Payzone has replaced the senior executives ousted at an extraordinary general meeting following a bitter row at the electronic payment provider.
Mike Maloney has been appointed chief executive and given a place on the board, while group financial controller Nigel Bell has been named interim chief financial officer.
The pair replace John Nagle and John Williamson respectively, who have been at the centre of a legal dispute since January. The pair were relieved of their duties at last month's EGM despite taking legal action in the Republic of Ireland, where the company is based, initially claiming their dismissals in January were invalid and subsequently seeking damages relating to breach of contract and malicious falsehood.
Williamson ended his proceedings against the company following the EGM, though Nagle is continuing his action.
Meanwhile, Payzone chairman Bob Thain has brought forward his
retirement and has left the company with immediate effect. Non-executive deputy chairman Peter Smyth has become interim chairman and has been tasked with finding a new chairman.
A statement issued by Payzone said that following the EGM and the appointment of a new CEO, Thain felt the time was right to step down. He had been a central figure in the row with Nagle and Williamson.
Shares in Payzone have been suspended as a result of the court proceedings and will remain so until the company makes a full trading update.
Maloney, who joins from British Telecom Ireland, where he had been chief operations officer since 2004, said: "My first priority will be to provide shareholders with a trading update on the company."
The update is expected to be in a matter of weeks, not months.