VeriFone CEO Paul Galant says he is re-organizing the terminal maker's fragmented research and development process and improving its current cost structure in an effort to repair the company.

Galant became VeriFone's CEO and a member of its board of directors on Oct. 1, 2013 as a permanent replacement to longtime CEO Doug Bergeron, who left the company in March of 2013. Galant took over a company dealing with issues such as deteriorated customer relationships and heightened competitive pressures.

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