Morgan Schuessler to Succeed Peter Harrington, Effective January 1, 2015
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
EVERTEC, Inc. (NYSE: EVTC) (“EVERTEC” or the “Company”) today announced
the appointment of Morgan "Mac" Schuessler as President and Chief
Executive Officer, and Member of the Board of Directors, effective
January 1, 2015. Mr. Schuessler will join EVERTEC after having served as
President of International at Global Payments, Inc., overseeing
businesses in 23 countries throughout Europe and Asia. Mr. Schuessler
will succeed Peter Harrington, who will depart the Company at the end of
the year for personal reasons.
Frank D’Angelo, Chairman of the Board, said, “On behalf of the entire
Board of EVERTEC, I am delighted to welcome Mac Schuessler as our new
CEO. Mac’s leadership of a multinational payments business, and his
track record of successfully identifying and capitalizing on growth
opportunities in current and new markets, will serve EVERTEC, our
clients and our shareholders well. Mac’s experience and management
skills make him an excellent choice to build on EVERTEC’s leadership in
the growing and attractive Caribbean and Latin American financial
services and payments markets, and set the course for the Company’s next
stage of growth.”
Mr. D’Angelo added, “On behalf of the Board, I want to thank Peter for
his dedication and partnership these past years as he led EVERTEC to
become a successful public company. As he leaves us with a business that
spans over 19 markets in the region, we wish Peter the very best in his
future endeavors.”
Peter Harrington commented, “I am grateful to have worked with the
talented and dedicated people of EVERTEC, and proud of what we have
accomplished since taking the Company public. Given the solid base we
have built, I believe EVERTEC can achieve even greater success in the
future.”
Commenting on his appointment, Mr. Schuessler said, “I am honored to
have been selected to lead EVERTEC. The Company has built a truly unique
business as the foremost full-service transaction processor in Latin
America, where considerable opportunities exist. Our focus will be to
build upon this position, and continue to grow the Company, while
delivering increased value to both our customers and shareholders. I
look forward to working with the employees, executive team and Board of
EVERTEC to achieve these goals.”
Additional Information Regarding Morgan "Mac" Schuessler
Mac has over 20 years of payment industry experience. Mac will join
EVERTEC after having served as President of International for Global
Payments, one of the world's leading payment processing providers,
overseeing the company’s international businesses, which encompass more
than a third of its employees. In his new role at EVERTEC, Mac and his
family will be relocating to San Juan, Puerto Rico.
From 2008-2012, Mac served as Global Payment’s Executive Vice President
and Chief Administrative Officer with responsibility for the company's
global operations, human resources, corporate marketing and
communications, real estate services and the money transfer business. In
this position, he led the implementation of the worldwide credit and
risk function, and the creation of the company's first global operations
center in Manila, Philippines.
Prior to joining Global Payments, Mr. Schuessler served in several
leadership positions with American Express, Inc. including Vice
President, Global Purchasing Solutions with responsibility for managing
the company's purchasing card business globally. Additionally, he served
in various sales, marketing, strategy and product management positions.
Mr. Schuessler is a member of Visa's Senior Client Council and the
UnionPay International Member Council, the international division of
China UnionPay (CUP). He holds a bachelor's degree from New York
University and an MBA from Emory University's Goizueta Business School
where he currently serves on the Executive Committee of the Dean's
Advisory Board.
Mr. Schuessler’s agreement with Global Payments contains certain
restrictions on Mr. Schuessler for a two-year period after termination
of his employment, including a restriction from competing with Global
Payments within the United States. EVERTEC does not believe that this
restriction prohibits Mr. Schuessler from joining the Company, which is
based in Puerto Rico, or performing services under the employment
agreement he has entered into with EVERTEC. EVERTEC intends to file
today an action in the San Juan Superior Court seeking a declaratory
judgment to that effect. EVERTEC has agreed to indemnify Mr. Schuessler
for certain associated expenses and damages, including certain lost
compensation.
About EVERTEC
EVERTEC, Inc. (NYSE: EVTC) is the leading full-service transaction
processing business in Latin America, providing a broad range of
merchant acquiring, payment processing and business solutions services.
The largest merchant acquirer in the Caribbean and Central America—and
one of the largest in Latin America—EVERTEC serves 19 countries in the
region from its base in Puerto Rico. The Company manages a system of
electronic payment networks that process more than 2.1 billion
transactions annually, and offers a comprehensive suite of services for
core bank processing, cash processing and technology outsourcing. In
addition, EVERTEC owns and operates the ATH network, one of the leading
personal identification number (“PIN”) debit networks in Latin America.
The Company serves a diversified customer base of leading financial
institutions, merchants, corporations and government agencies with
“mission-critical” technology solutions. For more information, visit www.evertecinc.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements” within the meaning of, and subject to the protection of, the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties, and other
factors that may cause the actual results, performance or achievements
of EVERTEC to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Statements preceded by, followed by, or that otherwise
include the words “believes,” “expects,” “anticipates,” “intends,”
“projects,” “estimates,” and “plans” and similar expressions of future
or conditional verbs such as “will,” “should,” “may,” and “could” are
generally forward-looking in nature and not historical facts. Any
statements that refer to expectations or other characterizations of
future events, circumstances or results are forward-looking statements.
Various factors that could cause actual future results and other future
events to differ materially from those estimated by management include,
but are not limited to, uncertainties in the way Mr. Schuessler’s
restrictive covenants with his current employer, or other provisions in
his employment agreement with his current employer, may be interpreted
by a court. Consideration should also be given to the risks set forth
under the headings “Forward-Looking Statements” and “Risk Factors” in
the reports the Company files with the SEC from time to time, in
connection with considering any forward-looking statements that may be
made by the Company and its businesses generally. We undertake no
obligation to release publicly any revisions to any forward-looking
statements, to report events or to report the occurrence of
unanticipated events unless we are required to do so by law.
For EVERTEC, Inc.
Investor and Media
Alan I. Cohen,
787-773-5302
Executive Vice President
Investor Relations
IR@evertecinc.com
Source: EVERTEC, Inc.