Remitly Global, Inc. (NASDAQ:RELY) announced a leadership transition in its accounting department, according to a press release statement based on a recent SEC filing.
On Tuesday, Luke Tavis, the company’s Chief Accounting Officer, provided notice of his retirement from that role, effective March 31, 2026. Tavis will remain with Remitly as Vice President, Accounting, until June 2026 to assist with the transition. The company stated that Tavis’s retirement was not due to any disagreement related to Remitly’s financial reporting, accounting policies, procedures, estimates, or judgments.
On Monday, Remitly’s Board of Directors approved the appointment of Tai-Hong Fung as the new Chief Accounting Officer, effective April 1, 2026, following Tavis’s retirement. Fung will report to the company’s Chief Financial Officer in his new position.
Fung, 52, joined Remitly as Vice President, Controller, in February 2026. Prior to joining Remitly, he held several roles at Starbucks Corporation, including Vice President, Controller, from April 2023 to January 2026, Director, Assistant Controller, from May 2019 to April 2023, and Director of Global Consolidations and Financial Reporting from April 2014 to April 2019. Fung also worked in various positions at Microsoft Corporation between 2006 and 2014.
According to the company, Fung’s compensation is not expected to change in connection with his new appointment. There are no arrangements or understandings with Fung regarding his appointment as Chief Accounting Officer, and he is not related to any executive officer or director of Remitly. The company also stated that Fung does not have any direct or indirect material interest in any transaction requiring disclosure under SEC regulations.
Remitly Global, Inc. is listed on the NASDAQ Global Select Market under the ticker RELY.
In other recent news, Remitly Global Inc. reported fourth-quarter revenue of $442 million, surpassing analysts’ expectations of $428 million. The company’s adjusted EBITDA also exceeded projections, reaching $89 million compared to the anticipated $52 million. Following these results, Cantor Fitzgerald raised its price target for Remitly to $20 from $17 and maintained an Overweight rating, while Citizens increased its target to $22, citing improved margins and revised guidance. Remitly’s first-quarter fiscal 2026 guidance projects revenues between $436 million and $438 million, with adjusted EBITDA expected to be between $82 million and $84 million. Additionally, the company announced a leadership change, appointing Amazon veteran Sebastian J. Gunningham as the new CEO, succeeding co-founder Matt Oppenheimer. Cantor Fitzgerald had previously initiated coverage of Remitly with an Overweight rating, emphasizing the company’s potential to capture more market share in the digital remittance sector. These developments reflect the company’s strong performance and strategic direction.
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