Payment technology provider VeriFone announced on Wednesday that consumer financial services expert Jane J. Thompson will replace Richard A. McGinn as board director.
McGinn previously served as the interim CEO from March 2013 to September 2013, after former CEO Douglas Bergeron resigned amid reports that a VeriFone distributor had allegedly sold equipment to banks in Iran—a potential violation of U.S. economic sanctions, Digital Transactions reports.
“The board thanks Rich for his service in many roles over the years including interim CEO and chairman of the board, and we wish him well,” VeriFone Chairman Leslie Denend said. “We are also delighted to welcome Jane to the board and know that her strong leadership and industry experience will serve VeriFone and our executive team well.”
Thompson, the former president of Walmart Financial Services and former executive vice president of Sears Credit and Home Services, most recently worked as a strategic consultant. She has also served as partner at McKinsey & Co. and in the field of brand management and marketing. She is a member of The Fresh Market’s board and a former board member of ConAgra Foods.
“I’m… very pleased to have Jane join our board,” VeriFone CEO Paul Galant said. “She is an expert on the evolving relationship between retailers and consumers and her experience will help us achieve our goal of enabling the next generation of commerce for our clients.”