The San Jose point of sale terminal maker VeriFone Holdings Inc. said Eitan Raff, the chairman of Bank Leumi le-Israel BM, one of Israel's largest banking companies, will join its board Oct. 1.
Mr. Raff, whose election was announced Tuesday, will succeed Craig Bondy, a principal of the Chicago private-equity firm GTCR Golder Rauner LLC, who has sat on VeriFone's board since 2002.
Mr. Bondy's departure is part of a transition of ownership and control that has been under way since VeriFone went public in April 2005. GTCR still has one director on the board and owns about 13% of the terminal maker's outstanding common stock.
VeriFone bought Lipman Electronic Engineering Ltd of Rosh Haayin, Israel, in November for $795 million.
