Usio Mourns the Loss of Long-Time, Previous Retired, Board Member, Dr. Peter Kirby, PhD
Rhea-AI Summary
Usio (Nasdaq: USIO) announced the passing of Dr. Peter Kirby, the company's longest-serving board member, on December 7, 2024. Dr. Kirby served on Usio's Board from 2001 until his retirement in 2016, playing a important role in establishing the company's audit committee and governance structures, particularly during Usio's uplisting to Nasdaq in 2015. He developed the 'MCGO' (Mission, Commitment, Goals, and Opportunities) strategic management framework. In recognition of his contributions, the Board unanimously voted to honor Dr. Kirby with the posthumous title of Director Emeritus during a special meeting on December 10, 2024.
Positive
- Established key governance structures that led to successful Nasdaq uplisting in 2015
- Implemented MCGO strategic management framework still benefiting company operations
Negative
- None.
News Market Reaction
On the day this news was published, USIO declined 6.85%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN ANTONIO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), a cloud-based provider of integrated FinTech electronic payment solutions, is deeply saddened to announce the passing of Dr. Peter Kirby, the Company’s longest-serving board member, on December 7, 2024.
“I am heartbroken by Peter’s passing,” said Louis Hoch, Vice-Chairman, President, and CEO. “Peter was not only a mentor and confidant, but also a dear friend, professor, and even a golf partner for nearly 36 years. Our relationship began during my undergraduate and graduate studies at Our Lady of the Lake University, where Peter’s guidance left a lasting impression. We were fortunate to continue benefiting from his wisdom when we invited him to join the Company’s Board of Directors. Throughout his tenure, Peter was a steadfast coach, mentor, and a voice of reason.”
“Peter’s approach to strategic management was unparalleled,” continued Mr. Hoch. “He developed a unique methodology for creating strategic plans that were both simple to understand and highly effective in execution. His process, which he called 'MCGO'—pronounced 'mick-go'—stood for Mission, Commitment, Goals, and Opportunities. This framework empowered organizations and Usio to align all stakeholders around a clear and actionable vision.”
Dr. Kirby served on Usio’s Board from 2001 until his retirement in 2016. His leadership was instrumental in establishing the Company’s audit committee and other key governance structures, particularly in preparation for Usio’s uplisting to Nasdaq in 2015. Over the years, he contributed to the Company’s audit, nomination and governance, and compensation committees.
In a special meeting of the board of directors of the Company on December 10, 2024, the Board unanimously voted to honor Dr. Kirby with the posthumous title of Director Emeritus, a recognition of his lasting impact on Usio and its continued success.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas.
Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.
FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management's intent, belief, and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as "believe," "intend," "look forward," "anticipate," "schedule,” and "expect" among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including such risks related to an economic downturn as a result of the COVID-19 pandemic, the management of the Company's growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2023. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.
Contact:
Paul Manley
Senior Vice President of Investor Relations
paul.manley@usio.com
612.834.1804
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6f7fa6fb-dbe0-4d06-8b12-f00cc24dedef
FAQ
When did Dr. Peter Kirby serve on USIO's board of directors?
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