MALVERN, Pa.--(BUSINESS WIRE)--
USA
Technologies, Inc. (NASDAQ:USAT) ("USAT"), a premier payment
technology service provider of integrated cashless and mobile
transactions in the self-service retail market, today announced the
appointment of Leland "Lee" Maxwell as interim chief financial officer
(CFO); he replaces J. Duncan Smith, whose departure is also announced
today. Mr. Smith's resignation was not due to any disagreement with the
Company, its management or Directors on any matter relating to the
operations, policies or practices of the Company.
Mr. Maxwell begins his interim CFO duties effective January 28, 2016. He
is a senior financial executive with more than 30 years of business
experience. He is a certified public accountant (CPA). He served as the
company's CFO and treasurer from 1997 to 2003. He is the founder of
Maxwell CFO Consulting, a firm that specializes in CFO and controller
outsource consulting in the Mid-Atlantic region. Previously he has
served in the roles of CFO at Nurture, Inc., and controller at
MeadWestvaco, and Smurfit Stone Container. He is also Board Chair and
co-founder of the DMAX Foundation, a Pennsylvania nonprofit organization
founded in 2013, to eliminate stigma and encourage safe and caring
conversations about mental health and emotional pain in our youth. Mr.
Maxwell has an MBA in finance and accounting from The Wharton School at
The University of Pennsylvania and a B.A. from Williams College.
"We are pleased to welcome back Lee Maxwell to the company as interim
CFO, as his financial acumen will help guide us as we continue to
execute our growth strategy," said Stephen P. Herbert, chairman and
chief executive officer, USA Technologies.
About USA Technologies
USA Technologies, Inc. is a premier payment technology service provider
of integrated cashless and mobile transactions in the self-service
retail market. The company also provides a broad line of cashless
acceptance technologies including its NFC- ready ePort® G-series, ePort
Mobile™ for customers on the go, and QuickConnect, an API Web service
for developers. USA Technologies has been granted 87 patents; and has
agreements with Verizon, Visa, Chase Paymentech and customers such as
Compass, AMI Entertainment and others. The company recently acquired
Portland, Oregon based VendScreen, the industry's leading manufacturer
of retrofit touchscreen devices for vending machines. For more
information please visit the website at www.usatech.com.
F-USAT
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Source: USA Technologies, Inc.
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