Sergi Herrero
EURONET WORLDWIDEAbout Sergi Herrero
Independent Class I Director at Euronet Worldwide (EEFT), serving since June 4, 2024, with payments and commerce leadership experience from Meta and current fintech board roles. Age 43; education includes master’s degrees in Management from the University of California, “Berkley,” and Ramon Llull University, and a BS in Electrical Engineering from Ramon Llull University . The Board values his payments and technology industry expertise and board experience in European fintech, seeing him as supportive of strategy and future opportunities . He is nominated for a three-year term at the May 14, 2025 annual meeting and is deemed independent under Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Meta (Facebook) | Global Director of Payments and Commerce | 2016–2019 | Created a global partnership team to deploy and grow Meta’s payments and commerce platform . |
External Roles
| Organization | Type | Role | Tenure/Status | Notes |
|---|---|---|---|---|
| Intix | Private fintech (transaction data analytics for banks and securities houses) | Chairman of the Board | Current | Fintech data analytics focus; governance role as chair . |
| Ezra | Fintech (Middle East) | Director | Current | Board service at a Middle East fintech . |
Board Governance
- Classification and tenure: Class I Director; nominated for election at the May 14, 2025 meeting for a three-year term; Board majority vote standard .
- Independence: Board determined all non-employee directors (including Herrero) are independent under Nasdaq standards .
- Committees: Not currently listed as a member of Audit, Compensation, or Nominating & Corporate Governance committees .
- Attendance: Board held four regular meetings in 2024; each Director attended at least 75% of Board and applicable committee meetings during the period served .
- Lead Independent Director: Thomas A. McDonnell serves as Lead Director; responsibilities include executive sessions, liaison role, agenda approval, and shareholder consultation per guidelines .
- Ownership and conduct policies: Insider trading policy prohibits hedging and pledging by directors, with limited exceptions; board-level conflicts managed via recusal; the Company reports only the CEO had pledged shares as of 12/31/2024 .
Fixed Compensation
| Component | 2024 Amount | Terms | Grant Date / Price |
|---|---|---|---|
| Annual Cash Retainer | $100,000 | Paid at beginning of term; Directors may elect all fees in stock . | N/A |
| Annual Equity Grant (Common Stock) | $160,000 | Granted on date of annual meeting; vests immediately . | May 16, 2024 at $115.27/share |
| Total 2024 Director Compensation | $260,000 | No additional chair fees applicable (not a chair) . | N/A |
Performance Compensation
- No performance-conditioned director awards disclosed; stock grants vest immediately on grant .
- No options, PSUs, or performance metrics reported for directors’ compensation, and no separate meeting fees disclosed .
Other Directorships & Interlocks
| Company | Public/Private | Role | Committee Roles | Potential Interlocks/Conflicts |
|---|---|---|---|---|
| Intix | Private | Chairman of the Board | Not disclosed | Board states it reviewed directors’ affiliations and found no conflicts or impairments to independence; directors expected to recuse on transactions involving their affiliated organizations . |
| Ezra | Private | Director | Not disclosed | Same as above . |
- No other public company boards disclosed for Herrero .
Expertise & Qualifications
- Payments and commerce leadership from Meta; fintech governance experience as chair and director .
- Education: Master’s in Management (UC “Berkley”; Ramon Llull University) and BS in Electrical Engineering (Ramon Llull University) .
- Board considers his payments and technology background valuable for EEFT’s strategy and business opportunities .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficial Ownership (Shares) | 2,247 | As of record date March 17, 2025. |
| Shares Outstanding (Record Date) | 43,233,526 | Company-wide, used to determine percent ownership. |
| Director Stock Ownership Guidelines | 5x cash portion of annual retainer after five-year compliance period; new directors must retain 100% of vested shares net of tax until in compliance . | Applicable to non-executive directors; new directors in initial five-year period . |
| Herrero’s Current Ownership vs Guideline | 2x cash portion of annual retainer | In initial five-year compliance period . |
| Hedging/Pledging | Prohibited by policy for directors; limited exceptions possible; no director pledging disclosed beyond CEO context in NEOs . | Governance policy framework. |
Governance Assessment
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Strengths:
- Independent director with domain expertise in payments/commerce and fintech governance; Board explicitly cites his experience as supportive of strategy .
- Compliant attendance threshold (≥75%) in 2024; overall Board employs strong governance structures, annual performance reviews, and ESG oversight embedded across committees .
- Director compensation aligned with standard cash+stock mix; stock ownership guidelines enforce retention and long-term alignment for new directors .
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Concerns / RED FLAGS:
- Late Section 16(a) Form 4 filing in connection with grant of common stock as part of director compensation—signals process/control lapse though disclosed and corrected (also applied to another new director) .
- Not currently serving on key committees (Audit, Compensation, Nominating), which limits direct influence on core governance levers at this stage .
- Early-stage ownership alignment (2x retainer) relative to guideline target (5x) during initial compliance period—mitigated by required retention of 100% of vested shares net of tax until guideline met .
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Conflicts/Related Party Exposure:
- Board reviewed directors’ affiliations and found no conflicts or impairments to independence; recusal procedure expected for potential transactions involving affiliated entities (e.g., Intix/Ezra) .
- Compensation Committee interlocks/related-party disclosures indicate no relationships requiring Item 404 disclosure among committee members; Herrero is not on that committee .
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Compensation Structure Implications:
- Directors may elect to take all fees as stock, strengthening alignment; equity vests immediately, with retention obligations for new directors bolstering long-term exposure .
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Shareholder Signals:
- Board refresh in 2024–2025 reduced average tenure and added new independent directors, including Herrero; half of independent directors refreshed over three years—positive for board dynamism and oversight .
- Director elections utilize majority vote standard; Herrero nominated with Board recommendation to vote FOR .