David Puth Steps Down as CEO of CLS
After six years leading CLS, David Puth is relinquishing his role as CEO.
David Puth, CEO of CLS, is stepping down after leading the settlement, processing and data solutions provider since 2012.
Puth’s resignation becomes official Sept. 30, after which chairman Kenneth Harvey will act as interim CEO, with Puth remaining on hand through November to ensure a smooth transition.
Puth led CLS through a number of transitions, including its designation as a systemically important financial market utility, the release of several new products and services for the foreign exchange market, a rebranding, and investments in its technology infrastructure.
“Our overall financial position is strong, which enables CLS to continue to grow while investing in the resilience of its infrastructure. I have every confidence in CLS’s board of directors and am pleased to hand over the management of CLS to the next generation of leaders,” says Puth, in a statement.
CLS has hired an executive search firm and is evaluating candidates for the CEO role. While Harvey is acting as interim CEO, the company’s independent director Bryan Osmar and director Rick Sears will assume the responsibilities of chairmen of the board of CLS Group Holdings and CLS Bank International.
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