Green Dot’s Henry Gone as the Prepaid Card Provider Appoints CFO as New CEO and President

Dan R. Henry, who took over as chief executive and president, from Green Dot Corp. founder Steven Streit in March 2020, is out. Green Dot announced Monday Henry, who previously held executive positions at Euronet Worldwide and Netspend, was “terminated” Oct. 14. That’s when Austin, Texas-based Green Dot named George Gresham, its chief financial and operating officer since Oct. 2021, to the chief executive and president roles.

In a statement, a Green Dot spokesperson said it appreciated Henry’s work during a critical time for the company. “Green Dot and its transformation into a modern financial services company and technology platform present complex challenges and circumstances requiring deep operational expertise and stewardship,” the statement said. “The Board determined George’s experience, knowledge and approach are very well suited for the CEO position and its related responsibilities. We appreciate the foundation that Dan laid during a critical time of transition for the company and thank him for his contributions.”

Henry’s biography was still available on the Green Dot management Web page. Gresham’s biography on the page lists his titles as director, CEO, chief operation officer, and chief financial officer.

Like Henry, Gresham worked at Netspend and held positions at Global Cash Access and eFunds Corp. Green Dot praised Gresham’s expertise—he also is a member of the Green Dot board of directors—as he assumes these new roles. “The Board is confident that George is the right person to lead Green Dot through its next phase of growth, and we are grateful to have a proven leader of George’s caliber and experience to step into the role of Chief Executive,” William I. Jacobs, chairman of the board of directors, said in a statement. Jacobs served as interim chief executive until Henry’s appointment in March 2020.

Henry succeeded Streit after the Green Dot founder announced his retirement in 2019.

Under Henry’s tenure, Green Dot has expanded its banking services as well as bolstering its prepaid products. In March, Green Dot completed an integration for its GO2bank mobile banking app with the Plaid Exchange network from Plaid Inc. The move will connect users of Green Dot’s app, launched only in January last year, to more than 6,000 other apps and services, the companies said.

In June 2021, Green Dot modified the Walmart MoneyCard, which is issued by Green Dot Bank, so it can function as a demand-deposit account. Services now available on the card include cash back, overdraft protection up to $200, direct deposit, and the ability to earn interest on savings, the companies said, while adding that other features can also be accessed.

In trading early Monday, Green Dot’s stock was at $18.87, down 3.4% from its Friday close of $19.52.