SAN DIEGO, CA--(Marketwire - Feb 12, 2013) - BillMyParents, Inc. (OTCQB: BMPI) -- the Responsible Teen Spending Company -- announced today that Kim Petry has joined the Company. Ms. Petry will be appointed as its new Chief Financial Officer mid to late February 2013, at which point she will replace Jonathan Shultz. Mr. Shultz will continue to serve as CFO until the appointment. Ms. Petry is a CPA and senior level executive with proven success in increasing profit margins, solid financial management, business leadership and strategic partnering with the board of directors, legal, compliance, auditors and regulators.
Ms. Petry was most recently CFO and Vice President, Global Commercial/Corporate Card Payment with American Express where she led a team of over 150 finance professionals globally, supporting a business with over $4 billion in revenue. Prior to American Express, she was Vice President of Corporate Finance, Planning and Analysis and Business Finance and Analysis with TIAA-CREF where she led over 140 professionals across the U.S. and was responsible for reporting, budgeting, forecasting, strategy, long-term planning, new product development, mergers and acquisitions. Ms. Petry served as Managing Director of Finance at US Trust Corporation/Schwab Corporation for five years in several executive roles following her prior experience working as an Audit Manager in Financial Services at PricewaterhouseCoopers. She earned her MBA in Finance and International Business from New York University and her BA with a major in accounting, graduating summa cum laude, from Adelphi University.
"Kim is a top notch financial services industry CFO. The skills and knowledge she brings to BillMyParents will help us structure a corporate financial architecture to support rapid growth both for our card processing and for our own internal and external reporting as a public company. We are pleased to have her on our team," stated BillMyParents CEO and Chairman, Mike McCoy.
The Company would also like to thank Mr. Shultz for all of his service to the organization.
For more information, please visit: www.BillMyParents.com
BillMyParents, Inc. (OTCQB: BMPI), the Responsible Teen Spending Company, offers a solution for parents who want to help their teens develop smart spending habits. The BillMyParents SpendSmart MasterCard card is the instantly trackable, reloadable MasterCard prepaid card that lets parents and teens track spending in real time. Features include the ability to instantly lock, unlock and reload the card at any time; text alerts to parents and teens showing real-time transaction details with each purchase; and the freedom and security of a MasterCard prepaid card without the risk of overdrafts, accruing debt or affecting credit scores. BillMyParents provides parents with a modern way to help teach their teens financial responsibility, when it counts. For more information, please visit www.BillMyParents.com.
The SpendSmart Prepaid MasterCard card is issued by University National Bank, member FDIC. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.