Travelex CEO on the company's post-pandemic takeover and why cash is king | Boardroom Uncovered

Travelex, the world's largest foreign currency exchange, is expecting to have new owners within the next two years, its chief executive has revealed. Richard Wazacz said the Peterborough-headquartered company will change ownership having been takeover by its debt holders in 2020 when the business collapsed into administration. Travelex, which has operations across the world and also runs currency exchange services for Asda and Tesco in the UK, was first hit by an accountancy scandal and a cyber attack in the lead up to the Covid-19 pandemic. It then was forced to make a wave of redundancies in May 2020 as it failed to sell itself before appointing PwC to oversee its period in administration. The business emerged with new owners while it decided to pull out of the US and France. Wazacz was then hired as its new chief executive in April 2022 to continue Travelex's turnaround. Read the full interview 👇 https://www.cityam.com/travelex-to-be-put-up-for-sale-after-post-pandemic-rebirth/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam