Story
Adyen Shares Decline After Naming Klarna's Niclas Neglen as New CFO
Summary
The Dutch payments firm appointed a new chief financial officer from rival Klarna and announced a strategic partnership with fintech Flatpay, prompting a more than 2% drop in its share price.
Shares in Adyen (ADYEN) fell more than 2% in early trading Wednesday after the Dutch payments giant announced it had appointed Niclas Neglen, the current chief financial officer of Klarna, to the same role.
New CFO Named from Klarna
Adyen has named Niclas Neglen as its new CFO, filling a key executive position that has been vacant since Ethan Tandowsky's departure in May. Neglen is scheduled to join the company on February 1, 2027, according to the announcement. His appointment is subject to approval from the Dutch central bank and will be proposed at an extraordinary general meeting.
Neglen brings extensive experience from the financial sector. Prior to his role at fintech competitor Klarna, he was the CFO and COO for Europe, the Middle East, and Africa at HSBC Private Bank. He also spent 13 years in senior finance positions at General Electric.
Strategic Partnership with Flatpay
AdSeparately, Adyen revealed a strategic partnership with Danish fintech company Flatpay. Under the agreement, Adyen will serve as the core financial infrastructure partner to support Flatpay's expansion across Europe.
Flatpay, which provides payment solutions to over 100,000 small and medium-sized businesses, will continue to manage its direct merchant relationships. The partnership will leverage Adyen's acquiring capabilities and global architecture to help Flatpay scale. It will also allow Flatpay to integrate Adyen’s embedded finance suite, including products such as:
- Instant settlement
- Cash advances
- Business accounts
- Card issuing
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