SINGAPORE - Chief executive officer of the Network for Electronic Transfers (Nets) Jeffrey Goh will step down from his post, the Singapore payments network firm announced on Thursday (Nov 14).

His departure takes effect on Nov 22, 2019.

Nets' board of directors has named Ricky Lim, managing director of Nets subsidiary, Nets Solutions, as the interim group CEO.

The payments network firm said it has begun an executive search for a successor from both the internal Nets organisation as well as the external sector.

Nets said Mr Goh, who has been the CEO for eight years, will be pursuing other opportunities outside the company.

Chairman of the Nets board Ching Wei Hong said the firm looks to "turn bold ideas into meaningful innovation in the payment space" in the coming years, with Mr Lim holding the fort during this "transition period".