USA Technologies Inc (USAT)

[FUNMAN]

USA Tech names new CEO, CFO

Mar. 2, 2020 8:22 AM ET|About: USA Technologies, Inc. (USAT)|By: Brandy Betz, SA News Editor

USA Technologies (OTC:USAT) appoints Donald Layden, Jr. Chief Executive Officer and President, effective immediately.

Layden had served as interim CEO since October. He will remain on the USAT board but leave his role as executive chairman.

Michael Wasserfuhr is named as CFO, effective immediately. His CFO work history includes Ingenico North America, Worldpay, and Vesta.

New board members: Toyota Research Institute CFO Kelly Kay and Sunil Sabharwal, former U.S. Alternative Executive Director to the International Monetary Fund, join as independent directors. Sabharwal will serve as non-executive chairman.

Board resignations: Steven Barnhart, Joel Brooks, and William Reilly, Jr., have resigned from the board, effective immediately, and won't seek reelection.