Paul Althasen
EURONET WORLDWIDEAbout Paul S. Althasen
Independent Class III Director of Euronet Worldwide (EEFT); age 60; director since May 2003 with term expiring in 2027. Background includes co-founding and leading e-pay (acquired by Euronet in 2003), prior financial trading at Chemical Bank in London, and entrepreneurial leadership in UK telecom retail; holds a B.A. (Honors) in Business Studies from City of London Business School. The Board has determined he is an independent director under Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| e-pay Limited (UK) | Co-founder; CEO/Co-Managing Director; strategic direction | 1999–Apr 2012 | Led growth of prepaid payments; business acquired by Euronet |
| Euronet Worldwide | EVP (joined via e-pay acquisition) | Feb 2003–Apr 2, 2012 | Senior operating leadership post-acquisition |
| MPC Mobile Phone Center (UK) | Co-founder and MD (franchised cellular retail) | 1989–1999 | Built UK mobile retail footprint |
| Chemical Bank (London) | Trader (financial securities) | Prior to 1989 | Capital markets experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Lodwick Homes Ltd. | Director | Current | Private company directorship |
| Pier Insurance Managed Services Ltd. | Director; joint responsibility for strategy and management | Since 2008 | UK insurance services; ongoing governance role |
| Evolve Telecom Ltd. | Director | 2008–2016 | B2B telecom services (prior directorship) |
Board Governance
- Committees: Chair, Nominating & Corporate Governance; Member, Compensation; not on Audit .
- Committee activity in 2024: Audit (4), Compensation (4), Nominating & Corporate Governance (3); Board met 4 times .
- Attendance: Each director attended at least 75% of Board and applicable committee meetings in 2024 .
- Independence: Board determined all non-employee directors (including Althasen) are independent under Nasdaq standards .
- Lead Independent Director: Thomas A. McDonnell appointed February 2025, oversees executive sessions and agendas per guidelines .
- Board refreshment: Two new directors added in last 12 months; two long-tenured directors not seeking re-election at May 2025; average tenure reduction ~33% over three years; committee-level engagement on refreshment that falls within Althasen’s chair remit .
Fixed Compensation
| Year | Cash Retainer | Chair/Role Fees | Stock Award (Grant-Date Value) | Total |
|---|---|---|---|---|
| 2024 | $100,000 | $15,000 (Nominating & Corporate Governance Chair) | $160,000 (immediately vesting; $115.27/share at May 16, 2024 annual meeting) | $275,000 |
- Director pay structure: Non-management directors receive $260,000 annually ($100,000 cash; $160,000 stock); additional role fees for leadership positions; directors may elect to take fees in stock .
- Meeting fees: Not disclosed; compensation is annual retainer plus chair/lead fees and stock grant .
Performance Compensation
- Directors do not have performance-based cash bonuses or PSU metrics; annual director stock awards vest immediately upon grant (no performance conditions) .
- Vesting terms for director stock awards: Immediate on grant date (May 16, 2024) .
| Performance Metric | Target | Outcome | Note |
|---|---|---|---|
| None disclosed for directors | N/A | N/A | Director equity not tied to TSR/financial metrics |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed |
| Private company boards | Lodwick Homes Ltd. (current); Pier Insurance Managed Services Ltd. (since 2008) |
| Prior boards | Evolve Telecom Ltd. (2008–2016) |
| Interlocks with EEFT Compensation Committee | No interlocks or insider participation disclosed; committee members (including Althasen) had no Item 404 relationships and were not officers/employees in last three years |
Expertise & Qualifications
- Prepaid payments and fintech distribution expertise in Western Europe/UK; considered valuable to the Board’s strategic oversight of payments .
- Entrepreneurial and operational leadership across telecom and payments; capital markets experience from Chemical Bank London .
- Governance: As Nominating & Corporate Governance Chair, oversees board succession, diversity policy (charter includes inclusion of underrepresented individuals in searches, “Romney rule”), and governance guidelines .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Paul S. Althasen | 56,807 | <1% | As of March 17, 2025; percent marked “*” (<1%) |
| Ownership Guideline | 5× cash portion of annual retainer | Status: 58× cash retainer | Exceeds guideline; measured at 12/31/2024 stock price |
- Hedging/Pledging: Company prohibits hedging and pledging by directors and designated insiders; limited exceptions to pledging require approval (no director-specific pledging by Althasen disclosed) .
- Ownership alignment: Exceeds required multiple, indicating strong alignment with shareholders .
Governance Assessment
- Committee leadership: As Chair of Nominating & Corporate Governance, Althasen is central to board refreshment, diversity pipeline, and governance guidelines—positive for board effectiveness and succession oversight .
- Independence and attendance: Independent status and minimum attendance threshold achieved; supports investor confidence in oversight quality .
- Compensation alignment: Director pay has meaningful equity component with immediate vesting; no performance pay, but strong personal share ownership against guidelines mitigates misalignment risk .
- Conflicts/related-party exposure: No Item 404 related-party transactions disclosed for Althasen; company’s only disclosed related-party arrangement is CEO aircraft lease reviewed/ratified by Audit Committee (not involving Althasen) .
- RED FLAGS: None disclosed specific to Althasen (no Section 16 delinquency; no pledging; no related party transactions; no interlocks). Section 16 late filings were noted for other directors (Sprong, Herrero) and gifts by CEO, not for Althasen .
Overall, Althasen’s long tenure combined with current leadership of the Nominating & Corporate Governance Committee, independence, and ownership guideline compliance signals constructive governance influence; lack of disclosed conflicts or attendance issues reduces governance risk .