Blucora Appoints Two New Independent Directors
February 28 2017 - 04:15PM
Blucora, Inc. (NASDAQ:BCOR), a leading provider of
technology-enabled financial solutions to consumers, small
businesses and tax professionals, today announced that it has
appointed William L. Atwell and H. McIntyre “Mac” Gardner to its
Board of Directors, effective March 1, at which time Mr. Atwell
will also become Chairman of the Board. These appointments are
designed to evolve the Blucora Board to support its previously
announced transition to a technology enabled financial solutions
company. These additions follow the decisions by John E. Cunningham
IV, Blucora’s Chairman, and David H.S. Chung to retire from the
Board.
Mr. Atwell has more than 40 years of financial services
experience from his executive positions at CIGNA, The Charles
Schwab Corporation and Citigroup. He most recently served as
President of CIGNA’s International business before retiring in 2012
to run his own financial services consulting firm, Atwell Partners
LLC.
Mr. Gardner brings decades of leadership and operating
experience in the wealth and consumer products industries, having
most recently served as the Head of Americas Region and Global Bank
Group, Global Private Client at Merrill Lynch.
John S. Clendening, Blucora’s President and Chief Executive
Officer, said, “We are pleased to welcome both Bill and Mac to the
Board. As we enter the final phase of our multi-stage transition to
a technology-enabled financial solutions company, we are delighted
to have identified two new members who are perfectly suited to help
us advance our strategic transformation. Bill’s track record of
growing customer satisfaction and leading global financial service
companies, together with Mac’s consumer product and wealth
management expertise, make them a perfect fit for the new Blucora.
The Board and I look forward to working with Bill and Mac to build
upon the Company’s financial and operational strengths.”
Clendening continued, “On behalf of the Board, I thank John and
David for their service, leadership and countless contributions to
the Company. John and David played an important role in the
successful evolution of Blucora and we wish them the best.”
“This is an exciting time for the Company,” said Mr. Atwell,
“and I am eager to begin collaborating with the other members of
the Board to enhance value for Blucora stockholders. Blucora has
made significant progress on its strategic transformation and, as
Chairman, I will focus on ensuring that Blucora achieves its full
potential.”
“I am honored to have served as Chairman and lead independent
director of Blucora,” said Mr. Cunningham. “Working closely with
the talented management team and Board, we helped grow the Company
and position its two strong businesses in attractive markets. I am
confident that Blucora will continue to thrive and drive long-term
stockholder value.”
Following today’s appointments, the Blucora Board will be
comprised of nine directors, eight of whom are independent, and
four of whom joined the Board within the last three years.
About William L. AtwellWilliam L. “Bill” Atwell
is a Managing Director at Atwell Partners, LLC. Mr. Atwell retired
as President of Cigna International in May 2012, where he was
responsible for Cigna’s global business unit delivering access to
superior quality healthcare and innovative financial protection
programs to businesses, affinity groups and individuals around the
world. He also served for four years as Senior Vice President at
CIGNA Healthcare, responsible for sales and health plan operations
in the United States. Before being named President of CIGNA
International, Mr. Atwell provided consulting and market insights
to the financial services industry while also serving on the Boards
of USI Holdings Corporation and Fairfield University. Prior to
that, he was President/EVP with The Charles Schwab Corporation,
responsible for a broad array of individual investment and banking
products. Mr. Atwell spent twenty three years with Citibank where
he led the company’s retail business in Belgium, France and
Luxembourg. Previously, he was CEO of Citibank (Illinois) and
Citibank (NYS). Mr. Atwell is a graduate of C.W. Post College and
earned an M.B.A. from Long Island University. Currently, he serves
on the Board of Directors of Webster Financial Coporation
(NYSE:WBS) and as an Independent Trustee of AQR Mutal Funds (AQR
Capital Management LLC).
About H. McIntyre GarderH. McIntyre “Mac”
Gardner most recently served as the Head of Americas Region and
Global Bank Group, Global Private Client at Merrill Lynch. Prior to
joining Merrill Lynch in 2000, Mr. Gardner was the President and
Chief Operating Officer of Helen of Troy Limited, a personal care
products manufacturer. Mr. Gardner began his career with Merrill
Lynch in 1983 in the Corporate and Institutional Client Group (now
Global Markets & Investment Banking), as a Financial Analyst in
Corporate Finance and Mergers and Acquisitions. Mr. Gardner earned
a Bachelor of Arts degree in religion from Dartmouth College in
1983.
About Blucora®Blucora, Inc. (NASDAQ:BCOR) is a
leading provider of technology-enabled financial solutions to
consumers, small businesses and tax professionals. Our products and
services in tax preparation and wealth management, through TaxAct
and HD Vest, help consumers manage their financial lives. TaxAct is
an affordable digital tax preparation solution for individuals,
business owners and tax professionals. HD Vest Financial Services ®
supports an independent network of tax professionals who provide
comprehensive financial planning solutions. For more information on
Blucora or its businesses, please visit www.blucora.com.
Forward-Looking Statements This release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Actual results may differ significantly from
those projected. The words "believe," "expect," "intend,"
"anticipate," variations of such words, and similar expressions
identify forward-looking statements, but their absence does not
mean that the statement is not forward looking. These statements
are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Factors that could affect Blucora's actual results
include the successful execution of the Company's strategic
initiatives, operating plans, and marketing strategies, general
economic, industry and market sector conditions, the progress and
costs of the development of our products and services, the timing
and extent of market acceptance of those products and services, and
our dependence on companies to distribute our products and
services. A more detailed description of certain factors that could
affect actual results include, but are not limited to, those
discussed in Blucora's most recent Annual Report on Form
10-K and quarterly reports on form 10-Q as filed from time to time,
in the section entitled "Risk Factors." Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this
release. Blucora undertakes no obligation to update
publicly any forward-looking statements to reflect new information,
events or circumstances after the date of this release or to
reflect the occurrence of unanticipated events.
Contact:
Stacy Ybarra
425-709-8127
Blucora, Inc.
stacy.ybarra@blucora.com
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