David Hunter has stepped down as Chief Executive Officer of Ukash after online payment processor Skrill Group completed its previously agreed acquisition of the online cash payments provider.
Skrill first struck a deal to acquire Ukash late last year as part of an effort to boost its paysafecard pre-paid payment service.
Skrill has now completed the deal and will now take ownership of the online cash payments provider.
As a result of the agreement, Hunter, who has served as chief executive officer of Ukash for the last five years, will step down from the role and will now take up a number of non-executive positions with a number of businesses.
David Sear, chief executive officer of Skrill, said: “This is an exciting acquisition that will considerably extend our reach in the high-growth prepayment market, enabling us to support consumers and online businesses alike with the world’s largest online cash replacement payment method.
“I’d like to thank David Hunter, who has been instrumental in the growth of Ukash, which will be integrated with paysafecard.
“As we move towards our combination with Optimal Payments, paysafecard will continue to be a key part of our strategy and of our offering to our customers.”
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