On April 6, 2026, Treasure Global Inc. announced that former CEO Sam Teo will return as Acting Chief Executive Officer, effective April 1, 2026. The announcement also confirmed that Carlson Thow will step down as CEO, effective March 31, 2026, and will remain on the board as Executive Director to focus on corporate governance and long‑term strategy.
The leadership change comes as Treasure Global accelerates its transition from a low‑margin e‑voucher business to a fintech‑focused platform. The company’s strategy centers on monetizing its digital ecosystem, with the ZCITY app and the OXI wallet positioned as key revenue drivers. The shift is intended to leverage higher‑margin fintech services and expand the company’s presence in digital commerce and emerging technology verticals.
Financially, Treasure Global reported Q1 2026 revenue of $182,527, a 37.7% decline year‑over‑year, and a net loss of $2.13 million. Gross margin for the quarter was 0.70%, a sharp contrast to the 71.6% margin recorded in FY 2025, underscoring the mix shift toward higher‑margin fintech offerings. The company has set a 2026 revenue target of $3 million and plans to launch the OXI wallet in the first half of 2026.
Management emphasized confidence in the transition. Carlson Thow said, "Sam Teo's return as Chief Executive Officer marks a significant milestone for Treasure Global. His vision and experience will further position the Company for accelerated growth and long‑term value creation." He added that Teo’s return underscores the Board's confidence in his ability to drive execution, reinforce operational discipline, and accelerate monetization and expansion across fintech, digital commerce, and emerging technology verticals.
Investors reacted positively to the announcement, reflecting confidence in Teo’s leadership and the company’s fintech strategy. The move is expected to influence investor sentiment as Treasure Global seeks to rebuild its business model and secure additional capital.
The appointment of Sam Teo as Acting CEO signals a pivotal moment for Treasure Global, marking a decisive step toward a higher‑margin fintech business model and setting the stage for future growth initiatives.
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