Board of VeriFone Systems Inc. (PAY) Monday said its Chief Executive Douglas Bergeron is stepping down, effective March 12. VeriFone's Chairman, Richard McGinn, has been named Interim CEO, while Leslie Denend has been named Interim Chairman.
The Board has formed a search committee to evaluate candidates to serve as the company's CEO, the San Jose, California-based company said in a statement.
Verifone also reiterated its guidance for second quarter and full year 2013. For the second quarter, VeriFone continues to expect adjusted earnings of $0.45 to $0.50 per share and adjusted net revenues of $435 million to $450 million.
Analysts currently expect earnings of $0.47 per share for the quarter on revenues of $441.58 million for the second quarter.
For fiscal year 2013, VeriFone continues to see adjusted earnings of $1.90 to $2.10 per share and adjusted net revenues of $1.80 billion to $1.83 billion.
Analysts currently expect earnings of $2.04 per share on revenues of $1.81 billion for 2013.
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