CAB Payments has parted company with its chief executive after a disastrous period since it floated in July last year.
Bhairav Trivedi will stand down on 26 March, when the forex firm's annual results are published, to be succeeded by Neeraj Kapur.
Kapur was most recently was chief financial officer at Vanquis Group, where he helped to guide the group through a period of financial troubles.
CAB has shed 70% of its value at the time of its IPO, most of which followed a profit warning just three months after it listed.
At the time, CAB, which specialises in developing countries' payments, blamed exposure to the flailing Nigerian naira, the West African CFA franc and the Central African CFA franc as headwinds.
Ann Cairns, chair, thanked Trevedi for his contribution and said she was confident CAB would continue to flourish and grow under Kapur's leadership.
In its statement, CAB Payments said it continues to expect total income for 2023 to be approximately 25% above the prior year.
Shares were unchanged at 102p.