Online Resources names new chief executive

CHANTILLY, Va. (AP) - The financial services company Online Resources Corp. said Tuesday it has named a veteran of the business software and services industry as its next CEO.

Joseph L. Cowan, formerly chief executive of Interwoven Inc. and Manugistics Group, will replace interim CEO John C. Dorman, who will continue to serve as chairman of the company's board. The transition is effective immediately, the company said.

Online Resources said Cowan is also joining its board and will stand for shareholder election next year.

The company's last permanent CEO, Matthew P. Lawlor, retired in December.