Santa Clara, CA - June 30, 2004 - Verifone Inc, the world’s leading provider of payment solutions, today announced the appointment of Barry Zwarenstein as Senior Vice President and Chief Financial Officer, effective July 1. Zwarenstein brings extensive global experience leading finance and administration functions in the high technology and other industries. At Verifone, he will be responsible for the finance, investor relations, legal, human resources and IT functions.
“Verifone’s expectations for further extending the leadership position it enjoys in the growing market for point of sale electronic payment solutions make it imperative that we operate with a world-class executive management team. I am excited to have a seasoned executive such as Barry join us and strengthen our senior management organization. His considerable financial and managerial skills will help Verifone capitalize upon the considerable market opportunities we are addressing,” said Doug Bergeron, Chairman and CEO of Verifone Inc.
Zwarenstein succeeds Don Campion who will be leaving the company at the end of July.
“I would also like to thank Don for all his hard work and many contributions to Verifone,” Bergeron added. “Verifone owes a lot to Don and I enjoyed our time together. We all wish Don the best in his future endeavors.”
Zwarenstein started his career at FMC Corporation, where he held a variety of global financial positions, including, at the time of his departure, Chief Financial Officer for FMC Europe in Brussels, Belgium. Subsequently, Zwarenstein has been the CFO of three public companies: Logitech S.A., where he played a lead role in the company’s NASDAQ IPO, Acuson Corporation, where he was pivotal in the sale of the company to Siemens Medical, and, most recently, Iomega Corporation, where he helped achieve considerable cost and expense reductions and was key in doubling institutional ownership of the company’s stock.
Zwarenstein received a Bachelor of Commerce degree from the University of Natal, South Africa and a MBA from the Wharton School of Business at the University of Pennsylvania. He is qualified as a Chartered Accountant (South Africa).
“Verifone has tremendous potential by virtue of its strong brand, reputation for innovation and entrenched, long-standing distribution channels,” said Zwarenstein. “I am excited to be joining this highly respected organization and look forward to helping Verifone continue to grow profitably.”
About Verifone Inc.
Verifone, Inc., recognized worldwide as the trusted leader in secure electronic payment technologies, provides expertise, solutions and services for today with a smart migration strategy for tomorrow. Verifone is leading the industry in the delivery of solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. Verifone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare. Verifone has shipped over eleven million electronic-payment systems.