Good morning A AI-operated urban infrastructure can be on the horizon.
“The future is one in which transactions will take place automatically, from which AI are operated, and that is the future for which we build,” said Lookman Olusanya, the new CFO of Metropolis.
Metropolis is a AI company that enables payment-free payment experiences. Olusanya, which will join the company on June 30th, recently served as CFO of Square, a company of block. Previously, he held financial leadership roles on Google Cloud and Amazon Web Services (AWS).
According to reports, Metropolis is currently collecting donations in an evaluation that is approaching $ 5 billion. The company has optimized “Drive -In, Drive Out” parking spaces by automating vehicle detection and payments with computer vision and AI. It is not necessary to pull a ticket, scan a code or wait in a machine in the line.
Metropolis’ platform now serves over 50 million customers, processes the annual transaction volume of 5 billion US dollars and adds 35,000 new members a day. However, the company’s AI skills grow beyond parking solutions.
“The opportunity to architect the financial basis of a company that redefines how people access the physical world and interact with mobility was simply impossible to survive,” said Olusanya.
He also came to Metropolis because he believes in his team and his founders. “There is ambition and courage to create a completely new category and I wanted to help build that,” he said. “To be honest, I haven’t excited myself about a company since my early days to build Amazon web services.”
With the kind permission of metropolis
The metropolis based in Los Angeles, which was founded in 2017 by CEO Alex Israel, Peter Fisher, Courtney Fukuda, and Travis Kell, who previously worked as a CFO, acquired SP Plus for around $ 1.5 billion last year. The deal was financed with 1.8 billion US dollars, which are led by Eldridge and 3L, which SP plus occupied privately and made metropolis the greatest parcotes in North America.
Olusanya describes Metropolis as building something visionary at the interface of infrastructure, real estate, payments and AI. The aim is to bring seamless, contrary transactions to retail, hospitality, refueling and security to life. In January, the Oosto (formerly Anyvision) company acquired $ 125 million. Oosto develops facial recognition and biometric technologies that are used in industries such as healthcare, retail and games.
In the past two decades, Olusanya has distributed strongly growing companies in cloud infrastructure, payments and SaaS, led the financial and strategy at Square, Google Cloud and AWS. He started his career at American Airlines.
This journey, he said, taught him how to build on the scale, drive discipline forward, assign capital, contain fragmented systems and translate metrics into the company value.
“At Metropolis, I expect that I will bring the same operational strict and the willingness in the investors with the hiring of a construction company,” he said. When he enters the CFO role, Olusanya has three priorities: listening and learning; Expansion of the company’s financial systems with AI automation and precision analysis; And build the next chapter for metropolis.
This includes the creation of a local AI finance organization that is quick, integrated into the company and has AI in the core. “This is my vision,” he said.
Olusanya is based in Seattle. If it is not strategic as a CFO, you will find it outdoors outdoors or kayaking.
Have a nice weekend. See you on Monday.
Sheryl Estrada
sheryl.estrada@fortune.com
Ranking
Fortune 500 -Power movements
Chris Lialios was appointed preliminary CFO by Ulta Beauty, Inc. ((No. 375), immediately effective. The company left Paula Oyibo, who entered the company in 2019 and has been working as a CFO since April 2024. Ulta Beauty has started an external search for a constant successor with the support of a search company for managers. The company confirmed it Fiscal 2025 instructionsissued on May 29, for per share profit from $ 22.65 to $ 23.20 and sales with comparable charging of flat up to 1.5%. Lialios has been a SVP and controller since 2018 and joined the assistant controller in 1999.
Every Friday morning the Weekly Fortune 500 Power Moves Columns Fortune 500 company C-Suite layers–See the latest edition.
More remarkable steps this week:
Craig Albright was appointed EVP and CFO by Wiley (NYSE: WLY), Effective on June 26th. Albright follows Wiley with over 30 years of the world’s leadership experience. He was recently CFO from Americas and Global Cash Center Lead at Xerox. Before that, it served as CFO of Commercial Excellence at Xerox.
Deborah Andrews was appointed CFO by Staar Operation Company (Nasdaq: Staa), has been working as a StaAR CFO since June 25th since March as between CFO and previously as a Staar CFO from 2007-2013 and 2017-2020.
Joe Falcão was appointed CFO by Bose ProfessionalAn independent developer of audio systems for business and institutional environments. Falcão brings international financial leadership into the role for more than 20 years. Falcão previously provided financial management for global brands such as Dunkin and Cabot Corporation and managed teams.
In Lovcik has resigned from as an SVP and CFO Trex Company, Inc. (Nyse: Trex), a manufacturer of wood-alternative decking and railings. Lovcik accepted a position in Minnesota near her family. It will continue to serve as CFO by August 5. At this point, the CFO responsibility of Bryan Fairbanks is temporarily accepted. Previously, from August 2015 to CEO in April 2020 he worked as a CFO of Trex.
Jason Wilson was promoted to the CFO of Ahold Delhaize USAA food trading group with brands like Food Lion, The Giant Company, Giant Food, Hannaford and Stop & Shop. Before this role, Wilson served as SVP of Finance for Food Lion. Wilson began his career in 2000 with the predecessor -Support brands by Ahold Delhaize USA and acted as director of business development, VP for strategy and VP for financial and business planning.
Michael Zambito was appointed CFO by Acacia Research Corporation (Nasdaq: actg), will act on June 24th on June 24th. Kirsten Hoover, the current preliminary CFO from ACACIA, will continue to act as a controller. Before Zambito came to Acacia, he spent the past 30 years at Ernst & Young. Most recently, he spent over 23 years, including the last 17 as partners, in Ernst & Young’s Ey-Partenon.
Big deal
The use of AI at work accelerates according to research. In the past two years, the percentage of the US employees who indicate that they have used AI in their role a few times a year or more have almost doubled from 21% to 40%. A new Gallup report Finds. The common AI use (a few times a week or longer) has also almost doubled since Gallup’s first measure in 2023 to 19%. Daily use has doubled from 4% to 8% in the past 12 months alone.
Go deeper
Here are four Assets Weekend reads:
–Assets‘S Special digital problem: AI at workis a collection of Fortune -Aiq stories, which deals with how companies use in finances, law, agriculture, manufacturing and more AI.
–“The IPO market is booming – and more large lists such as Klarna and Stubhub could come this autumn” by Luisa Beltran
–“Openai CEO says that his children will never be smarter than AI – and that his parent style depends on chatt.” By Ani Freedman
Oversighted
“Guided tour in 2025 and beyond that suitable people – who provide feelings and ethics – with technology that improves the speed, reach and uniformity of processes.”
– Mark Minevich, President of Going Global Ventures and Strategic Partner at Mayfield Venture Capital, writes in A new Assets Commentary“How to lead when machines can do everything (except human).”
