Verifone adds Dr Ron Black and Larry Klane to its Board of Directors

– USA, CA – 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.

For more information : http://www.verifone.com

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