— Jeff Ward, Lehigh Valley News Briefs
Shift4, a Lehigh County-based payment processing company, has named founder Jared Isaacman as executive chairman.
Isaacman resigned as chief executive officer of the company on Wednesday, according to an SEC filing. That post will be filled by President Taylor Lauber.
Lauber’s succession to CEO was planned earlier when Isaacman was nominated to run NASA by President Donald Trump. That nomination was pulled last weekend, leading, according to the Wall Street Journal, to a split between the president and billionaire Elon Musk.
Isaacman is a pilot and has been to space twice on SpaceX missions. Musk controls SpaceX, along with Tesla and other companies.
Isaacman, 42, founded what is now Shift4 in the basement of his family home in 1999, when he was 16. He is now a billionaire.
Shift4 (NYSE:FOUR) is based in Upper Saucon Township. Shares in the company were trading at $96.90 at 12:10 p.m. Thursday for a market capitalization of about $8.6 billion.
Lehigh Valley News Briefs 