TripStax CEO Jack Ramsey is to step down in November after plans about the future of the tech company changed.
A sale and carve-out of the TripStax business had been explored following the acquisition of its parent, ATPI group, by Direct Travel.
A statement said that although offers from investors had been received, Direct Travel has concluded that the strategic value of TripStax was “too important to relinquish the business” and has therefore decided to retain ownership of it.
Instead, TripStax’s technology will be brought more closely into Direct Travel’s wider technology organisation “forming part of the broader technology ecosystem supporting Direct Travel and ATPI’s corporate offering”, which includes Spotnana and Avenir.
In response to further questions from The Business Travel Magazine, TripStax said there will be some impact on roles as a consequence of this strategic change, but the timing and specific details are yet to be determined.
David Chappell, Chief Product Officer, is currently the key staff and customer contact and Ramsey will step down as CEO under an agreed transition arrangement with his tenure ending in November. In the meantime, Ramsey and TripStax Chief Marketing Officer Nikki Banks will be assisting Direct Travel on a number of topics.
Ramsey has led the company since its launch in 2022 and was previously an Investment Officer for ATPI and before that Director Global Sales for Travelport Hotelzon. He was voted People Manager of the Year in the 2024 Business Travel People Awards and was also a regular columnist for The Business Travel Magazine.
TripStax said it was too early to say what will happen to its name or brand, adding: “TripStax has built enviably strong brand recognition in the market over the last five years, so it is yet to be determined how it will be positioned going forwards.”
TripStax’s modular technology will be brought more closely into Direct Travel’s overall technology proposition.
“TripStax will continue to play an important role in supporting Direct Travel’s technology strategy and the services they provide to customers across Direct Travel and ATPI, as well as Spotnana. TripStax’s technology will also play an important role in supporting Direct Travel’s corporate business over the coming years as Avenir continues to expand globally,” said TripStax.
“Our priority is our existing customer base, including the ATPI/Direct Travel customers who rely on TripStax today. We intend to continue supporting TripStax’s existing third-party customers while ensuring the confidentiality, security, and service they expect. We recognise that every client relationship is different and the team is working closely with customers on an individual basis to support an orderly and well-managed transition.
“We are now developing the detailed technology, product, customer and organisational roadmap for this next phase. This work will progress over the coming weeks and months, and we will keep our people informed as plans develop and decisions are made.”
The technology and product roadmap is being led by Chappell.
