We have known Amman Boughan for many years - one of the most charismatic and impressive CFOs in the private equity space, with a consistent track record of value creation and growth.

Amman was recently promoted from CFO to CEO at Pagabo, the LDC-backed procurement and technology business that connects public sector organisations with pre-qualified suppliers through innovative frameworks and digital platforms. His appointment marks an exciting new chapter for both him and the business.

His career journey tells a compelling story of progression, agility, and leadership: from his ACA training contract in corporate finance at BDO in Leeds, to roles at Park Place Corporate Finance, Sky Betting & Gaming, and CNG Ltd, before holding CFO positions at Lights4fun, Answer Digital, and Preventx. Alongside his executive roles, Amman serves as a Non-Executive Director at BFY Group in Nottingham and is a Trustee at York St John University.

We caught up with Amman to hear about his transition from finance to the CEO seat, the lessons learned along the way, and his perspective on leadership in the modern PE-backed business environment.

You have recently stepped up from CFO to CEO at Pagabo — a big milestone in any career. Tell us about that transition and how it came about.

Good CFOs are uniquely placed to make great CEOs, especially in private equity-backed businesses. They have long been the natural number two in an organisation because they sit right in the middle of the three key strategies - value creation, growth, and risk. They are closest to the data, and they see how every decision, every investment, and every operational challenge connects back to the bigger picture.

For me, the CFO role has always been about more than finance. It is about where to invest, how to grow, and what bets you are making at any one time. That means working closely with teams across the business - digital, commercial, operations - to make sure those bets are being executed and delivering.

Because of that vantage point, the transition to CEO felt like a natural evolution rather than a leap. You already have visibility across the business, understand the levers of performance, and can connect strategy, people, and data to make things happen.

It also suited me personally because I had never gone down the financial controller route. The early years of my career were spent in strategy and consulting, which gave me a foundation rooted in value creation, shareholder strategy, and commercial decision-making. That broader experience made the evolution to CEO feel like the right and natural next step.

Tell us about Pagabo

Pagabo Group partners with public and private sector asset owners who want to maximise the impact of their capital investments. We connect clients with trusted supply chain partners through innovative frameworks and digital platforms that enable faster delivery, better governance, and stronger social outcomes.

In simple terms, our mission is to use technology, data, and our partner network to transform investment in the built environment into positive outcomes for people, places, and the planet.

Backed by LDC, we have a strong investment history and exciting plans for future growth - particularly in expanding our digital capabilities and deepening our impact across the sector.

You have built your reputation in private equity-backed businesses. What do you think makes a great CFO or CEO in that environment?

Success in a private equity-backed business is all about agility, trust, and focus. You have to balance the management team’s operational priorities with the investors’ strategic goals and you sit right in the middle of those two worlds.

The key is building trust on both sides. Investors don’t always live in the operational detail, and management teams don’t always see things through a value creation lens. A good CFO - and CEO - can translate between the two, simplify complex ideas, and help both parties reach clear decisions.

I have always thought of the CFO as the navigator on the bridge. The CEO might be steering the ship, but the CFO has the forward view - spotting opportunities and risks, guiding course corrections, and ensuring the whole team is aligned on the destination. That mindset of looking forward, not just reporting back, is essential in private equity.

You have led impressive growth stories in several businesses. What are the vital elements of value creation for modern businesses?

Value creation today goes far beyond financial performance. The numbers are simply the aggregation of every decision, action, and initiative across the organisation. Real value comes from aligning everything behind a clear purpose and direction.

For me, that means connecting strategy, technology, people, and customers in a joined-up way. At Pagabo, for example, we’ve worked hard to align our go-to-market strategy, product development, and technology investment behind a single vision - becoming category leaders in our space.

We use a framework called VMOST - Vision, Mission, Objectives, Strategy, and Tactics - to make sure everything links together. It keeps everyone focused on what really drives progress. I call it the golden thread - making sure every team and every investment decision traces back to the same core purpose.

You also give your time as a Non-Executive Director at  BFY Group and as a Trustee at York St John University. How do these roles  complement your day-to-day leadership and perspective?

I take on these roles because I genuinely want to add value, but I also learn a great deal from them. Each organisation operates in a completely different environment - the university world, for example, moves at a very different pace to private equity and that contrast broadens my thinking.

At York St John, I’m involved in governance and strategy from a more societal and purpose-driven perspective, which is grounding and refreshing. At BFY Group, it’s more about growth and scaling, which mirrors many of the same challenges I’ve seen in PE-backed businesses.

Both experiences sharpen my ability to influence rather than control. As a Non-Exec, you can’t just roll up your sleeves and fix a problem - you have to guide, challenge, and support from the sidelines. That has definitely made me a better leader in my executive role.

If you could go back to your ACA trainee self, what advice would you give him?

I would say take every opportunity - not necessarily every job move, but every opportunity to learn, to build your network, and to develop new skills. The early stages of your career are about curiosity and growth, not just progression. The more you expose yourself to different challenges, people, and experiences, the stronger your foundations will be later on.

Early in your career, people often focus on climbing the ladder quickly, but what really matters is building depth - depth of experience, of judgement, and of reputation for getting things done.

Be the person others turn to when something needs solving - that is how you grow. See every project as a chance to learn a new skill, build resilience, and strengthen your relationships.

Don’t chase titles too early. The best careers are built on layers of experience, not leaps of promotion. Each challenge you take on adds to your “muscle memory” - that ability to handle bigger and more complex problems later in your career.

And remember: technical skills matter, but curiosity, emotional intelligence, and the ability to build trust will take you further than anything else.

Tell us about Amman out of work

Outside of work, I have four young children, so family life is a huge part of who I am. It gives me balance and perspective. I’m also a big sports enthusiast - I love the camaraderie, the competition, and the lessons you take from it about teamwork and resilience.

Both family and sport keep me grounded. They remind me that leadership isn’t just about performance and results - it’s about people, purpose, and enjoying the journey along the way.

Interview Overview

This interview sums up both Amman’s  leadership philosophy and the grounded approach that has defined his journey from CFO to CEO - sticking to simple principles but doing them exceptionally well, exploring other horizons for inspiration, and placing real importance on relationships. Those qualities, combined with a clear sense of purpose, make Amman’s story one that will resonate strongly across the modern finance and leadership community, and be an inspiration for those at the early years of their careers.