Green Dot (GDOT) announced that its board of directors has engaged Citi to initiate a process to explore potential strategic alternatives. The company said the board of directors and management team are committed to acting in the best interests of Green Dot, its stockholders and its stakeholders. Green Dot also announced that William I Jacobs, who has served as chairperson of Green Dot’s board of directors since June 2016 and previously served as interim CEO from January 2020 through March 2020, has been appointed as interim Chief Executive Officer of Green Dot, effective as of March 7. Chris Ruppel, who has served as Green Dot’s chief revenue officer since November 2022, has been appointed as interim President of Green Dot and interim CEO and president of Green Dot Bank, effective the same date. Jacobs and Ruppel succeed George Gresham, who ceased serving as CEO and president of Green Dot and Green Dot Bank and as a member of Green Dot’s board of directors, effective as of March 7. Jacobs will continue to serve as chairman of the board, and Ruppel will continue to serve as chief revenue officer.
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