Marqeta names Stripe, JPMorgan alum as CFO

Core Insights - Marqeta has appointed Patti Kangwankij as CFO, effective February 9, aiming to enhance profitability and drive growth amid competition in the commercial credit card space [8][7] - Kangwankij brings extensive experience from her previous roles at Roofstock, Stripe, and JPMorgan, which positions her as a valuable asset for Marqeta [3][4] Compensation Details - Kangwankij will receive an annual base salary of $475,000, with a target bonus opportunity of up to 75% of her base salary [5] - She is also eligible for a one-time discretionary sign-on bonus of $250,000, contingent on her employment duration [5] - Additionally, she will receive restricted stock units valued at nearly $6 million, vesting over three years, and performance stock units worth an estimated $2.5 million [6] Strategic Context - The appointment comes as Marqeta seeks to improve profitability and expand its platform, with interim CEO Mike Milotich emphasizing the importance of Kangwankij's financial leadership [8][7] - Analysts have noted that enhancing profitability and platform expansion are top priorities for the company [7]