TripStax CEO Jack Ramsey to step down next month
TripStax CEO Jack Ramsey will leave that role in November as the company's technology will be brought “more closely” into Direct Travel's technology ecosystem.
In a statement provided to BTN Europe, the company said a sale of TripStax had been under consideration following Direct Travel's acquisition of its parent company ATPI, which originally developed TripStax before spinning it off into a standalone company in 2022.
Instead, Direct Travel is retaining ownership and "will form part of the broader technology ecosystem supporting Direct Travel and ATPI’s corporate offering,” according to the statement.
TripStax offers several modules supported by a centralised data processing core to travel management companies and other corporate travel technology providers. The company said it will continue “supporting existing third-party customers”, but acknowledged the shift represents “a change in TripStax’s future commercial focus”.
“We are now developing the detailed technology, product, customer and organisational roadmap for this next phase,” the company said. This work is currently being led by TripStax chief product officer David Chappell and will progress “over the coming weeks and months”.
“We will keep our people informed as plans develop and decisions are made,” the company said, adding that there would be “some impact” on staffing.
Ramsey has led TripStax since its spin-off from ATPI, and he previously was director of sales at Hotelzon, which Travelport later sold to TripStax in 2022.