CPI Card Group Appoints Ravi Mallela to its Board of Directors

CPI Card Group Inc., a leading provider in payment technology and credit/debit/prepaid solutions, has announced the appointment of Ravi Mallela to its Board of Directors. Effective from Nov. 15, 2023, Mallela will serve as an independent member of the board and will also be part of the board’s Audit Committee.

Mallela is currently the chief financial officer of NMI Holdings Inc., a publicly traded mortgage insurance company. His previous positions include executive vice president and chief financial officer at First Hawaiian Group and First Hawaiian Bank from 2018 to 2022. Prior to that, Mallela served as senior vice president, head of finance and treasury at First Republic Bank from 2013 to 2018. He holds an MBA from the UCLA Anderson School of Management and a Bachelor of Science degree in Economics from the University of San Francisco.

H. Sanford Riley, Chair of the CPI Board of Directors, expressed his pleasure at Mallela joining the board, noting that his vast financial and business experience would be a valuable complement to the skills of the existing board members. Mallela’s addition is expected to assist the management team in driving long-term shareholder value.

Mallela conveyed his excitement about joining the board of CPI, acknowledging the company’s established leadership in the U.S. payments field. He looks forward to contributing to CPI’s future success. Following Mallela’s induction, CPI’s Board now consists of seven members, including six independent members.

Littleton, Colo.-based CPI Card Group is a payment technology company offering a wide range of credit, debit, prepaid solutions, and digital solutions.