Friday, November 21, 2014

Evertec Appoints New President and CEO

EVERTEC, Inc. 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.

Mr. Schuessler said his focus will be to build Evertec's position as a full-service transaction processor in Latin America and continue to grow the Company, while delivering increased value to customers and shareholders.

Schuessler has over 20 years of payment industry experience. He 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, Schuessler and his family will be relocating to San Juan, Puerto Rico.

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.


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