Hedge Fund Wins Three Seats On Online Resources Board

Published June 15, 2009, 5:10 p.m. EDT

Updated August 27, 2020, 12:37 a.m. EDT

1 Min Read

CHANTILLY, Va. – Online Resources Corp. announced that three representatives of Santa Monica-based hedge fund Tennenbaum Capital Partners, including John Dorman, the former CEO of Digital Insight, have won election to its ten-member board.

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The other Tennenbaum representatives are; Bruce Jaffe, a former chief financial officer at Microsoft; and Edward Horowitz, a former Citigroup executive.

Tennenbaum, which owns a 9.6% stake in Online Resources, said it has no current plans to force a sale of the company but wants to adopt a strategy to boost shareholder value.

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