Beforepay hands CEO role to insider Kasey Kaplan for next growth phase

Deputy CEO takes over Beforepay leadership

Beforepay Group Limited (ASX:B4P) is handing its top job to an insider. Deputy CEO Kasey Kaplan will become CEO and Managing Director on 7 December 2026, replacing Jamie Twiss after more than five years at the helm.

The board said it considered internal and external candidates with the support of an external search adviser before appointing Kaplan. The transition is designed to preserve continuity: Kaplan joined Beforepay in September 2021 and has been involved in scaling its consumer lending business, product development, commercial growth and strategic partnerships.

Twiss leaves after IPO and profitability milestones

Twiss said his tenure covered Beforepay’s move from private company to ASX listing, the march to profitability, the launch of its Personal Loan product and the formation of Carrington Labs. He will support Kaplan through the handover and remain available in an advisory capacity afterwards.

Kaplan has also played a central role in developing Carrington Labs, the group’s AI-powered credit analytics operation. His background spans fintech, payments, technology and insurance across Australia and the United States, while he remains a non-executive director of Stakk Limited (ASX:SKK).

CEO package links pay to growth milestones

Kaplan’s fixed remuneration will be A$600,000 a year, inclusive of statutory superannuation. He will be eligible for a short-term incentive worth A$300,000 at target and A$600,000 at maximum, subject to performance hurdles and other plan terms.

The long-term package includes annual grants of equity rights with a target value of A$500,000, vesting over three years and subject to conditions and any required shareholder approvals. A separate six-year Growth Milestone Incentive Plan could deliver cumulative payments of up to A$10 million, but only if change-of-control conditions or specified market-capitalisation milestones between A$250 million and A$1 billion are met and sustained, alongside other requirements.

Execution becomes the immediate test

An internal appointment reduces the obvious handover risk, but it also gives Kaplan little room to distance himself from the strategy already under way. The board’s recent succession decision places the next phase of growth, including consumer lending, personal loans and Carrington Labs, squarely under an executive who has helped build those operations.

The practical test will be whether the leadership change is followed by sustained operating progress without a deterioration in credit performance or execution. The incentive structure makes that question more consequential: a sizeable portion of Kaplan’s potential remuneration depends on performance, equity vesting and ambitious market-capitalisation outcomes rather than fixed pay alone.