Paymentus board seat rotates as Accel-KKR installs a new director
In the payments technology sector, private equity sponsors frequently cycle board representatives as portfolio companies move through post-IPO governance stages. Paymentus Holdings (NYSE: PAY), the billing and payments platform…
Key takeaways
- Paymentus Holdings disclosed on July 23, 2026, that Accel-KKR replaced its board nominee, Adam Malinowski, with Gregory Williams.
- Malinowski resigned effective July 23, 2026, in a departure explicitly unrelated to any disagreement with the company.
- Williams was elected the same day as a Class II director with a term running to Paymentus's 2029 Annual Meeting and meets NYSE independence requirements.
- Williams is a Managing Director at Accel-KKR who has worked there since July 2009 and brings seventeen years of private board experience within the AKKR portfolio.
- As with other AKKR-nominated directors, Williams will receive no cash retainer or equity awards, will not join any board committee, and is covered by the standard indemnification agreement.
In the payments technology sector, private equity sponsors frequently cycle board representatives as portfolio companies move through post-IPO governance stages. Paymentus Holdings (NYSE: PAY), the billing and payments platform based in Addison, Texas, disclosed on July 23, 2026, that Accel-KKR has done precisely that: swapping one nominated director for another with no reported rift between the parties.
The change at the board table
Adam Malinowski, who held the Accel-KKR-nominated seat, notified the board on July 22, 2026, of his resignation effective the following day. The filing is explicit that his departure was unrelated to any disagreement with the company over its operations, policies, or practices.
Gregory Williams steps into the vacancy. The board, acting on the recommendation of its Nominating and Corporate Governance Committee, elected Williams the same day his predecessor's resignation took effect. He joins as a Class II director, a term that runs to the company's 2029 Annual Meeting of Stockholders. The board determined he meets NYSE independence requirements.
Who Williams is and how he got there
Williams is a Managing Director at Accel-KKR, where he has worked since July 2009. A technology-focused private equity firm, AKKR secured nomination rights at Paymentus under a Stockholders Agreement signed in May 2021, at the time of the company's formation as a public entity. Those rights are tied to specific ownership thresholds. Williams holds an MBA from the Darden School at the University of Virginia and an AB in History from Harvard College. He currently serves on the boards of several AKKR private portfolio companies.
Consistent with how the company treats other AKKR-nominated directors, Williams will not receive cash retainer fees or equity awards for his board service. He will not join any board committee. The company's standard Director and Officer Indemnification Agreement will cover his tenure.
The governance read-through
Against the backdrop of a fintech market where PE exits remain episodic and measured, the continuity of AKKR's seat at Paymentus is the signal worth noting. The firm is refreshing its representation, not retreating from it. Paymentus is led by Chairman, President, and CEO Dushyant Sharma, whose own interests are represented under the same 2021 Stockholders Agreement alongside AKKR's, giving the company dual sponsor influence at the board level. Williams arrives with seventeen years of private board experience accumulated inside the AKKR portfolio.
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