Corillian Corp. (NASDAQ: CORI), the top provider of online banking solutions to leading financial institutions, today announced that John B. McCoy has resigned from its board of directors.
A new chairman will be named at an upcoming board meeting. Mr. McCoy continues to serve on the boards of directors of Federal Home Loan Mortgage Corporation (Freddie Mac), SBC Communications, Inc. and Cardinal Health.
"I've really enjoyed my time on the Corillian board. I am particularly proud of the way that the company has performed during the past year, reaching profitability and seeing its stock price increase over 1000 percent, from a low of $0.61 a share to $6.34 a share at the end of the year," Mr. McCoy said. "Corillian has reached profitability by controlling its costs and maintaining its focus on providing great software and services to its customers, and this is a great time for me to reduce the number of boards I serve on by stepping down."
"John has made a big contribution to Corillian's success over the past three years as a director and as our chairman of the board," said Alex Hart, president and chief executive officer of Corillian. "His knowledge and experience provided us with guidance on a number of issues, and we are grateful for his years of service."