Passport Announces Strategic Realignment to Focus on Platform Scaling

Building on the momentum of a record-setting 2015, Passport, the leading provider of mobile payment software technology for parking and transit agencies, today announced a corporate realignment to fuel continued growth.

The following changes, are designed to pair key business units with the firm’s strategic expansion objectives:

• Bob Youakim, formerly Co-CEO, will now serve as the sole Chief Executive Officer
• Khristian Gutierrez, Chief Business Development Officer, has assumed direct responsibility over the company’s Marketing and Sales divisions
• Brad Powers, Chief Technology Officer, will continue to oversee the firm’s technology direction and development initiatives

“These moves simplify our corporate structure, enabling us to continue to fortify our strengths while simultaneously improving our ability to remain nimble and responsive to the shifting demands of a company operating at scale,” said Bob Youakim, CEO. “We are excited about the future and believe this strengthens our efforts in attracting and retaining talented employees to create the most advanced technology and mobile applications in our industry.”

The move will also provide more executive focus on three key strategic areas: platform enhancements, market expansion, and talent development.

“Our enterprise platform provides an effective solution to our clients’ key challenges. We’re committed to ensuring its continued evolution through significant investment and development based on our clients’ needs,” said Brad Powers, CTO. “Additionally, having a more streamlined organizational structure helps us respond faster in developing markets and ensure efficient allocation of resources to provide best-in-class client engagement across the board.”

About Passport

Passport is the industry-leading mobile payments company specializing in integrated urban mobility solutions. The company provides enterprise software platforms that offer parking, transit, and other government agencies a more effective and efficient way to manage their operations and serve their customers. Passport’s mobile payment systems are deployed in over 1,000 locations in 47 states and provinces across the US and Canada, with clients such as Chicago, Toronto, and Boston.

Headquartered in Charlotte, NC, Passport is backed by a highly respected group of investors, including Grotech Ventures and Relevance Capital. For more information, please visit www.gopassport.com