Dun & Bradstreet Announces Leadership Transition
February 12 2018 - 4:16PM
Business Wire
- Thomas Manning Appointed Chairman and
interim CEO
- Robert Carrigan Steps Down as Chairman
and CEO
- Board Initiates Search for Permanent
CEO
Dun & Bradstreet (NYSE:DNB), the global leader in commercial
information growing the most valuable relationships in business
through data, today announced that Thomas Manning, a director of
the Company since 2013 and Lead Director since 2016, has been
appointed Chairman of the Board and interim Chief Executive
Officer, effective immediately. Mr. Manning’s appointment follows
Robert Carrigan’s decision to step down as Chairman of the Board,
Chief Executive Officer, and as a director of the Company, by
mutual agreement with the Dun & Bradstreet Board of Directors.
Mr. Carrigan will be available as requested by the Board and
management team to assist with the transition process.
The Board will commence a new search for a permanent CEO, with
the assistance of an executive search firm. The CEO search process
will be led by the Nominating & Governance Committee of the
Board of Directors.
James Fernandez, new Lead Director of the Board, said, “As Dun
& Bradstreet continues its work to drive sustainable growth,
the Board believes now is the right time to transition the
Company’s leadership. We are pleased to have a leader of Tom’s
caliber and experience to step in as interim CEO. The Board will
continue to support the Company, and lend our expertise to the
organization and Tom during this transition period as we conduct
our search for a permanent successor.”
Mr. Manning said, “I look forward to working with the Board and
the rest of the management team to ensure we capitalize on the
opportunities in the marketplace and enhance value for our
customers and for our shareholders. We are thankful for Bob’s
contributions to Dun & Bradstreet since joining the Company as
CEO in 2013. The Board believes that this is a time of great
opportunity for Dun & Bradstreet. On behalf of the entire Dun
& Bradstreet team, we wish Bob the best in his future
endeavors.”
Separately today, Dun & Bradstreet issued its fourth quarter
and full year 2017 financial results.
About Thomas Manning
Mr. Manning was appointed Lead Director of the Dun &
Bradstreet Board of Directors and Chairman of the Nominating &
Governance Committee in 2016 and has served as a member of the
Audit Committee and Innovation & Technology Committee since
joining the board in 2013.
He is a former global operating executive who served as the CEO
of Cerberus Asia Operations & Advisory Limited, a subsidiary of
Cerberus Capital Management, CEO of Capgemini Asia, a leading
information technology services company, and CEO of Ernst &
Young Consulting Asia. He was also a senior partner with corporate
strategy firm Bain & Company where he led the global IT
practice in Silicon Valley and Asia.
Mr. Manning currently serves on the boards of CommScope Holding
Company, Inc. and Clear Media Limited. He previously served as a
director of four public companies: iSoftStone Holdings Limited,
Asiainfo-Linkage, Gome Electrical Appliances Company, and the Bank
of Communications.
In addition to his corporate board activities, Mr. Manning is a
Lecturer in Law on the adjunct faculty at The University of Chicago
Law School, where he teaches courses on corporate governance,
private equity, and innovation. He speaks Mandarin and holds an MBA
from Stanford Graduate School of Business and a bachelor’s degree
from Harvard College.
Teleconference
As previously announced, Dun & Bradstreet will host a
conference call with the investment community on Tuesday, February
13, 2018, at 8 a.m. ET. During the call, we will be discussing our
fourth quarter and full year 2017 results, as well as our announced
leadership transition. Live audio, as well as a replay of the
conference call will be accessible on Dun & Bradstreet's
Investor Relations Web site at http://investor.dnb.com.
About Dun & Bradstreet®
Dun & Bradstreet (NYSE: DNB) grows the most valuable
relationships in business. By uncovering truth and meaning from
data, we connect our customers with the prospects, suppliers,
clients and partners that matter most, and have since 1841. Nearly
ninety percent of the Fortune 500, and companies of every size
around the world, rely on our data, insights and analytics. For
more about Dun & Bradstreet, visit DNB.com. Twitter: @DnBUS
Forward-Looking Statements
The statements in this press release that do not relate to
historical facts may be forward-looking statements. These include,
without limitation, any statements related to the Company’s ability
to capitalize on opportunities in the marketplace and enhance
value, and the search for a successor CEO. These forward-looking
statements can also be identified by the use of words like “will,”
“continues,” “look forward” “intends,” “believes,” “strategy,” and
other words of similar meaning. Forward-looking statements are
inherently uncertain and are subject to a number of risks and
uncertainties that could cause actual results and outcomes to be
materially different from those indicated by the forward-looking
statements. These risks and uncertainties include, among others,
(i) risks relating to management and key personnel changes; (ii)
any difficulties or delays we encounter in identifying a successor
CEO; and (iii) our ability to successfully execute on our strategy
and implement our strategic initiatives and (iv) the other factors
described under the headings “Risk Factors,” “Management’s
Discussion and Analysis,” “Legal Proceedings” and elsewhere in the
Company’s most recent Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and the Company’s other reports or documents filed or
furnished with the Securities and Exchange Commission. The Company
cautions that the foregoing list of important risk factors is not
complete and except as otherwise required by federal securities
laws does not undertake any obligation to update any
forward-looking statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20180212006295/en/
Dun & BradstreetMedia:Emile Lee,
973-921-5525LeeE@dnb.comorInvestors/Analysts:Kathy Guinnessey,
973-921-5892Kathy.Guinnessey@dnb.com
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