UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 15, 2012
Green Dot Corporation
(Exact Name of the Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-34819 | 95-4766827 | |
(Commission File Number) | (IRS Employer Identification No.) | |
3465 East Foothill Blvd. Pasadena, CA 91107 | (626) 765-2000 | |
(Address of Principal Executive Offices) | (Registrant's Telephone Number, Including Area Code) | |
Not Applicable
(Former Name or Former Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2)
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 15, 2012, Green Dot Corporation (“Green Dot”) announced that William D. Sowell, Chief Operating Officer, will no longer serve in such capacity effective as of November 16, 2012. He is expected to remain with Green Dot until December 30, 2012 to facilitate the transition of his duties.
A press release announcing the foregoing and other matters is attached as Exhibit 99.01 hereto, and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Number Description
99.01 Press release, dated November 15, 2012
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
GREEN DOT CORPORATION | |||
By: | /s/ JOHN C. RICCI | ||
John C. Ricci | |||
General Counsel and Secretary | |||
Date: November 15, 2012
EXHIBIT INDEX
Number Description
99.01 Press release, dated November 15, 2012
Exhibit 99.01
Green Dot Appoints New Key Executives
Kuan Archer to lead Technology. Jim Koster to lead Human Resources
Pasadena, Calif. - November 15, 2012 -Green Dot Corporation (NYSE: GDOT) announced the hiring of two key executives, Kuan Archer and Jim Koster, and related organizational changes.
Kuan Archer has joined the Company as Chief Technology Officer / Executive Vice President of Product Development. In this role, Mr. Archer is responsible for leading Green Dot's entire technology organization including software development and network operations. Prior to joining Green Dot, Mr. Archer was Senior Vice President of Product Development at Rovi Corporation, formerly known as Macrovision. At Rovi he was responsible for all of Rovi's Cloud Services, eCommerce, and Platform As A Service product lines, as well as development operations across Web, PC/Mac, and Mobile (iOS, Android) platforms. Mr. Archer's prior experience also includes holding senior roles at Symantec, where he was responsible for platform architecture and product development for a number of Symantec's cloud-based identity protection offerings for financial institutions and eCommerce providers, and various leadership and development roles at Microsoft Corporation, where he worked for nearly a decade. Mr. Archer received a B.S. degree from the University of Texas at Austin, and an M.B.A. degree from the University of Washington. He holds multiple patents and patents pending in the areas of Cloud Services connectivity and Internet Security, and has been a featured speaker at a number of notable industry conferences and Universities.
Jim Koster has been recruited to join Green Dot as Senior Vice President of Human Resources, commencing in December 2012. Mr. Koster joins Green Dot from Starbucks Corporation, where he was responsible for human resources for Starbucks' Europe, Middle East and Africa and Asia Pacific regions. Prior to that position, Jim oversaw human resources for Starbucks' U.S. business. Prior to Starbucks, Jim served in senior human resources leadership roles at Honeywell and Dell. Mr. Koster is a proven leader in people management, organizational structure and talent recruitment.
In connection with Kuan's appointment, Sam Altman has been named Executive Vice President of Mobile Products and Technology. Mr. Altman joined Green Dot following its March 2012 acquisition of Loopt, Inc., where he served as Chief Executive Officer. He is known as a mobile technology leader and innovator in Silicon Valley and the inventor of Geolocation mobile messaging-the practice of sending a commercial message to a mobile phone based on its location. Green Dot now owns the patent for that invention as a result of its acquisition of Loopt.
Mr. Archer, Mr. Altman and Mr. Koster will report directly to Green Dot Chairman and Chief Executive Officer, Steve Streit. In addition to these organizational changes, William D. Sowell, Chief Operating Officer, has resigned his position effective November 16th and will remain with the Company until December 30th, 2012 in order to provide transitional services.
Green Dot Chairman and Chief Executive Officer Steve Streit stated, "Will Sowell has done a fine job for Green Dot and we thank him for his many contributions."
"With the appointment of Kuan Archer to lead technology and the ongoing focus of Sam Altman to bring industry leading mobile banking products to market, Green Dot is executing on its resolve to become a leading financial services technology company with the best technology and the best products in the banking industry. Furthermore, with the appointment of Jim Koster, we are demonstrating our commitment to have only the best people work at Green Dot in an environment that encourages innovation, accountability and performance," added Mr. Streit.
About Green Dot Corporation
Green Dot Corporation is a Bank Holding Company with a mission to reinvent personal banking for the masses. Its market leading brand of prepaid debit cards and prepaid reload services are available to consumers at more than 60,000 retail locations nationwide and online at greendot.com. The company is headquartered in Pasadena, California with technology offices in Mountain View, California and Westlake Village, California and its bank subsidiary, Green Dot Bank, located in Provo, Utah.