Payment processor SafeCharge has restored business development director Tim Mickley to the chief financial officer role with immediate effect after incumbent Ali Khwaja announced his departure from the position.

Khwaja is to leave SafeCharge in the new year, remaining with the company until then to ensure a smooth transition, to return to a career in finance in the City of London.

He has worked for SafeCharge since February this year, joining as executive vice president of card issuing, before becoming chief executive of card services, then moving into the group CFO role in April.

Tim Mickley, the company's former CFO and currently business development director, will take over the role with immediate effect.

SafeCharge also announced that Yuval Ziv, chief operating officer and managing director of SafeCharge Bulgaria, will join the supplier’s board as group chief operating officer from January 1st 2016.

Ziv joined SafeChargein 2007 and is described as having been pivotal in its global expansion and development of the group’s client relations, technology and acquiring operations.

“I and the rest of the board look forward to Yuval joining the board,” SafeCharge chairman Roger Withers said. “He brings with him a wealth of knowledge and experience of the payments industry and the SafeCharge group.

“We would also like to thank Ali for his contribution to the company and wish him the best in his return to a career in the City. We are grateful to Tim for stepping back into his former role.”

Shares in SafeCharge International Group Limited (Co.Data) (AIM:SCH) are trading up 1.45 per cent at 245.00 pence per share in London this morning.