Green Dot engages Citi to “explore potential strategic alternatives”, CEO George Gresham departs
The board of directors at US-based digital bank and fintech Green Dot have “engaged Citi to initiate a process to explore potential strategic alternatives”, according to a statement, while also announcing a new leadership transition, with CEO and president George Gresham departing the firm.
Green Dot CEO and president George Gresham departs
The company says that its “management team are committed to acting in the best interests of Green Dot, its stockholders and its stakeholders”, adding that “no assurances can be given as to the outcome or timing of the strategic review process”.
“Green Dot does not intend to make any further public comment regarding the process until it determines that disclosure is appropriate,” the company’s statement continues.
Meanwhile, William Jacobs, who has chaired the company’s board of directors since June 2016, has been named as the new interim CEO of Green Dot.
Jacobs previously held the same position between January and March 2020, and will continue to act as chairman of the board.
At the same time, Chris Ruppel, who has served as Green Dot’s chief revenue officer since November 2022, will now also assume the position of president of Green Dot, as well as interim CEO and president of its Utah-based subsidiary, Green Dot Bank.
Both appointments are effective 7 March 2025, with Jacobs and Ruppel succeeding George Gresham, who departs the company after more than two years as CEO.
Gresham was appointed to the role in October 2022 after the company fired former CEO and president Dan Henry. Gresham had previously been serving as Green Dot’s chief financial and operating officer.
Gresham’s LinkedIn describes his current position as “retired’ish…again”.
