Tingo Group appoints interim co-CEOs and independent director

Montvale-based fintech Tingo Group on Monday appointed Dozy Mmobuosi and Kenneth Denos as interim co-CEOs, following the decision by Darren Mercer to retire to spend time with his family.

As the founder and visionary of both Tingo Foods plc and Tingo Mobile Ltd., which has become one of Africa’s leading agri-fintech companies over the past 23 years, Mmobuosi is uniquely positioned to lead the company, develop it further and provide continuity, while the company completes a global search for a permanent world-class CEO who has relevant expertise and experience.

Denos has served as a director of Tingo since its acquisition of Tingo Mobile in November 2022, and an executive of Tingo Mobile’s prior parent company, Agri Fintech Holdings (formerly known as Tingo Inc.) since August 2021. He also brings decades of experience with U.S. public companies and associated governance, reporting, communication and compliance requirements.

Also on Monday, the company announced it appointed Jamal “Jamie” Kurshid as an independent member of the board of directors. Kurshid brings more than 20 years of investment banking experience with several leading financial institutions, including Goldman Sachs, Credit Suisse and Jacobi Asset Management Holdings Ltd., together with executive experience in the technology, digital payments and the fintech sectors, most recently as chief operating officer and director of Caduceus Foundation, a blockchain technology company in Singapore.

Concurrent with the above three appointments, the Tingo Group’s longstanding deputy chairman, John Scott, will move into the role of chairman, and Sir David Trippier will expand his role as an independent member of the board of directors to assume the position of chair of the Audit Committee.

Darren Mercer, former CEO of Tingo Group, Inc. commented: “While I have known for quite some time that the day of my retirement as chief executive officer of the company would come since May 10, 2022, when I originally agreed to hand over the role to Dozy Mmobuosi as part of the Tingo Mobile acquisition, today is tinged with some melancholy, as well as pride, as I leave a position I have devoted myself to and worked tirelessly in over the past four years.”

Tingo Group recently launched its export business, which is experiencing significant growth, and which is expected to increase substantially in the fourth quarter.