Tier Announces Appointment of Chief Operating Officer
10 October 2008 - 7:15AM
Business Wire
Tier Technologies, Inc. (Nasdaq: TIER) today announced the
appointment of Nina K. Vellayan as its Chief Operating Officer. "We
are delighted to welcome Nina Vellayan to the Tier team as Chief
Operating Officer," said Ronald L. Rossetti, Chairman and Chief
Executive Officer for Tier. "Nina will bring successful business
experience to the Tier payment processing platforms. She will be
able to assist us in our continued growth and significantly
streamline our operating procedures and platforms." From 2001
through September 2008, Ms. Vellayan served as President of
Business Office Solutions, a division of Sallie Mae Inc., which
provides business office reengineering services to universities,
colleges, associations, the K-12 and the municipal tax marketplace
utilizing internet and IVR based technologies. From October 1994
until 2001, Ms. Vellayan served as Director, Cash Management and
Banking Strategies, Corporate Finance for Sallie Mae. About Tier
Technologies, Inc. Tier Technologies, Inc. primarily provides
federal, state and local government and other public sector clients
with electronic payment processing and other transaction processing
services. Headquartered in Reston, Virginia, Tier Technologies
serves over 3,000 electronic payment processing clients throughout
the United States, including federal, state, and local governments,
educational institutions, utilities and commercial clients. Through
its subsidiary, Official Payments Corp., Tier delivers payment
processing solutions for a wide range of markets. For more
information, see www.tier.com and www.officialpayments.com.
Statements made in this press release that are not historical facts
are forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Tier undertakes no obligation to update any such
forward-looking statements. Each of these statements is made as of
the date hereof based only on current information and expectations
that are inherently subject to change and involve a number of risks
and uncertainties. Actual events or results may differ materially
from those projected in any of such statements due to various
factors, including, but not limited to: the impact of governmental
investigations; the potential loss of funding by clients, including
due to government budget shortfalls or revisions to mandated
statutes; the timing, initiation, completion, renewal, extension or
early termination of client projects; the Company�s ability to
realize revenues from its business development opportunities; the
timing and completion of the divestment of the Company�s non-core
assets; and unanticipated claims as a result of project
performance, including due to the failure of software providers or
subcontractors to satisfactorily complete engagements. For a
discussion of these and other factors which may cause our actual
events or results to differ from those projected, please refer to
the Company's annual report on Form 10-K for the fiscal year ended
September 30, 2007 filed with the SEC.
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