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Issue Date: Vol. 52, No. 5, May 2012, Posted On: 5/2/2012

USA Technologies Appoints New Director; Moschner Is 7th Independent Board Member

Nick Montano
USA Technologies, vending machine business, cashless vending, vending machine technology, ePort, Albin F. Moschner, Stephen P. Herbert, electronic transactions

MALVERN, PA -- USA Technologies Inc. said it has appointed Albin F. Moschner to its board of directors. Moschner is ninth member on USAT's board, which has seven members who are designated "independent," as defined by Nasdaq regulations.

Moschner most recently was chief operating officer of Leap Wireless International Inc., which has 5.5 million customers. Previously, he was president of Verizon Card Services, where he managed Verizon Communications' prepaid and credit card businesses. Since 1996, he has served on the board of Wintrust Financial Corp. He also is a director of Cleveland Wireless and sits on the advisory board of the Kellogg School of Management.

USAT chairman and chief executive Stephen P. Herbert said, "In my letter to shareholders earlier this year, I expressed my intention to enhance corporate governance, a commitment that includes increasing board independence and sourcing the best and most talented directors for our board. We are delivering on those goals. Al is experienced in the boardroom and his appointment complements other additions we made to our board this year including Deborah Arnold, a former senior executive with Visa International who brings in-depth payment industry expertise, and Frank Petito, current president of Orbitz for Business who also brings operating experience, investment banking and investor relations expertise."

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