Loomis Exec Aritz Larrea Named President, CEO

The Board of Directors for Swedish company Loomis has named Aritz Larrea as the company’s new president and CEO, set to take the seat as of Aug. 1 this year, the company announced Sunday (March 20).

Loomis works in cash handling. Since 2018, Larrea has been president of Loomis US and a member of group management. Until Larrea takes over, current President and CEO Patrik Andersson will continue in his role.

In a press release, Larrea said he’s “honored” to be chosen to lead the company.

“Thanks to our consistent strategy focused on growth, efficiency improvements and innovation, Loomis has transformed into a global company in the payments industry,” Larrea said. “I look forward to working with our customers, partners and employees worldwide to continue executing our strategy, thereby creating added value for all our stakeholders.”

Larrea is a Spanish citizen, holding an executive master’s degree in business administration from Instituto de Empresa in Spain. He also has experience in senior management positions, and was once country president for Loomis in Spain.

Prior to joining Loomis, he was CEO of Grupo Segur in Spain.

“Patrik Andersson has led the positioning of Loomis with a clear strategy for developing the core business but also moving up the value chain of cash management and new payment services,” said Chairman Alf Göransson. “Aritz Larrea has as President of Loomis US showed strong leadership and great insights of the industry’s challenges.

“With Aritz as the new President and CEO, we secure continuity in the company and a continued powerful implementation of the Loomis strategy.”

PYMNTS wrote that a new survey has shown that U.S. business owners are mostly optimistic about the way revenues might go this year. The survey found 56% of respondents think revenues will be up this year, an increase from the 45% who said so last year.

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