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ECHO Announces CEO Retirement and New Leadership Appointments |
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Electronic Clearing House has announced the upcoming retirement of Chairman and Chief Executive Officer Joel M. (“Jody”) Barry, effective July 2, 2007, the anticipated date of the Company’s Annual Meeting of Shareholders.
Upon Barry’s retirement, President and Chief Operating Officer Charles J. (“Chuck”) Harris will assume the position of Chief Executive Officer, and independent Board member Richard D. Field will assume the role of non-executive Chairman of the Board of Directors. Mr. Barry’s retirement ends a 20-year span of ECHO leadership. Jody Barry has been a Director of ECHO since 1987 and Chairman of the Board since December 1987. Mr. Barry served as Executive Vice President and Chief Financial Officer of ECHO from 1987 to 1990 at the time of his appointment as Chief Executive Officer. Since 1990, Mr. Barry has also been a Director and the Chief Executive Officer of ECHO’s MerchantAmerica, Inc. and XPRESSCHEX, Inc. wholly owned subsidiaries, roles which Mr. Harris will also assume. The Company expects to finalize a retirement separation arrangement with Mr. Barry prior to the anticipated Annual Meeting. Chuck Harris joined ECHO in September 2005 as President, Chief Operating Officer and Director. Prior to joining the Company, Mr. Harris served in executive, operational and sales leadership positions at prominent organizations including Paymentech and Electronic Data Systems. Most recently, from 2002 to 2005, he was President and Chief Executive Officer of Merchant Link, a wholly-owned subsidiary of Paymentech and a supplier of electronic payment technologies and outsourced services to the point-of-sale market. Richard Field became a Director of ECHO in July 2004. Mr. Field has worked in the financial services industry for over 40 years as an executive of the Bank of New York, Chase, and Citigroup, and a director of MasterCard International and Chairman of its U.S. Board of Directors. Since his retirement from full time employment in 1997, Mr. Field has continued his career in the specialty financial services sector as a co-founder and director of LendingTree, Inc. and as a board member of Providian Financial Corporation and HPSC, Inc. ECHO’s Annual Meeting of Shareholders is tentatively scheduled for July 2, 2007 and will be held at the Company’s offices. |
