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Steve Streit founded the nation's largest prepaid card issuer and took it public during a long tenure as CEO. Now he's locked in a nasty fight to keep his job and defend his reputation.
May 13 -
The public spat between Green Dot and one of its largest shareholders is escalating even as the shareholder raises its stake in the prepaid card company.
April 13 -
Green Dot has named three new directors, ignoring the slate of nominees recently proposed by activist investor Harvest Capital Strategies.
April 12
Green Dot, the prepaid debit-card company, agreed to split the roles of chairman and chief executive officer.
Steven Streit is the current CEO, while an independent chairman will be named after the 2016 annual meeting, the Pasadena, California-based firm said Monday in a statement. The board also plans to appoint George Gresham as a director to satisfy the recommendation of proxy-advisory firm Glass Lewis & Co., according to the statement.
"We are taking decisive steps to further improve our corporate governance, demonstrating our accountability to stockholders and our willingness to take action," the board said in the statement.
