New Haven’s Higher One Holdings Inc. says its chief executive officer will retire by summer, and will be succeeded by a co-founder of the on-campus electronic-payments vendor.
CEO Dean Hatton will retire on or before June 30 after a decade at the helm but will remain on the board, the company said Friday.
Meantime, Higher One’s board has annointed co-founder Mark Volchek, currently both board chairman and chief financial officer, to succeed him.
As part of its executive transition, Higher One named Miles Lasater, another co-founder who is chief operations officer, president until Higher One’s 2012 annual meeting, at which time the company says the board intends to elect Lasater chairman.
The move is meant to separate the chairman’s and CEO’s duties, Higher One said.
A search also will get underway for a new finance chief.
The former startup that went public in 2010 provides its financial services to more than 770 college campuses with an enrollment of more than 5.8 million students.
