VeriFone promoted its executive vice president of operations to the role of chief operating officer and appointed three other executives to regional president posts, the point of sale terminal manufacturer announced this week.
As COO, Eliezer Yanay, 52, will oversee the localization of the company's global product portfolio, including responsibility for ensuring local-level customizations and certifications of the company's global product lines, VeriFone said in a press release. Yanay joined VeriFone following its acquisition of Lipman Electronic Engineering in 2006, and has served as EVP of operations since August 2011, where he was responsible for global R&D initiatives, supply chain and product management. Before that, he was responsible for all operations and manufacturing in Israel, as well as business development, sales and marketing in Continental Europe, Southeastern Europe and Asia.
VeriFone said it has consolidated its northern, western and central Europe regions and appointed Johan Tjärnberg president of VeriFone Europe and Southern Africa. Tjärnberg, 37, has served as the CEO of Point, the POS and e-commerce technology developer VeriFone acquired in late 2011, since 2010.
Former North America EVP Jennifer Miles was named president of VeriFone Americas. The 41-year-old joined VeriFone in 2001 and will now lead VeriFone's business in North America, Latin America and the Caribbean.
Bulent Ozayaz, 39, will now serve as president of VeriFone Southern Europe, Russia, Middle East and Northern Africa. Ozayaz, who joined the company in 2006, was previously the general manager and senior vice president of South Europe and Russia. Before that, Ozayaz was the general manager of the company's North American Wireless Solutions and VeriFone Media businesses.
The promotions are all newly-created positions. In addition, VeriFone says Jeff Dumbrell will no longer serve as the executive vice president of Europe, Middle East, Africa and Asia. It’s unclear whether Dumbrell has assumed a new role or is no longer with the company and a VeriFone spokesperson did not immediately respond to a request for comment.
The executive shakeup comes a week after Doug Bergeron resigned as CEO of VeriFone and the San Jose, Calif.-based company continues its search to replace him.
In a March 15 filing with the Securities and Exchange Commission, VeriFone said its board accepted Bergeron’s resignation as “termination without cause” and has exercised an option in his employment contract to extend his one-year noncompete period. Bergeron will receive $2 million in severance pay over the course of the two-year-long noncompete period and is entitled to continuation of medical benefits.
VeriFone also disclosed its employment agreement with Richard McGinn, the company’s former board chairman who is now serving as interim CEO. The former Lucent Technologies CEO will receive a salary of $170,000 per month, and will be granted $1.5 million in restricted stock units. McGinn is not eligible for an annual cash bonus, but if he is still serving as interim CEO on Sept. 1, he will receive $250,000 in restricted stock units for every month he remains in the role.