Butn’s Co-CEO Transition: Rapoport Retires After Nearly a Decade
Butn Limited announces the planned retirement of Co-CEO Walter Rapoport, transitioning him to a Non-Executive Director role by September 2025, marking a significant leadership shift for the fintech.
- Walter Rapoport retires as Co-CEO after nearly a decade
- Transition to Non-Executive Director effective 30 September 2025
- Board waives continued employment vesting condition for 50% of recent options
- Rael Ross remains as sole CEO and Executive Director
- Rapoport credited with co-founding and guiding Butn through IPO and growth
Leadership Transition at Butn
Butn Limited (ASX, BTN), a prominent player in the Australian SME funding fintech space, has announced a key leadership change with the retirement of Co-CEO and co-founder Walter Rapoport. Effective 4 July 2025, Rapoport steps down from his executive role, transitioning to a Non-Executive Director position by the end of September. This planned move marks the end of an era for Butn, which he helped build from its inception in 2015.
A Decade of Growth and Innovation
Rapoport’s tenure as Co-CEO spanned nearly ten years, during which he played a pivotal role in shaping Butn’s identity and strategy. From the early days of securing clients to pioneering embedded finance solutions, his leadership coincided with the company’s IPO and its evolution into a fintech innovator funding over $2.5 billion in transactions. Chairman Cameron Petricevic praised Rapoport’s contributions, highlighting his integral role in the company’s maturity and innovation phases.
Transition Details and Board Dynamics
In a move designed to ensure a smooth handover, Rapoport will serve as an Executive Director until 30 September 2025 before fully assuming his Non-Executive Director duties. Notably, the Board has agreed to waive the continued employment condition for 50% of his recent option grants, though performance-based vesting remains intact. This gesture underscores the company’s appreciation for his long-term commitment and ongoing value at the board level.
Continuity Under CEO Rael Ross
Rael Ross will continue as the sole CEO and Executive Director, providing continuity in executive leadership. Ross reflected on the privilege of working alongside Rapoport, acknowledging his integrity and drive as foundational to Butn’s current standing. The company’s leadership appears poised to maintain its strategic course while adapting to this significant change.
Looking Ahead
While Rapoport’s departure from day-to-day operations closes a chapter, his ongoing board involvement suggests a steady hand guiding Butn’s future. Investors and market watchers will be keen to see how this leadership transition influences the company’s growth trajectory and strategic initiatives in the competitive fintech landscape.
Bottom Line?
Butn’s leadership shift signals both continuity and change as it navigates its next growth phase.
Questions in the middle?
- Who will fill the Co-CEO role vacated by Walter Rapoport?
- How will the transition impact Butn’s strategic initiatives and innovation pipeline?
- What market reaction will follow this leadership change in the near term?
