Ekta Singh-Bushell
About Ekta Singh-Bushell
Ekta Singh-Bushell (age 53) has served as an independent director of Lesaka Technologies, Inc. since 2018; she is a CPA with advanced international certifications in governance, sustainability, information systems security, audit, and control, and previously held leadership roles at Ernst & Young (including Global CISO) and served as Deputy to the First Vice President/COO Executive Office at the Federal Reserve Bank of New York (2016–2017) . At Lesaka, she is independent under Nasdaq rules, serves as Audit Committee Chair, and is a member of the Nominating & Corporate Governance Committee and the Social & Ethics Committee; the Board held six meetings in FY2025 and directors attended at least 75% of Board and committee meetings .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Federal Reserve Bank of New York | Deputy to First Vice President; COO Executive Office | 2016–2017 | Senior operational leadership |
| Ernst & Young (EY) | Global IT Effectiveness Leader; US Innovation & Digital Strategy Leader; Global CISO | Not disclosed | Technology, cybersecurity, audit oversight |
| Dragos Inc. | Director; Audit Committee Chair; COO | Formerly | Cybersecurity oversight; operational role |
| Datatec Limited (JSE: DTC) | Lead Independent Director | Formerly | Governance leadership |
| Cisco (NASDAQ: CSCO) | Director (past) | Formerly | Technology governance (past service) |
| TTEC Holdings Inc. (NASDAQ: TTEC) | Director (past) | Formerly | Customer experience sector oversight (past service) |
| Designer Brands Inc. (NYSE: DBI) | Director (past) | Formerly | Retail governance (past service) |
External Roles
| Company | Exchange/Ticker | Role | Committee Assignments |
|---|---|---|---|
| Huron Consulting Group | NASDAQ: HURN | Director | Chair, Compensation; Member: Nominating & Governance, Finance & Capital Allocation, Technology |
| ChargePoint, Inc. | NYSE: CHPT | Director | Member, Audit Committee |
| Women’s Health Access Matters (non-profit) | — | Board Member | Advocacy in women’s health research |
Nominating & Governance at Lesaka reviewed her external commitments and concluded they would not interfere with Lesaka duties and bring relevant expertise to the Board .
Board Governance
- Independence: Lesaka’s Board determined six of eleven directors are independent under Nasdaq Rule 5605(a)(2), including Ms. Singh-Bushell .
- Committee leadership: Audit Committee Chair; Member, Nominating & Corporate Governance; Member, Social & Ethics .
- Audit Committee financial expertise: The Board determined all Audit Committee members, including Ms. Singh-Bushell, are “audit committee financial experts” per SEC rules .
- Engagement: Board met six times in FY2025; Audit Committee met 10 times; Nominating & Governance met 4 times; Social & Ethics met 3 times; all directors attended at least 75% of their meetings .
- Audit Committee report: She signed the FY2025 Audit Committee Report as Chair, affirming oversight of financial reporting and auditor independence (KPMG) .
| Committee | Role | FY2025 Meetings |
|---|---|---|
| Audit | Chair | 10 |
| Nominating & Corporate Governance | Member | 4 |
| Social & Ethics | Member | 3 |
Fixed Compensation
| Fiscal Year | Fees Earned/Paid in Cash (USD) | Stock Awards (USD) | Options (USD) | Other (USD) | Total (USD) |
|---|---|---|---|---|---|
| 2025 | $192,500 | — | — | — | $192,500 |
- Structure: Directors receive a base fee plus additional compensation for committee service and chair roles; benchmarking versus U.S./UK/South African peers conducted in FY2024 .
Performance Compensation
- Equity grants to non-employee directors: None disclosed for FY2025 for Ms. Singh-Bushell (no RSUs/options reported) .
- Performance metrics tied to director pay: Not disclosed/applicable for directors (executive incentive metrics are detailed separately in the proxy) .
Other Directorships & Interlocks
| External Board | Potential Interlock/Conflict | Notes |
|---|---|---|
| Huron Consulting Group (Comp Chair) | None disclosed with Lesaka | N&G Committee assessed commitments; deemed beneficial and non-interfering |
| ChargePoint (Audit Committee) | None disclosed with Lesaka | Distinct industry; no related-party ties disclosed |
| Past boards: Cisco, TTEC, Designer Brands, Datatec | None disclosed | No related-party transactions with Lesaka disclosed |
- Remuneration Committee interlocks: Lesaka disclosed no remuneration committee interlocks or insider participation; Ms. Singh-Bushell is not on Remuneration Committee .
Expertise & Qualifications
- CPA with advanced certifications in governance, sustainability, information systems security, audit, and control .
- Deep technology and cybersecurity background (Global CISO at EY; roles at Cisco; Dragos) .
- Financial reporting and audit oversight (Audit Chair; SEC “financial expert”) .
- Public company governance across multiple sectors/geographies; FRBNY operational leadership .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % |
|---|---|---|
| Ekta Singh-Bushell | 7,000 | <1% |
- Director stock ownership guidelines: Lesaka does not require non-employee directors to own company shares; executive officers have guidelines (Chair: 4x salary; other execs: 2x) .
- Hedging/pledging policy: Company prohibits hedging and pledging by officers/directors; limited exceptions for pledging require pre-approval and demonstrable capacity to repay without resorting to pledged securities .
- Section 16(a) compliance: Company reported full compliance for FY2025 except late filings by Mr. Smith and Mr. Mali; no delinquencies reported for Ms. Singh-Bushell .
Governance Assessment
- Strengths: Independent director; Audit Committee Chair and SEC-defined financial expert; active multi-committee engagement; robust audit oversight documented in the FY2025 Audit Report . External board experience in technology and cybersecurity adds relevant risk and controls expertise to Lesaka’s fintech profile .
- Alignment signals: She beneficially owns 7,000 shares, but Lesaka does not impose director ownership requirements; director pay is all-cash in FY2025 (no equity), which may limit long-term alignment versus equity-linked retainer structures commonly used by U.S. issuers . Company-wide anti-hedging/pledging policy supports alignment and risk control .
- Overboarding/commitments: Lesaka’s N&G Committee reviewed her external commitments (Huron, ChargePoint, non-profit) and concluded they do not interfere and provide beneficial expertise, mitigating overboarding concerns disclosed by the company .
- Conflicts/related party: No related-party transactions or familial relationships disclosed involving Ms. Singh-Bushell; Audit Committee oversees related-party review .
- Attendance/engagement: Board met six times; all directors met at least the 75% attendance threshold; Audit/Nominating/Social committees were active, indicating substantive oversight cadence; individual attendance percentages are not disclosed .
RED FLAGS: Absence of director stock ownership guideline and all-cash director compensation may reduce perceived “skin-in-the-game” versus equity retainer norms, particularly for an Audit Chair; beneficial ownership is small (<1%) . No specific red flags on conflicts, related-party transactions, hedging/pledging violations, or Section 16(a) compliance for Ms. Singh-Bushell were disclosed .