Pay By Touch CEO John Rogers has an addiction problem. And we're not talking about his cocaine habit, which multiple sources confirm often kept the convicted felon out of the office for days at a time. During his rocky tenure at the top of the company, Rogers had a bad habit of milling through new CEOs and CFOs.
Since Pay By Touch launched in 2003, its chief financial officers have included Gus Spanos, son of San Diego Chargers' president Dean Spanos; David Siminoff from Capital Research; Larry Lowry from McKinsey; Davies Beller from Bear Stearns; and John Costello from Home Depot. Pay By Touch's current CFO, Robert Sigler, works for one of the company's biggest hedge-fund investors. Former Pay By Touch CEOs include founding CEO Brian Miller and Craig Ramsey, a former top executive at Siebel Systems.
All of this raises the question: Have any of these high-powered executives heard of the telephone? You know, that device with which you dial the previous occupant of a job and ask if there's anything you should be concerned about?