Certegy Inc. Accepts Resignation of Board Member Robert H. Bohannon
ALPHARETTA, Ga., Nov. 11 /PRNewswire-FirstCall/ -- Certegy Inc. , a leading
global provider of payment services to retailers and financial institutions,
today announced the resignation of board member Robert H. Bohannon, effective
November 7, 2003. Mr. Bohannon, who has served on Certegy's board since June
2001, chaired the Company's Nominating and Corporate Governance Committee, and
was a member of the Compensation and Human Resources Committee.
Mr. Bohannon is chairman, president and chief executive officer of Viad Corp
(NYSE:VVI). Earlier this year, Viad announced plans to spin off its Payment
Services business, Travelers Express Company Inc., from the remaining Viad
businesses. Given the demands on Mr. Bohannon's time in connection with these
recent developments, he did not believe that he could devote the requisite
amount of attention and time to continue serving as a Certegy board member. In
addition, Travelers Express and Certegy provide complementary products in a
changing payment services environment. To avoid any appearance of impropriety,
Certegy and Mr. Bohannon decided that it would be in the best interests of their
respective shareholders that he resign from Certegy's Board to enable Travelers
Express and Certegy to explore business opportunities in the future.
"Bob has been an outstanding board member, and has provided tremendous
leadership and guidance since Certegy's inception as a public company," stated
Lee Kennedy, chairman, president and CEO of Certegy. "We extend our sincere
thanks for his dedication and service." "I have enjoyed serving as a member of Certegy's board," commented Mr. Bohannon. "Certegy is a terrific company with a great management team and a promising
future." About Viad Corp Viad (NYSE:VVI) is a $1.6 billion revenue, S&P MidCap company. Major
subsidiaries include Travelers Express/MoneyGram of Minneapolis, GES Exposition
Services of Las Vegas and Exhibitgroup/Giltspur of Chicago. For more
information, visit the company's web site at http://www.viad.com/ .
About Certegy Inc.
Certegy (NYSE:CEY) provides credit and debit processing, check risk management
and check cashing services, and merchant processing and e-banking to over 6,000
financial institutions, 117,000 retailers and 100 million consumers worldwide. Headquartered in Alpharetta, Georgia, Certegy maintains a strong global presence
with operations in the United States, United Kingdom, Ireland, France, Chile,
Brazil, Australia and New Zealand. As a leading payment services provider,
Certegy offers a comprehensive range of transaction processing services, check
risk management solutions and integrated customer support programs that
facilitate the exchange of business and consumer payments. Certegy generated
over $1.0 billion in revenue in 2002. For more information on Certegy, please
visit http://www.certegy.com/ .
The statements in this release include forward-looking statements that are based
on current expectations, assumptions, estimates, and projections about Certegy
and our industry. They are not guarantees of future performance and are subject
to risks and uncertainties, many of which are outside of Certegy's control, that
may cause actual results to differ significantly from what is expressed in those
statements. The factors that could, either individually or in the aggregate,
affect our performance include the following, which are described in greater
detail in the section entitled "Risk Factors" in our Registration Statement on
Form S-4 filed on September 26, 2003 with the SEC: Our reliance on a small
number of financial industries for the majority of our revenues; our reliance on
key strategic relationships; the necessity to maintain qualifications set by
bank card associations in order to continue to provide transaction processing
services; potential liability when merchant customers cannot or do not reimburse
us for chargebacks resolved in favor of cardholders, or when checks we warrant
are dishonored by the check writer's bank; potential loss of customers from
continued consolidation in the financial services and in retail industries;
changes in regulation or industry standards applicable to our businesses or
those of our customers; the level of economic growth or other factors affecting
demand for our products and services; ability to maintain or improve our
competitive positions against current and potential competitors; database
security and reliability of our information technology systems; risks associated
with investments and operations in foreign countries, including exchange rate
fluctuations and local political, social, and economic factors, and those other
risks listed in the above-referenced section of our Form S-4. DATASOURCE: Certegy Inc.
CONTACT: Mary Waggoner, VP - Investor and Public Relations of Certegy Inc., +1-678-867-8004 Web site: http://www.certegy.com/ http://www.viad.com/
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