CLIFTON HEIGHTS, Pa., April 20, 2010 (GLOBE NEWSWIRE) -- ProfitPoint, Inc., a leading provider of stored value card services, today announced the appointment of Ward Schultz as its new Chief Operating Officer /Chief Financial Officer. Schultz was named the 2008 Philadelphia Business Journal's CFO of the Year, and has spent the last six years working in the stored value space for industry giant, Citibank NA. Schultz served as Citi Prepaid Services CFO and was CFO at Ecount when it was acquired by Citi in early 2007. He was instrumental in developing scalable financial systems to support revenue growth and profitability enhancement as well as the expansion of Citi Prepaid Services into Europe, Asia and Latin America. Prior to Ecount, Schultz was CFO at Fastnet Corporation, and before that, Chief Financial Officer and Chief Operating Officer at Asia Access Telecom, Inc., an international long distance telecommunications provider with operations in the United States, South Korea and Singapore. In his new role at ProfitPoint, Schultz will assume responsibility for the day-to-day operations of the company, including Finance, and eventually, the technology aspects of the business. Schultz will report directly to Vaden Landers, Chief Executive Officer of ProfitPoint.
Commenting on the appointment of Schultz, Landers said, "We are very fortunate to have a professional of Ward's caliber join the organization to lead the business and oversee day-to-day operations. Ward brings a wealth of knowledge and experience in working with venture backed firms that are on a significant growth curve similar to the one ProfitPoint has enjoyed since closing its first round of institutional financing in March 2007." Landers further commented, "Having Ward step in and run the business will allow our president, Jim Battista, and me to devote our full time and attention to growing ProfitPoint through the expansion of existing client relationships and the development of new strategic partnership opportunities within the closed loop market segment."
Schultz remarked, "I look forward to supporting the growth and development of the company. ProfitPoint is a leader in gift and loyalty with its customer focused operating model and robust proprietary technology, which represents a compelling value proposition to its ever-expanding customer base. This opportunity will allow me to leverage and apply what I have learned at other platform technology companies to augment its significant growth to even higher levels."
Schultz began his career at Deloitte & Touche and is a Certified Public Accountant. He holds a BS in Business Administration from Drexel University and a Masters in Taxation from Villanova University.
About ProfitPoint, Inc.
ProfitPoint, Inc. is a leading provider of gift and loyalty card services to the small to medium sized merchant community. Recognized by Inc. Magazine's list of 500/5000 fastest growing private companies for two consecutive years, ProfitPoint ranked No. 59 in the US in 2008 and No. 23 in Pennsylvania in 2009. Headquartered near Philadelphia, PA with its customer care center in Franklin, TN, ProfitPoint supports its gift and loyalty cards with real-time electronic transaction processing, customizable reports, point-of-purchase marketing tools and payment services. Now serving more than 25,000 locations nationwide, ProfitPoint produces over 15 million cards per year and does more than 20 million stored value transactions on its proprietary gift and loyalty card platform. www.rewardforloyalty.com
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