Eitan Raff to depart after 10 years of
service
Verifone (NYSE: PAY) a world leader in payment and commerce
solutions, announced today the appointment of Dr. Ronald Black and
Mr. Larry Klane to its Board of Directors. The two appointees will
become directors of Verifone effective immediately. Additionally,
the Company announced that Eitan Raff has resigned effective
yesterday, following a 10-year tenure as a member of Verifone’s
Board.
Ronald Black, Ph.D., has led Rambus Inc. as its Chief Executive
Officer, President and a member of the Board of Directors since
June 2012. Rambus is a creator and innovator of hardware, software
and services that drive technology advancements from the data
center to the mobile edge. Prior to joining Rambus, Dr. Black was
the Chief Executive Officer of MobiWire, formerly Sagem Wireless, a
privately-held mobile handset company headquartered near Paris,
France that offers products and services to original equipment
manufacturers and mobile network operators in the mobile phone
marketplace, and before that was Chairman and CEO of UPEK, Inc.
Dr. Black currently serves as a director of Energy Focus Inc., a
publicly-held LED lighting technology developer, Microfabrica Inc.,
a privately held high precision metal parts fabricator, and
FlexEnable Limited, a privately held producer of flexible
electronics manufacturing platforms. Dr. Black holds a B.S., M.S.,
and Ph.D. in materials science and engineering from Cornell
University.
Mr. Larry A. Klane is a Co-Founding Principal at Pivot
Investment Partners LLC, an investment firm founded in 2014 that is
exclusively focused on financial technology and financial services
companies. Prior to Pivot, Mr. Klane was the Global Financial
Institutions Leader at Cerberus Capital Management. In this
capacity, he worked to maximize the value of the firm’s financial
services activities, including new transactions as well as the
existing portfolio of companies. He served on the Board of
Directors of Aozora Bank, a publicly-traded bank in Japan in which
Cerberus held a controlling interest.
Mr. Klane joined Cerberus after serving as Chairman and CEO of
Korea Exchange Bank, a leading publicly-traded Korean commercial
and retail bank of approximately $100 billion of assets with an
international presence. He led the bank through the global
financial crisis to the landmark sale by the Bank’s major private
equity shareholder—the largest transaction in Korean banking
history. He served as CEO from April 2009 to February 2012 and as
Chairman from November 2010 to February 2012.
Prior to leading Korea Exchange Bank, Mr. Klane was President of
the Global Financial Services division of Capital One Financial
Corporation. He joined Capital One in 2000 to help lead Capital
One’s transformation to a diversified financial services business.
His responsibilities during his tenure at Capital One included a
broad range of consumer and business finance activities in the
United States, Europe and Canada. He also oversaw all merger and
acquisition activities. He served as President and Director of
Capital One Federal Savings Bank as well as Chairman of the Board
of Capital One Bank (Europe) Plc based in London, both subsidiaries
of Capital One Financial Corp.
Mr. Klane currently serves as a director of Nexi Group S.p.A, a
leading privately held company in Italian payments, as well as
Ethoca Limited, a privately held global network between issuers and
merchants. He is a graduate of Harvard College and the Stanford
Graduate School of Business.
“We welcome Dr. Ron Black and Larry Klane to the board and look
forward to the value their extensive experience in the areas of
mobility and financial technology will bring,” said Alex W. (Pete)
Hart, Verifone Chairman. “Additionally, we are grateful for the
service provided by Eitan as a member of the Verifone board for the
past decade, and I want to thank him for his contributions.”
“Ron and Larry are both accomplished executives that embody
Verifone’s values and bring with them a demonstrated track record
in product development and disruptive technological innovation,”
said Verifone CEO, Paul Galant.
About Verifone
Verifone is transforming every day transactions into new and
engaging opportunities for merchants and consumers at the last inch
of payments and commerce. Powered by a growing footprint of more
than 30 million devices in more than 150 countries, our people are
trusted experts working with the world’s best-known retail brands,
financial institutions, and payment providers. Verifone is
connecting more products to an integrated solutions platform to
better meet the evolving needs of our clients and partners. Built
on a 35-year history of uncompromised security, we are committed to
consistently solving the most complex payment challenges.
Verifone.com | (NYSE: PAY) | @Verifone
Additional Resources: http://ir.verifone.com
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations or beliefs and on currently available competitive,
financial and economic data and are subject to uncertainty and
changes in circumstances. Actual results may vary materially from
those expressed or implied by the forward-looking statements herein
due to changes in economic, business, competitive, technological,
and/or regulatory factors, and other risks and uncertainties
affecting the operation of the business of VeriFone Systems, Inc.,
including many factors beyond our control. These risks and
uncertainties include, but are not limited to, those associated
with: execution of our strategic plan and business and operational
initiatives, including whether the expected benefits of our plan
and initiatives are achieved within expected timeframes or at all,
timely product introductions, and rapidly changing technologies,
our ability to maintain competitive leadership position with
respect to our payment solution offerings, our dependence on a
limited number of customers, downturns in the retail sector, the
pace of EMV adoption in the United States, the conduct of our
business and operations internationally, including the complexity
of compliance with international laws and regulations and risks
related to adverse regulatory actions, including tax-related audits
and assessments, our ability to deliver new products to the market
on time and in sufficient quantities to meet demand, our ability to
protect our computer systems and networks from fraud, cyber-attacks
or security breaches, our assumptions, judgments and estimates
regarding the impact on our business of political instability in
markets where we conduct business, uncertainty in the global
economic environment and financial markets, the status of our
relationships with and condition of third parties such as our
contract manufacturers, key customers, distributors and key
suppliers upon whom we rely in the conduct of our business, our
ability to effectively integrate the businesses we acquire and to
achieve the expected benefits of such acquisitions, our ability to
effectively hedge our exposure to foreign currency exchange rate
fluctuations, successful execution of our restructuring plans,
including whether the expected benefits of restructuring and
divestiture plans are achieved within expected timeframes or at
all, and our dependence on a limited number of key employees. For a
further list and description of the risks and uncertainties
affecting the operations of our business, see our filings with the
Securities and Exchange Commission, including our annual report on
Form 10-K and our quarterly reports on Form 10-Q.
The forward-looking statements speak only as of the date such
statements are made. Verifone is under no obligation to, and
expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20171220005989/en/
VerifoneInvestor Relations:Chris Mammone,
408-232-7230ir@verifone.comorMedia Relations:Kwiyoung Baumgarten,
770-754-3460press@verifone.com
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