CPI Card Group, Inc. (PMTS) CFO to Resign

August 10, 2016 4:22 PM EDT

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CPI Card Group (Nasdaq: PMTS) today announced that David Brush will resign from his position as Chief Financial Officer effective December 31, 2016. Mr. Brush has agreed to remain available to serve as a part time executive consultant to the Company to assist with the transition of responsibilities through June 30, 2017. The Company and Board of Directors will immediately begin the search for a new CFO with the assistance of a leading executive search firm.

Steve Montross, President and Chief Executive Officer of CPI Card Group, said: "I want to thank Dave for his strong leadership of our finance and accounting operations and the important role he played in our initial public offering last year. On behalf of the entire Company, I thank Dave for all his valuable contributions and wish him the very best.”

Mr. Brush commented, “I have come to the decision that I want to spend more time with my family and consider other interests over time. I have enjoyed working with CPI Card Group, and remain confident that the Company is in a strong position to achieve great success in the future. I am committed to working with the Board and management team to ensure a seamless transition into 2017.”

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