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$9.2 billion fintech Navan appoints former NYSE executive as CFO ahead of planned IPO

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Navan has hired a former New York Stock Exchange executive as its new CFO, ahead of the travel and expense management platform’s planned $9.2 billion IPO.

Amy Butte, who was the NYSE’s chief financial officer between 2004 and 2006, will join Navan as its new chief financial officer in June. She was previously appointed to the company’s board of directors as chair of the audit committee in April.

Butte’s previous roles included stints as a banker, research analyst, board director and chief financial officer.

Founded by entrepreneur Ariel Cohen, Navan is a platform that helps employees of businesses large and small manage their expenses and travel bookings. It competes with SAP Concur, American Express, TravelPerk, Brex and Ramp.

Butte’s appointment comes at a pivotal time for Navan. The company is preparing its financial position for what will likely be a blockbuster IPO at an as yet undetermined time. Last month, Navan CEO Cohen told CNBC that the company was “not far away” from an IPO, adding that the company expects to reach profitability this year.

Navan was named a CNBC Disruptor 50 company in May.

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