A veteran manager of enterprise software companies has been named the new president/CEO of online banking pioneer Online Resources Corp.
Joseph Cowan will take over immediately at the Chantilly, Va., provider of online banking and related services to approximately 2,000 financial institutions, including about 450 credit unions.
Cowan had been CEO of Interwoven, a publicly owned enterprise management software company in San Francisco, and of Manugistics Group, a publicly owned supply chain management software supplier in Rockville, Md.
Cowan succeeds John Dorman, who took over after Matthew Lawlor, co-founder the 21-year-old company, retired in December. Dorman will continue as board chairman, the company said.
"Joe has a history of guiding companies through challenging situations by implementing successful business strategies that accelerate competitiveness and reignite top-line growth," Dorman said. "We are very pleased to welcome him to Online Resources and are confident that he will be instrumental not only in driving revenue growth and profitability, but restoring predictability to our business model."
Cowan also has been president and CEO of EXE Technologies and held management positions at Invensys, Wonderware, Texas Instruments, Eurotherm Corp. and Monsanto. He holds engineering degrees from Auburn University and Arizona State.
"Online Resources has a history of providing its financial institution and biller clients with outstanding service and a world-class set of products. I am delighted to have the opportunity to build upon Online Resources' successes and expand its reach as a leading provider of financial technology services," Cowan said.