Original Founder Stephen Johnson Returns to Helm Directo

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New leadership aims to build upon paycard pioneer's positive growth

Experiencing strong growth and bucking national trends, Directo remains a stable beacon that employers and cardholders have trusted for more than a decade within the paycard industry.

Continuing its progress, Directo is now ready to strengthen its place in the market with original founder and chairman of the board of directors Stephen Johnson taking the reins as CEO.

"I am excited to return to Directo at this new growth stage," Johnson says. "As the founder of this company I have always believed in the potential of serving our customers and maintained that focus while serving on the board of directors. Stepping into the CEO shoes is another avenue to helping Directo reach its next level."

A pioneer of the internet banking industry, Johnson is currently chairman and founder of T. Stephen Johnson and Associates. He has served as chairman of Bank of Atlanta, former director of Avenue Bank in Nashville, Tenn., director of NHB Holdings in Salt Lake City, Utah, and a member of the Board of Trustees for the Georgia Tech College of Management. In 1993, Mr. Johnson raised $100 million and incorporated the Southeast Bank Fund, Inc. to invest in Southeastern commercial banks and thrifts. More recently, Johnson raised more than $40 million with an additional $400 million invested for the North American Bank Fund, which invests in community banks across the nation.

As a company Directo has remained steady and experienced growth even under our current economic conditions. For the first quarter of 2010, Directo is almost 20 percent ahead of 2009 in new accounts.

"Former CEO Bob Howe has nurtured the company into the successful environment that exists today," Johnson said. "He has been an admirable leader for the company and as he exits to pursue other endeavors we wish him nothing but the best."

"We now turn to the future though," Johnson adds." Directo has remained a consistent force in the industry because we have such a solid product and system. Potential for what the future holds for Directo is an exciting journey to be piloting."

About Directo: As the industry's customer-service leader, paycard pioneer Directo maximizes a company's distribution of payments while minimizing risks and costs. Directo helps companies pay their people worldwide through a simple, automatic, fast, and economical ACH-secure system. Employers will eliminate the expense and hassle associated with paper checks, streamline their unique payments programs, and meet green initiatives. Carrying no check cashing fees and the security of a FDIC-insured account, Directo's debit card solutions allow employees the convenience of ATMs, purchasing power in stores, and online bill pay. With Directo, everyone can receive direct deposit.


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Jeffrey Willis
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