Lehigh Valley billionaire Isaacman resigns from his position as CEO of Shift4.
Jared Isaacman, the billionaire from Lehigh Valley who started the payment processor Shift4, has resigned as Chief Executive Officer, the company revealed on Monday.
Isaacman will shift to the position of Executive Chairman of the Board, starting now.
Isaacman, a well-known entrepreneur and commercial astronaut recognized for financing and leading private SpaceX missions, grew Shift4 from a small startup into a top provider of integrated payment processing and technology solutions.
Under his guidance, the Allentown-based firm grew substantially, highlighted by the notable purchase of rival Finaro last year.
Shift4 appointed David Lau, the company’s President and an experienced technology leader with prior roles at Verifone and Sage, as the new CEO.
Lau has played a key role in Shift4’s product development and growth strategy over the past several years.
As Executive Chairman, Isaacman will stay actively engaged, concentrating on long-term strategies, essential partnerships, and innovation, whereas Lau will take charge of everyday operations and implementing the company’s vision.
