CORRECTING and REPLACING -- AppTech Appoints Albert L. Lord as Executive Chairman and Adds Robert L. Lipstein to Board of Directors
Rhea-AI Summary
AppTech (OTCQB: APCX) announced management and board changes effective May 4, 2026. Albert L. Lord moves from board chairman to Executive Chairman to work closely with CEO Thomas DeRosa. The company also added Robert L. Lipstein to the board. The board approved employment contracts for CEO Thomas DeRosa and COO Anthony Shall through 2027. DeRosa said the business "virtually tripled" from Q4 2025 to Q1 2026.
AI-generated analysis. Not financial advice.
Positive
- Albert L. Lord named Executive Chairman effective May 4, 2026
- Added Robert L. Lipstein, former KPMG Global SOX leader, to the board
- Board approved employment contracts for CEO and COO through 2027
- Company reported business nearly tripled Q4 2025 to Q1 2026 (company statement)
Negative
- Executive employment contracts extend company commitments through 2027
CARLSBAD, Calif., May 08, 2026 (GLOBE NEWSWIRE) -- In a release issued under the same headline on May 7, 2026, by AppTech Payments Corp. (OTCQB: APCX), please note that the date in the first paragraph should be May 4, not May 1, as previously stated. The corrected release follows:
AppTech Payments, Inc. (the Company) today announced that as of May 4, 2026, Albert L. Lord, previously Chairman of the Company’s Board of Directors, will serve as AppTech’s Executive Chairman. The expanded role includes regular collaboration with Thomas DeRosa who will continue as Chief Executive Officer and report to the full Board.
DeRosa stated he is pleased “that Al is willing to give of his time and experience to help me manage the challenges of our increasingly complex business. We virtually tripled our business from the fourth quarter of 2025 to quarter one, 2026. Technological, compliance and backroom demands reflect that growth.”
The Company also reported the addition of Robert L. Lipstein to the Board. Lipstein’s career was with KPMG where he served as Global Sarbanes-Oxley (SOX) Leader. Bob serves several other boards, including two banking companies. AppTech looks forward to its association with Mr. Lipstein.
The Board entered employment contracts through 2027 with Thomas DeRosa, CEO and Anthony Shall, COO.
About AppTech Payments Corp.
AppTech Payments Corp. (OTCQB: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure. For more information, please visit apptechcorp.com.
AppTech Payments Corp.
760-707-5959
info@apptechcorp.com
