Wednesday, September 12, 2007

John Morris Takes over Helm at Pay By Touch

Eula Adams fills vacancy left by John Morris as Chief Operating Officer...

John Morris
Former President and Chief Operating Officer, Director, takes over as new CEO of Pay By Touch.

John Morris joined Pay By Touch in May, 2005 after a 23 year general management career with IBM that included positions in marketing, sales, strategy and business transformation. Since late 2001, he was instrumental in developing and managing relationships with top clients in the retail, consumer products, travel, transportation, hospitality and gaming industries as VP of the Distribution Sector, Americas.

In that capacity, he ran the $5 billion P&L consisting of the total IBM revenue stream from all the key clients in those industries. From 1996-1998 he held the same position running the $1 billion Distribution Sector for the Asia-Pacific Region as part of his 4 year stint living in Tokyo. In previous roles, Morris led global sales and marketing for the IBM zSeries mainframe product line and ran "Operation Mach 1", the project that drove common branding for all IBM servers product lines.

Morris was appointed to and served as a member of the IBM Senior Leadership Team from 1999 until his departure.

Eula Adams

Member of the Board of Directors, now COO of Pay By Touch.

Since 1991 Eula Adams has served as senior executive vice-president of First Data Corporation, the world leader in payment processing, with worldwide revenues of $8.0 billion. During his tenure at First Data, Mr. Adams was president of First Data Resources, overseeing a $2.0 billion revenue stream and the largest third party processor of Visa and MasterCard credit, debit, and retail card accounts in the world. He currently serves as the Senior Vice President of Storage Sales Practice at Sun Microsystems. The Global Storage Practice accounts for approximately 20% of Sun's $13 billion in revenues. Prior to First Data Resources, Mr. Adams was president of First Data Merchant Services, the leading acquirer of merchant sales tickets and processor of those transactions (primarily Visa and MasterCard).

The company processed over 8 billion transactions annually, and had over 6,000 employees. Prior to First Data Merchant Services, Mr. Adams was chief operating officer of Western Union, which had been acquired by First Data Corp. in late 1995. During this time Mr. Adams was responsible for day-to-day management of finance and accounting, HR, back office operations, and merger integration. From 1972 to 1991, Mr. Adams was a Partner in the Executive Committee of Deloitte & Touche.

Mr. Adams has served on the Board of Directors of several companies, including MasterCard International, Wells Fargo Merchant Services, and NYCE Corporation. Mr. Adams received his MBA from Harvard Business School.

John Rogers remains Founder and Chairman and will focus his efforts in raising the last round of financing along with Gus Spanos and John Townsend prior to their IPO which is tentatively scheduled for 1st or 2nd quarter of 2008. Word is, Carrefour, will be rolling out Pay By Touch as part of the financing equation. John Rogers has done an excellent job at raising capital for Pay By Touch, and was especially creative, along with Gus Spanos, is keeping dilution to a minimum by utilizing the Hedge Fund industry, versus Venture Capitalists, during their last major round of capital funding. He's worked his butt off for the last 4 years and congrats on the job he has done. I look forward to seeing what the new, more experienced leadership can do for the company.