Posera Announces the Appointment of Akash Sahai to its Board of Directors
TORONTO, March 29, 2019 /CNW/ – Posera Ltd. (TSX: PAY) (“Posera” or the “Company”), a global provider of hospitality software and payment solutions, is pleased to announce the appointment of Mr. Akash Sahai to its Board of Directors.
“We are thrilled to have Akash join the Board,” exclaimed Tom McCole, Chairman of Posera’s Board of Directors. “Akash has helped build the business and set the company’s strategic direction over the last few years and it will be great to add his insights and leadership on the Board.”
Mr. Sahai began his career as a lawyer before embarking on an international corporate career in consumer services, with successive leadership roles at several multi-national corporations such as United Airlines, The Loyalty Group, Capital One Bank, Fingerhut Direct Marketing, and Aimia Inc. At the Loyalty Group, Mr. Sahai, managed the reward program for Air Miles, Canada’s largest loyalty program. As the initial Chief Marketing Officer for Capital One Canada, Mr. Sahai helped build a $2B portfolio. At Aimia Inc. Mr. Sahai led international business development for the world’s largest loyalty management company, and the acquisition of a $100M analytics company. Mr. Sahai also sits on several boards including serving as Chairman of the Board for Enchanting Travels (a global bespoke luxury travel agency), from its founding to the recent sale of Enchanting to one of the world’s largest travel companies. Mr. Sahai has a law degree from the University of Toronto and an MBA from INSEAD in France.
Mr. Sahai joined the Posera team as an advisor in September 2016 to help Posera with its strategy for SecureTablePay and now serves as Executive Vice President of Strategy and Business Development. After developing the strategy and then re-designing the product for the US market for Posera’s SecureTablePay business, Mr. Sahai led the launch of SecureTablePay in the US and leads the SecureTablePay business overall, increasing revenue for the business line almost 300% over two years. Mr. Sahai also leads strategy and corporate development for Posera overall, having led the financial raise of $5.1M along with the successful divestiture of the FingerPrints business in 2017.
Today the Company is also announcing the resignation of Mr. Paul Fornazzari from the Board of Directors. “I would like to take this opportunity to thank Paul for his contribution to Posera over the past ten years,” stated Dan Poirier, CEO and Director of Posera. “Paul has been a valuable member of Posera’s Board of Directors and we wish him success in his future endeavours.”
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the business operations, kitchen management, and payment transaction.
Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 28th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.
Chief Financial Officer,