Crane NXT has announced the appointment of Michael Mahan as President of its payments arm, Crane Payment Innovations (CPI).
Effective 8 July 2024, Mahan will be responsible for driving the CPI growth strategy, accelerating innovation and leveraging the Crane Business System to drive continuous improvement and operational excellence to deliver solutions that meet customers’ needs now and into the future, the company said. Mahan will report directly to Crane NXT’s President and CEO Aaron W. Saak.
“Michael brings a wealth of experience to this role, having driven innovation and R&D portfolios to accelerate growth within large multinational organizations and leaders in the industrial technology market, including Schneider Electric and GE,” said Saak.
“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 added, “I am thrilled to be joining Crane NXT. 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.”
According to details provided by Crane NXT, Mahan previously led the multi-billion dollar global Transactional & Edge Line of Business of the Secure Power Division of Schneider Electric, focused on home and business power resiliency and data center systems. He has also held roles of increasing responsibility at GE Appliances and GE Energy, including leading the Monogram brand team at GE Appliances, and managing GE’s EV Infrastructure and Low Voltage Equipment businesses at GE Industrial Solutions, it said.
