Mr. Berger has served as a director of Tier since January 2002. Since April 2003, he has served as President and Chief Executive Officer of Nuance Communications, Inc., a publicly traded company that develops and markets speech recognition software. From December 2001 to December 2002, he was President and Chief Executive Officer of Vicinity Corporation, a publicly traded company providing location-based marketing services. Vicinity was acquired by Microsoft Corporation in December 2002. He has also served as the managing director of Volatilis, LLC, a private investment and aviation services firm, since its founding in June 2001. Prior to forming Volatilis, Mr. Berger served as Chairman and Chief Executive Officer of AdForce, Inc., an online advertising company, from July 1997 to June 2001. AdForce provided on-line advertising management and delivery services to publishers, completed an initial public offering in May 1999 and was acquired by CMGi, an Internet operating and development company, in January 2000. Previously, Mr. Berger served as Chairman and Chief Executive Officer of Radius, Inc., a maker of peripheral products for graphics and video applications, from 1993 to 1997. Prior to joining Radius, Mr. Berger was Senior Vice President for Worldwide Sales, Operations and Support at Claris Corporation, a developer of desktop-to-web information management software, from 1992 to 1993. Mr. Berger is also on the Board of Directors of Nuance Communications, Inc., Vicinity Corporation, Efficient Market Services and FreeFlyer, Inc. Mr. Berger received a B.S. from Bucknell University and an MBA from the University of Santa Clara.
Mr. Delucca was Executive Vice President and Chief Financial Officer of the REL Consultancy Group until his retirement in 2004. He previously served as Executive VP, Finance and Administration, and CFO of Coty Inc. from 1999 to 2002 and as Senior VP and Treasurer of RJR Nabisco Inc. from 1993 to 1998. Mr. Delucca also has served, among other positions, as Managing Director and CFO of Hascoe Associates, President and CFO of the Lexington Group, and Senior VP-Finance and Managing Director of The Trump Group. Mr. Delucca has served as a long-term instructor in the Seton Hall University graduate program, and as Adjunct Asst. Professor at Fordham University's Graduate School of Business Administration. He is a graduate of Bloomfield College, where he received a B.A. degree, and an M.B.A. in finance from Fairleigh Dickinson University.
Mr. Donoghue is a co-founder and Managing Partner of the Discovery Group, established in 2002. Mr. Donoghue was previously the Head of the Private Capital division of Piper Jaffray & Co. He continues to serve on several Investment Committees of Piper Jaffray's private institutional investment partnerships. Mr. Donoghue joined Piper Jaffray in 1997 to direct the Firm's investment banking activities in Chicago. He subsequently became co-head of the global Middle Market Mergers & Acquisitions Group. Earlier in his career, Mr. Donoghue was Executive Vice President of Duff & Phelps, an investment management and research firm. His 25 years in corporate finance also includes investment banking with William Blair & Company and public accounting with Peat, Marwick, Mitchell & Co.
Mr. Donoghue has provided expert testimony before the U.S. Congress and the Securities and Exchange Commission. He served as a member of the Financial Accounting Standards Advisory Council. Mr. Donoghue graduated summa cum laude from Boston College and received a Master of Business Administration degree from the University of Chicago Graduate School of Business. He is a Certified Public Accountant and Chartered Financial Analyst. Mr. Donoghue is a member of the National Association of Corporate Directors and has been awarded its Certificate of Director Education.
Mr. Guenther has served as a director of Tier since August 1999. Since February 2003, Mr. Guenther has acted as a private consultant to technology companies. From October 2001 through January 2003, Mr. Guenther served as President of TiVo, Inc., a publicly traded technology firm specializing in the delivery of digital video recording television services. From June 1999 through October 2001, Mr. Guenther served as Vice President of Business Development and Senior Vice President of Business Development and Revenue Operations at TiVo. From August 1998 to June 1999, Mr. Guenther was a partner at Paul, Hastings, Janofsky & Walker LLP, an international law firm. Mr. Guenther is also on the Board of Directors of Integral Development Corp., a software developer providing e-commerce solutions for capital market transactions to banks and other financial institutions. Mr. Guenther holds a B.A. and a J.D. from the University of Colorado and an MBA from the University of San Francisco.
Philip Heasley is president and CEO of ACI Worldwide, Inc. (ACI). He is a 32-year veteran of payment systems and financial services. Prior to joining ACI in March 2005, Mr. Heasley was chairman and CEO of Paypower LLC. From 2000 to 2003, he was chairman and CEO of First USA Bank, the credit card subsidiary of Bank One. Before joining First USA, Mr. Heasley spent 13 years in executive positions at U.S. Bancorp, including six years as vice chairman and the last two years as president and chief operating officer. Prior to joining U.S. Bancorp, Mr. Heasley spent 13 years at Citicorp, including three years as chief operating officer of Diners Club, Inc.
Mr. Heasley is a member of the board of directors of ACI, Fidelity National Title Group, Kintera Inc., and Public Radio International. He served as chairman of the board of Visa USA from 1996 until November 2003 and was a member of the board of Visa International during the same period. In addition, he has previously served on the boards of Ohio Casualty Corporation, Fair Isaac Corporation, The Schwan Food Company, Inc., AIG SunAmerica, Cray Inc. and Minnesota Seed Capital. Mr. Heasley serves or has served as an advisor to FT Ventures and MidOcean Partners and is an active supporter of Catholic Charities USA, The Minnesota Opera, the Walker Art Center, and the Science Museum of Minnesota.
Mr. Heasley holds a B.A. from Marist College in Poughkeepsie, New York, and an MBA from the Bernard Baruch Graduate School of Business in New York. A native of Nissequogue, New York, he was one of nine children. Mr. Heasley and his wife have two daughters and reside principally in Naples, Florida.
Mr. Murphy is a co-founder and Managing Partner of the Discovery Group, established in 2002. Mr. Murphy was previously the Director of Public Equities in the Private Capital division of Piper Jaffray & Co. He continues to serve on several Investment Committees of Piper Jaffray's private institutional investment partnerships. Mr. Murphy joined Piper Jaffray in 1997 as a senior member of the Firm's global Middle Market Mergers & Acquisitions Group, leading numerous public and private company transactions. He was appointed to the Firm's Valuation and Fairness Opinion Council. Mr. Murphy previously worked as a Vice President in investment banking with J.P. Morgan & Co. and as a Vice President in the Corporate Finance Group at Waterhouse LLP. Prior to investment banking, he worked for several years as a management consultant.
Mr. Murphy graduated with highest honors from the University of Illinois with a bachelor degree in engineering and received a Master of Business Administration degree from the University of Chicago Graduate School of Business. Mr. Murphy is a member of the National Association of Corporate Directors and has been awarded its Certificate of Director Education.
A leading expert in the payments industry, David is a Director of Edgar, Dunn & Company, and is based in San Francisco. Since1980 David has served EDC clients in North America and Europe throughout the payments value chain on strategic issues such as product and portfolio profitability, credit and fraud risk management, market and channel optimization, process improvement, and new product development. He co-developed the firm's London office in the early '90s and served financial services clients throughout Europe until his return to the US in 1998. While in Europe he became involved in many of the payment industry new product and technology initiatives there, and since his return to the US has been involved in developing and assessing many new payment product initiatives in the North American market including e-commerce payment solutions and mobile payment and prepaid card options. David co-chairs the Risk Manager's Roundtable, a forum for the leading credit card issuers in the United States and also chairs the newly formed Debit Card Roundtable.
He holds a BS degree with honors from the University of Idaho, an MBA from Northwestern University's Kellogg Graduate School of Management, and a Leadership in Professional Services Firms certificate from Harvard University's Graduate School of Business.
David has been a frequent author and speaker for various financial services industry magazines and forums. He is on the Board of Directors of two companies that supply technology products and services to the payments industry and is also on the Advisory Board of a San Francisco-based bank.
Chair of the Data Security Committee
Ronald L. Rossetti
Chief Executive Officer and Chairman
Mr. Rossetti has served as a director of Tier since November 1995. Since February 1997, he has served as President of Riverside Capital Partners, Inc., a venture capital investment firm. Since 1997, Mr. Rossetti has also been a general partner in several real estate limited liability companies, all commonly controlled by Riverside Capital Holdings. Mr. Rossetti was a certified public accountant with the Boston office of Coopers & Lybrand (now PricewaterhouseCoopers LLP) from 1966 through 1972. Mr. Rossetti is on the Board of Horizon Natural Resources, the advisory board of Hamilton Associates and serves as a trustee of Northeastern University. He received a B.S. from Northeastern University.
Zach Sadek joined Parthenon Capital in 2004 in the firm's Boston Office. He is active in sourcing and executing new transactions and working with current portfolio companies with a focus in Business, Government and Financial Services, Education and Route-Based Distribution. Mr. Sadek serves on the Board of Directors of Restaurant Technologies, Inc. and Tier Technologies, Inc. (NASDAQ: Tier). Prior to joining Parthenon Capital, Mr. Sadek worked in investment banking at Dresdner Kleinwort Wasserstein in Chicago as an analyst specializing in mergers and acquisitions. While at DrKW, he analyzed and executed a variety of strategic transactions including merger advisory, financing and restructuring assignments. Mr. Sadek attended the University of Chicago where he earned a Bachelor's Degree in History (with honors) and a Master's Degree in the Social Sciences.
Board of Directors
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Mr. Rossetti has served as a director of Tier since November 1995. Since February 1997, he has served as President of Riverside Capital Partners, Inc., a venture capital investment firm. Since 1997, Mr. Rossetti has also been a general partner in several real estate limited liability companies, all commonly controlled by Riverside Capital Holdings. Mr. Rossetti was a certified public accountant with the Boston office of Coopers & Lybrand (now PricewaterhouseCoopers LLP) from 1966 through 1972. Mr. Rossetti is on the Board of Horizon Natural Resources, the advisory board of Hamilton Associates and serves as a trustee of Northeastern University. He received a B.S. from Northeastern University.
