Crane NXT has named Michael Mahan as the new President of Crane Payment Innovations (CPI), effective July 8, 2024. This strategic move underlines CPI’s commitment to leveraging Mahan’s seasoned leadership to propel the company into its next phase of growth and innovation.
Michael Mahan’s Strategic Leadership:
Bringing extensive experience from Schneider Electric and GE Appliances, Michael Mahan assumes leadership at CPI with a robust background in driving transformative initiatives. His tenure at Schneider Electric’s Secure Power Division and leadership of GE Appliances’ Monogram brand team exemplify his strategic acumen in launching successful new products and enhancing market presence.
Vision for CPI’s Future:
Aaron W. Saak, President and CEO of Crane NXT, expressed confidence in Mahan’s ability to steer CPI towards sustained success. Highlighting Mahan’s proven track record in new product introductions, Saak anticipates leveraging these strengths to unlock new value across CPI’s global operations. Mahan echoed this sentiment, emphasizing collaboration with CPI’s Leadership Team to foster a culture of entrepreneurship and innovation, essential for capitalizing on emerging market opportunities.
Transition and Acknowledgment:
Michael Mahan will succeed Kurt Gallo, who has served as SVP and interim President of CPI. Gallo’s upcoming retirement in February 2025 marks the end of a distinguished tenure where he played a pivotal role in CPI’s growth trajectory, notably through strategic acquisitions like MEI and Crane Currency. In the interim, Gallo will support Mahan during the transition period, ensuring continuity in ongoing projects and initiatives.
Strategic Partnerships and Expansion Initiatives:
CPI’s recent partnership with Mohegan’s Inspire in South Korea exemplifies the company’s proactive approach to expanding its market presence. Such collaborations underscore CPI’s commitment to exploring new business opportunities and enhancing its global footprint.
With Michael Mahan’s appointment, CPI looks set to capitalize on its strong foundation and embrace future opportunities with renewed vigor. His leadership promises to steer CPI towards achieving new milestones in innovation, market expansion, and operational excellence.