New Haven’s Higher One Holdings Inc. is seeking a new CEO as the digital payment provider shakes up its top management, it announced.
Co-founder and CEO Mark Volchek will remain on as CEO during the search, with plans to assume the role of president when co-founder Miles Lasater steps down on Jan. 9.
The company said Lasater is reducing his involvement in the company for personal reasons. He will continue to hold the role of board chairman until the company’s next annual meeting, and will work on projects on a part-time basis.
Volchek, who was formerly CFO, replaced former CEO Dean Hatton when he retired in 2012. At the same time, Lasater was promoted from chief operations officer to president and chairman.
“Bringing in a new CEO who has managed a company at the scale we have now achieved will bring a new level of excellence to our leadership, operations and responsiveness to today’s regulatory environment,” Volchek said in a statement.
Higher One provides its services to more than 1,600 colleges and approximately 13 million students.
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