VeriFone (NYSE: PAY) announced Monday that its CEO Doug Bergeron would step down Tuesday. In his place, the board appointed Chairman Richard McGinn in an interim role, while Leslie Denend takes on the role of chairman.
Investors evidently like the move, as VeriFone shares jumped more than 10% in the after-hours session.
VeriFone has been one of the worst performers over the last year, falling from about $55 per share in May to near $20 currently.
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