VersaPay Corporation, a leading provider of cloud-based financial technology solutions, today announced that CEO, Bill McGill has resigned and will be leaving the Company, effective August 31, 2013.
Mr. McGill will remain on VersaPay's Board of Directors. Mr. McGill will be replaced by software veteran Craig O'Neill.
"On behalf of the Board, we thank Bill for his dedication to VersaPay and his valuable contributions to the Company," said Jason Gurandiano, VersaPay's Chairman. "Bill led the company through a critical period in its development and leaves VersaPay with the key foundational pieces in place to create significant value for shareholders. We are pleased that he has agreed to stay on the board of VersaPay to ensure an orderly CEO transition."
Mr. Gurandiano continued, "We are very fortunate to have attracted a replacement of Craig O'Neill's caliber. Having grown Xeye and achieved a successful exit for shareholders, Craig brings a deep understanding of how to build a successful software business."
Mr. O'Neill added, "As a software entrepreneur I see in VersaPay all of the elements of success: a unique software platform in an exciting market segment, a great team and partnerships that have the potential to drive significant growth. I'm excited to be joining the VersaPay team and to lead the company through its next phase of growth."