Management ChangeMay 19, 2026, 04:38 PM
AppTech Payments Appoints Robert Lipstein to Board; Names Executive Chairman
AI Summary
AppTech Payments Corp. announced several executive leadership and governance changes. Albert L. Lord was designated Executive Chairman, transitioning from an independent director role and stepping down from the Compensation Committee. The company also formalized employment arrangements for CEO Thomas DeRosa and COO Anthony Shall, with annual base salaries of $384,000 and $240,000, respectively. Additionally, Robert J. Lipstein, a retired KPMG partner, was appointed as an independent Class II director and Chairman of the Audit Committee, bringing significant financial and regulatory experience to the Board.
Key Highlights
- Albert L. Lord designated Executive Chairman, no longer an independent director.
- Mr. Lord stepped down from the Compensation Committee.
- Thomas DeRosa's employment as CEO formalized with an annual base salary of $384,000.
- Anthony Shall's employment as COO formalized with an annual base salary of $240,000.
- Robert J. Lipstein appointed as an independent Class II director.
- Mr. Lipstein also appointed Chairman of the Audit Committee.
- Mr. Lipstein is a retired KPMG partner with extensive financial services and regulatory expertise.
Price Impact
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