good morning. There could be an AI-powered urban infrastructure on the horizon.
“The future is where transactions are automatically made and driven by AI, and that's the future we're building,” Metropolis' new CFO, Lookman Orsanya told me.
Metropolis is an AI company that allows for payment experiences without checkout. Olusanya, who will join the company on June 30th, has recently served as CFO of Block's company Square. He previously held a financial leadership role at Google Cloud and Amazon Web Services (AWS).
According to reports, Metropolis is currently fundraising with an valuation that is approaching $5 billion. The company streamlined “drive-in, drive-out” ticketless parking by using computer vision and AI to automate vehicle recognition and payments. There's no need to draw tickets, scan codes, or wait in line on your machine.
Metropolis' platform currently serves more than 50 million customers, processes $5 billion in trading volumes per year, and adds 35,000 new members daily. However, the company's AI capabilities have expanded beyond parking solutions.
“The opportunity to start with mobility and build a financial foundation for a company that is redefining the way people access and interact with the physical world was impossible to pass on,” Orsanya said.
He also joined Metropolis. Because he believes in the team and founders. “I have the ambition and courage to create an entirely new category. I wanted to help build it,” he said. “Frankly, I haven't been so excited about the company since helping to build an Amazon web service.”
Courtesy of Metropolis
Los Angeles-based Metropolis was founded in 2017 by CEOs Alex Israel, Peter Fisher, Courtney Fukuda and Travis Kel. The deal was funded by $1.8 billion, led by Eldridge and 3L, making SP Plus Plus Prash private and Metropolis the largest parking provider in North America.
Olusanya explains that Metropolis will build visionary at the intersection of infrastructure, real estate, payments and AI. The goal is to deliver seamless, checkout-free transactions across retail, hospitality, fueling and security. In January, the company acquired Oosto (formerly Anyvision) for $125 million. OOSTO develops facial recognition and biometric technology used in industries such as healthcare, retail and gaming.
Over the past 20 years, Olusanya has expanded its high-growth business with cloud infrastructure, payments and SaaS, and has expanded its leading financial and strategy of Square, Google Cloud and AWS. He began his career at American Airlines.
The journey, he said, taught him how to build on a large scale, drive discipline, allocate capital, integrate fragmentation systems, and convert metrics into corporate value.
“At Metropolis, we hope that, in combination with the mindset of builders, we will be able to be rigorously involved in the same operation and the investors ready,” he said. Once he stepped into the role of CFO, Olusanya has three priorities: Grow your company's financial system with AI automation and precision analysis. Build the next chapter of Metropolis.
This includes creating agile, deeply integrated with the business, and native AI finance organizations with AI at its heart. “That's my vision,” he said.
Olusanya is based in Seattle. When he's not strategizing as CFO, you'll find him hiking and kayaking outdoors.
Have a great weekend. See you on Monday.
Cheryl Estrada
sheryl.estrada@fortune.com
Leaderboard
The power of the Fortune 500 moves
Chris Learios He has been appointed interim CFO Ulta Beauty, Inc. (No. 375), effective immediately. Paula Oyibo, who joined the company in 2019 and served as CFO since April 2024, has resigned from the company. With the support of an executive search company, Ulta Beauty has launched an external search for permanent successors. The company reaffirmed its 2025 guidance issued on May 29, with earnings per share ranging from $22.65 to $23.20, with equivalent stores increasing 1.5% from flat. Lialios served as SVP and Controller since 2018, and joined Ulta Beauty in 1999 as an assistant controller.
Every Friday morning, the weekly Fortune 500 Power Moves column tracks the Fortune 500 Company C-Suite Shifts– See the latest edition.
More notable moves this week:
Craig Albright He was appointed EVP and CFO for Wiley (NYSE: WLY), which came into effect on June 26th. Albright has joined Wiley with over 30 years of global leadership experience. He recently served as the American CFO and Global Cash Center Lead at Xerox. Before that, he was the CFO of Xerox's Commercial Excellence.
Deborah Andrews He was appointed CFO of Staar Surgical Company (NASDAQ:STAA), which came into effect on June 25th. Andrews has been interim CFO since March, and previously served as STAAR CFO from 2007 to 2013 and 2017 to 2020.
Joe Falkan He has been appointed CFO of Bose Professional, an independent developer of audio systems for business and institutional settings. Falkan brings more than 20 years of international financial leadership to this role. Previously, Falkan has provided financial leadership to global brands, including Dunkin and Cabot Corporation, as well as manager teams such as Invensys, Ibasis, Thrasio and Orva.
Brenda Robsik Trex Company, Inc. (NYSE:TREX) has resigned as SVP and CFO, manufacturer of wood replacement decks and handrails. Lovcik accepted her position in Minnesota, near her family. She continues to serve as CFO until August 5th, at which point the CFO's responsibility will be tentatively assumed by Brian Fairbanks. He previously served as Trex CFO from August 2015 until April 2020 when he was nominated for CEO.
Jason Wilson He has been promoted to CFO of Ahold Delhaize USA, a grocery retail group with brands such as Food Lion, The Giant Company, Giant Food, Hannaford, and Stop & Shop. Prior to this role, Wilson served as Financial SVP for Food Lion. Wilson began his career in 2000 with the predecessor support brand of Ahold Delhaize USA, serving as Director of Business Development, Vice President of Strategy and Vice President of Finance and Business Planning.
Michael Zambit He has been appointed CFO of Acacia Research Corporation (NASDAQ: ACTG). June 24th. Before joining Acacia, Zambito spent the past 30 years at Ernst & Young. Most recently, he spent more than 23 years at Ernst & Young's Epertenon, including his final 17 as a partner.
A big deal
Research shows that AI use in the workplace is accelerating. Over the past two years, the percentage of US employees saying they have used AI in more than a few times a year in roles has almost doubled from 21% to 40%. Since Gallup's first measure in 2023, frequent AI use (more than a few times a week) has also doubled from 11% to 19%. Over the past 12 months alone, daily use has doubled from 4% to 8%.
Go deep
There are four here luck Weekend Reading:
–luckSpecial Digital Issues: AI At Work is a collection of Fortune AIQ stories that detail how companies in finance, law, agriculture, manufacturing and other uses them.
– “After refusing to report a BP takeover, Shell is legally prohibited from making an offer for six months, and no other suitors are visible.”
– “The IPO market is booming. There is a possibility that a bigger list like Klarna and StubHub will come this fall.” Luisa Beltran
– “Openai CEO says his kids are “not smarter than AI.”
I've heard it
“Leadership from 2025 onwards needs to be tailored to the person who provides emotions and ethics.
– Mark Minevich, president of Going Global Ventures and strategic partner at Mayfield Venture Capital, writes in the new luck Explanation article, “How to lead when a machine can do everything (except being human).”
