Panini is implementing this managed change to support and accelerate continued growth, extend market share leadership, and complete the company's transition to a global solutions provider in the payments space. Current CEO Nicola Aliperti will remain with Panini for the balance of 2012, continuing to lead the company while assisting with the transition of his role to Panini's new Chief Executive Officer, John O'Malley.

"We are pleased to add John's caliber of leadership and experience to our growing team," notes Panini Board of Directors member Stefano Cassina. "The Board also wants to take this opportunity to thank Nicola Aliperti for his leadership and many contributions."

Mr. O'Malley has a successful history of maximizing growth opportunities in firms with high potential. He most recently served as CEO of Memento, acquired by FIS, where he led the development and delivery of next generation technology solutions for bank management and mitigation of fraud. Prior to Memento, Mr. O'Malley was President and CEO of Harland Financial Solutions. He has also served in senior executive positions with Fiserv and Hogan Systems (now part of Computer Sciences Corp). His commitment to delivering exceptional value and results through a relentless focus on the customer, combined with his broad industry experience, makes him the ideal candidate to lead Panini's future growth.

"Panini has tremendous existing assets including an unparalleled customer base, strong channel relationships, a globally recognized brand, financial stability, and a talent rich organization," notes O'Malley. "We will fully leverage these assets to achieve substantial growth while continuing to respond to the needs and opportunities from our customers and business partners."