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Hypercom CEO William Keiper resigns

12 July 2007  |  3818 views  |  0 Source: Hypercom

Hypercom Corporation (NYSE:HYC) today announced that William Keiper is stepping down as CEO of the Company and will be resigning as a member of the Board of Directors effective August 15th, 2007.

Philippe Tartavull, President of Hypercom, has been promoted to Chief Operating Officer effective immediately. Ian Marsh, Executive Vice President and Managing Director, Asia Pacific Region of the Western Union Company, has been appointed a member of the Board of Directors.

The Company will conduct a search for a new CEO under the direction of Chairman, Daniel Diethelm.

Until the appointment of a new CEO, the Company will be directed by an interim Office of the Chairman comprising Daniel Diethelm, Chairman, Philippe Tartavull, President and Chief Operating Officer, and Thomas Liguori, Chief Financial Officer. Mr. Tartavull will continue to be responsible for the day-to-day operations of the Company. Mr. Liguori, in addition to his role as CFO, will be responsible for completing Hypercom's recently announced end-to-end supply chain initiative. He will be supported by Mr. Keiper under a consulting arrangement.

About William Keiper

Mr. Keiper, a director of Hypercom and Chairman of the Board of Directors, became interim CEO of the Company upon the departure from the Company of the then CEO on March 30, 2005. Mr. Keiper was appointed by the Board as CEO and President in August 2005, and remained a member of the Hypercom Board.

Over the two years of his tenure as CEO, Mr. Keiper led the Company to achieve strong accounting controls over its businesses globally; significantly restructured its expense base, including most recently through the transition from internal manufacturing to contract manufacturing; oversaw the introduction of a strong new PCI-approved family of terminal and PIN pad products on a common platform; and built a sales and marketing team enhancing Hypercom's ability to compete globally.

"Will has served Hypercom well since stepping into the CEO position in 2005," said Daniel Diethelm, Chairman of the Board. "With many of the tough and critical steps behind us, we now all believe it is time for Hypercom to be led by a person who can take the Company to the next level in terms of its sales and marketing success in the marketplace, and ideally, with experience in the payments business. We will be looking at both external and internal candidates. We thank Will for his dedication, and wish him every success in his next endeavor."

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