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Supplier Crane NXT has appointed Michael Mahan as the new President of its payment solutions business Crane Payment Innovations (CPI), effective from 8 July 2024. Mahan will report directly to Aaron W. Saak, President and CEO of Crane NXT.
Mahan has previously led the Transactional & Edge Line of Business of the Secure Power Division under Schneider Electric, as well as the Monogram brand team at GE Appliances, and managed the EV Infrastructure and Low Voltage Equipment businesses at GE Industrial Solutions prior to his role in Schneider Electric.
Saak said: “Michael’s leadership and proven track record of successful new product introductions will help him succeed in the role and enable CPI to unlock value in new and existing markets.”
Mahan said: “There is tremendous potential across the entire business, and I am looking forward to partnering with the CPI Leadership Team to build upon the Company’s strong foundation of driving business excellence and incredible spirit of entrepreneurship and innovation.”
Mahan will replace SVP and interim President of CPI, Kurt Gallo upon the VP’s retirement in February 2025. In the meantime, Gallo will help onboard Mahan to his current role, and continue to assist in leading several projects.
Saak has appreciated Gallo’s contribution to the company, especially in the acquisitions of MEI and Crane Currency.
CPI recently partnered with Mohegan’s Inspire, a casino hotel in South Korea.
