The company has promoted Joanne Dewar to vice chair, and Kevin Schultz has been appointed as CEO.
Dewar will maintain her position on the GPS board, where she will focus on the group's growth and global profile, and continue to work alongside chair Gene Lockhart in a newly created office of the chair.
Dewar had been CEO at GPS for over four years and was instrumental in scaling the company and securing investment.
Schultz brings a wealth of executive leadership experience in the payments and digital banking industry to his new role as CEO, where he will primarily focus on strategy and execution.
"We are hugely grateful for the great work that Joanne has done at GPS," Lockhart says.
"Under Joanne's stewardship, the company has gone from strength to strength and successfully transitioned through a major new investment round, the building of a new management team and a significant transformation.
"In her new role as vice chair, she will continue to play a pivotal role in GPS' future.
"With Kevin on board, our leadership team now has a unique and powerful blend of industry, market and leadership experience which will help us to accelerate the company's growth," Lockhart adds.
"I am extremely proud of what has been achieved so far and I am very excited about my new role, which should enable me to help expand the business footprint through raising the profile and building the global network," Dewar says.
"I am also delighted to welcome Kevin, whose impressive track record and experience will be a huge asset to the GPS business and our customers.
"Together with Gene, I am convinced that we have a winning combination which will accelerate the ability of GPS to reach its true potential," Dewar adds.
"It has been a transformational period for the company, and I could not be more excited to lead the company through the next phase of its development," Schultz says.
"With the experience of our leadership team and support of our investors, I am convinced that GPS will continue to deliver market leading technology and provide our customers with ever more innovative payments solutions."