Australia's Tyro Payments chairman to step down amid buyout reports

Nov 24 (Reuters) - Australia's Tyro Payments Ltd (TYR.AX) said on Thursday Chairman David Thodey has resigned and will be replaced by board member Fiona Pak-Poy from March.

The announcement comes against the backdrop of reports three of the top four Australian banks are eyeing the payments firm to compete with emerging buy-now-pay-later players and build new revenue streams as rising interest rates cools down the mortgage market.

In a separate update, Thodey said while the board would consider any "credible change of control proposal", it will only recommend the offer if it represents "compelling value" for shareholders.

Thodey joined Tyro's board in late 2018 and became the chairman about a year later.

Before that, Thodey was the chief executive of top Australian telecom firm Telstra Group Ltd (TLS.AX) between 2009 and 2015.

Pak-Poy will assume the position after the firm's half-yearly results at February-end, Tyro said.

Reporting by Sameer Manekar in Bengaluru; Editing by Sriraj Kalluvila

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