Green Dot names interim CEO and president, to review operational alternatives

Green Dot Corp., a Provo-based digital bank and financial technology company providing banking and payment tools for consumers and businesses, has announced the appointment of new executive leadership, effective March 7.

Green Dot said that William I. Jacobs, who has served as chairperson of the board of directors since June 2016 and previously served as interim CEO, returns to the position of interim CEO of Green Dot Corp. Chris Ruppel, who has served as Green Dot’s chief revenue office, has been appointed as interim president of Green Dot and interim CEO and president of Green Dot Bank.

Jacobs and Ruppel succeed George Gresham, who has left the company amid the reorganization. Jacobs will continue to serve as chairman of the board and Ruppel will continue to serve as chief revenue officer.

The board of directors at the bank and fintech Green Dot have “engaged Citi to initiate a process to explore potential strategic alternatives,” according to a statement. “The board of directors and management team are committed to acting in the best interests of Green Dot, its stockholders and its stakeholders”

“No assurances can be given as to the outcome or timing of the strategic review process, and Green Dot does not intend to make any further public comment regarding the process until it determines that disclosure is appropriate,” the statement concludes.

Prior to joining Green Dot, Jacobs served on the board of Repay Holdings Corp., a publicly traded financial technology company, and as a member of the board of Global Payments Inc., a payment processing services company.

Ruppel was previously general manager of Green Dot’s direct-to-consumer business, focusing on the growth of its flagship digital bank, and led Green Dot’s PayCard business, overseeing the development and launch of Green Dot’s earned wage access solution.