollout has seen multiple delays.

The real-time rail payment system was originally slated to be in place in 2019, but there is no current delivery date after Payments Canada announced an indefinite delay in mid-2023.

This report by The Canadian Press was first published Feb. 7, 2024.

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