CPI Card Group Names John Lowe President and Chief Executive Officer

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced John Lowe has been named its new President and Chief Executive Officer and appointed to the Company’s Board of Directors, effective immediately. Lowe succeeds outgoing President and Chief Executive Officer Scott Scheirman, who had previously announced his intention to retire in early 2024.

Lowe has been with CPI Card Group since 2018, most recently as Executive Vice President, End-to-End Payment Solutions since late 2022. In this role he was responsible for a significant majority of the Company’s revenues and operations. He previously served as the Company’s Senior Vice President and General Manager, Secure Card, beginning in 2021, and was the Company’s Chief Financial Officer from 2018 through 2021.

The Board of Directors conducted a thorough search and review process before selecting Mr. Lowe as President and CEO. “John has deep knowledge of our business, customers, and industry and is a proven leader who has been a major contributor to the Company’s success,” said H. Sandford Riley, Chair of CPI’s Board of Directors. “We are very pleased to have an internal successor who can bring continuity, while also driving new business growth such as expanding into adjacent markets and product offerings, including digital opportunities, as the Company positions itself for the future.”

The Company also announced that Peggy O’Leary has been promoted to take on the role of Senior Vice President, Prepaid Solutions and Chief Development and Digital Officer, reporting to Lowe. O’Leary has been with CPI since 2017, most recently serving as Senior Vice President of Prepaid Solutions since late 2022, and Vice President of Sales of Prepaid, Personalization Solutions, and Instant Issuance from 2020 through 2022. She has played an integral role in driving the Company’s Prepaid growth and expansion into adjacent markets. Prior to joining CPI, O’Leary held a variety of roles at companies including Jingit, InteliSpend, Maritz, and Hallmark.

Scheirman announced in June 2023 his intention to retire in early 2024. He will serve as Senior Advisor to the Chief Executive Officer of the Company through his retirement date of February 28, 2024 and will work together with Lowe to ensure a smooth leadership transition. Scheirman has also stepped down from CPI’s Board of Directors, effective today.