Kasey Kaplan appointed CEO and Managing Director of Beforepay Group (ASX: B4P)
Beforepay Group Limited (ASX: B4P) has announced that its Board has appointed Deputy CEO Kasey Kaplan as the next CEO and Managing Director. Current CEO Jamie Twiss will step down from the role on 7 December 2026, after more than five years leading the company.
The appointment follows a succession process overseen by the Board, which considered both internal and external candidates with the support of an external search adviser. Promoting the Deputy CEO points to continuity at the top of the Group.
Brian Hartzer, Chairman of Beforepay Group
“Kasey is ideally suited by background, skills, and temperament to lead the Group into the future, and I’m delighted that he’ll be stepping into the CEO role…”
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Who is Kasey Kaplan?
Kaplan brings experience building and scaling businesses across fintech, payments, technology and insurance in both the United States and Australia. His background spans entrepreneurship, product leadership and commercial execution.
Since joining Beforepay Group in September 2021, he has been instrumental in scaling its core consumer lending business, driving product innovation, commercial growth and strategic partnerships, and helping establish the Group as a profitable, ASX-listed fintech. He has also played a key role in developing Carrington Labs, the Group’s AI-powered credit analytics business.
His listed credentials include:
- Non-Executive Director of Stakk Limited (ASX: SKK)
- Executive MBA, Quantic School of Business and Technology
- Master’s degree, Oakland University
- Bachelor’s degree in Economics and Management and Communications, Albion College
Kasey Kaplan, incoming CEO and Managing Director
“I’m excited to be stepping into the CEO role, and looking forward to leading Beforepay Group as we deliver our strategy and head into the next phase of growth…”
Jamie Twiss, outgoing CEO
“It’s been a privilege to lead Beforepay Group over the last five years, from our early days as a private company through the IPO, the march to profitability, the launch of our Personal Loan product, and the formation of Carrington Labs…”
Understanding CEO succession and why it matters to investors
A change of chief executive can shift a company’s strategy, culture and execution. For shareholders, the way a handover is managed is often as relevant as who is chosen.
An internal appointment can reduce execution risk, because the incoming executive already knows the business. Twiss will continue to support Kaplan through a transition period and then on an advisory basis.
The announcement also summarises the key terms of Kaplan’s employment agreement for the purposes of ASX Listing Rule 3.16.4, which gives shareholders visibility of how the new CEO will be paid. Incentive structures tied to performance hurdles and equity are designed to link management rewards to outcomes for shareholders.
Inside Kaplan’s employment terms
Appendix A to the announcement sets out the material terms of the CEO employment agreement.
| Component | Terms |
|---|---|
| Role | CEO and Managing Director, effective **7 December 2026**, ongoing with no fixed term |
| Total fixed remuneration | **$600,000** per annum (inclusive of statutory superannuation) |
| Short-Term Variable Incentive (STVI) | **$300,000** at target (**50%** of fixed remuneration) and **$600,000** at maximum (**100%**), inclusive of superannuation, subject to the achievement of performance hurdles and other terms |
| Long-Term Variable Incentive (LTVI) | Annual grants of equity rights with a target value of **$500,000** per annum (vesting over three years), subject to vesting conditions, plan terms and any required shareholder approvals |
| Notice | Six months’ written notice by either party (or payment in lieu of notice at the Company’s election) |
| Post-employment restraint | Post-employment non-compete and non-solicitation restraints of up to six months |
Growth Milestone Incentive Plan
Kaplan is eligible to participate in a six-year Growth Milestone Incentive Plan (GMIP). Under it, one-off compensation payments, up to a cumulative maximum of $10 million (inclusive of superannuation), may be earned.
Payments are subject to change of control, or the Company achieving and sustaining stretching market capitalisation milestones between $250 million and $1 billion, and other plan terms. A large share of potential pay is therefore linked to shareholder value creation.
What happens next for Beforepay Group
Two steps follow from the announcement:
- Twiss steps down as CEO on 7 December 2026, and Kaplan’s appointment as CEO and Managing Director takes effect the same day.
- Twiss continues to support Kaplan through a transition period and then on an advisory basis.
Kaplan will lead a Group with two arms. Beforepay offers consumers small pay advances as well as personal loans, while Carrington Labs enables banks, credit unions and fintechs to elevate their lending performance through deep credit risk insights.
Kaplan inherits a business with a stronger funding base, following Beforepay’s recent $100 million credit facility with Balmain, which replaced a $55 million arrangement and cut borrowing costs by roughly 3-4 percentage points.
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