Verifone Inc. has promoted Joseph M. Zaelit to chief financial officer and vice president, finance and administration.

Mr. Zaelit had been vice president and corporate controller.

In a press release, the company said Mr. Zaelit succeeds Thomas W. Hubbs. Mr. Hubbs, who had been vice president and chief financial officer since 1987, was promoted to the new position of chief of staff.

Redwood City, Calif.-based Verifone said that Mr. Hubbs' new responsibilities will include formulation of corporate policy and strategy; evaluation of new business opportunities; representation in government and community affairs; internal affairs; and investor relations.

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