‘What’s Top Of Mind?’ with Penny Hughes
Reshaping Form3 to achieve profitability
This has been a busy quarter for Form3, as the business has reshaped to reduce cash burn, as we focus on the safe scale up of our world-class cloud-based payments platform.
As part of this reshaping, as we prepare for the next stage of business growth, we needed to optimise our efficiency and make cost reductions to the business.
This has been hard, but important work. This has enabled us to think about the right structure for the business, and we’ve stayed focused on achieving profitability.
We’ve focused on all the things that we’ve learned from running the most successful account-to-account payments platform across the UK and Europe. This will enable us to scale up successfully.
In terms of you, our customers, this reshaping of Form3 will not affect the way that we continue to deliver secure market-leading payment technology.
During this period of change, support from shareholders has been appreciated. Thank you for your support.
In the meantime, I wish you success in navigating your business through these challenging times.
Written by
Penny is a very experienced business leader. After a 10-year executive career with Coca-Cola, Penny has enjoyed a busy Non-Executive portfolio, working on more than 20 Boards covering consumer brands, mobile and media tech, banking, leisure and property. Brands include: The Body Shop, The Gap & Morrison’s Supermarkets, Aston Martin Lagonda; Vodafone, Trinity Mirror & Reuters, Skandinaviska Enkilda Banken & Royal Bank of Scotland; The Gym Group; iQ Student Accommodation & Riverstone retirement living.
Alongside her business career, Penny enjoys family life and various not-for-profit responsibilities that have included Trustee, British Museum and President, Advertising Association.