NEW YORK, Sept. 12, 2018 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. (NYSE: BR) today announced that its Board
of Directors has appointed Tim
Gokey, the Company's President and Chief Operating Officer,
to become its Chief Executive Officer. In addition, the Board
appointed Rich Daly, the current
Chief Executive Officer, to the role of Executive Chairman of the
Board. Les Brun, Broadridge's
independent Chairman of the Board, will become the Lead Independent
Director. All moves will become effective on January 2, 2019.
"On behalf of the Board, I am pleased to announce that, as part
of a long-planned and well-orchestrated succession process,
Tim Gokey will become the next Chief
Executive Officer of Broadridge," said Mr. Brun. "Tim has been
instrumental in creating and executing strategies that have driven
significant growth for Broadridge over the past eight years, and he
is the right person to lead Broadridge into the future.
"I am also pleased that Rich Daly
will remain actively involved as Executive Chairman. Rich founded
our Investor Communications business and has been CEO since
Broadridge became an independent company in 2007. We're fortunate
to be able to continue to benefit from his deep knowledge and
passion," Mr. Brun added.
"Tim Gokey is one of the most
committed and capable leaders in Fintech," said Mr. Daly. "He has a
proven track record and has been an invaluable partner as together
we have transformed Broadridge into a leading global Fintech
company. He led the turnaround of our GTO business and is the
primary architect of the long-term growth strategy we presented
last December at our Investor Day. He has a deep understanding of
our clients and has been a champion of our corporate culture and
values. I am confident that Tim will build on our strong momentum
in the marketplace and lead Broadridge to its next phase of
growth."
Mr. Gokey, 57, joined Broadridge in 2010 to lead the Company's
growth initiatives. He was named Chief Operating Officer in 2012
and President in August 2017. In
those roles, he led the sustained development of the Governance,
Capital Markets, and Wealth Management businesses. He was also
responsible for the expansion of Broadridge's capabilities through
organic investments and tuck in acquisitions that have positioned
Broadridge as a global Fintech leader.
Prior to joining Broadridge, Mr. Gokey was President of the
Retail Tax business at H&R Block, where he had a strong record
of innovation and profitable growth. Previously, he spent 13 years
at McKinsey and Company, where he led McKinsey's North American
Financial Services Sales and Marketing Practice and served as
trusted advisor to the senior management teams at leading clients
in the financial services industry. Mr. Gokey serves on the Board
of C.H. Robinson, a leading third-party logistics provider. A
Rhodes Scholar, Mr. Gokey holds a doctorate in Finance from
Oxford University as well as a joint
Bachelor's degree in Engineering and Public Affairs from
Princeton University.
"I am both humbled and excited to lead Broadridge on its next
stage of growth," said Mr. Gokey. "Broadridge's more than 10,000
associates deliver exceptional client outcomes every day. Together,
we have a tremendous market opportunity to help our clients drive
results while continuing to deliver top quartile total shareholder
returns through disciplined capital allocation and a long-term
focus. We will build on our position as a Fintech and innovation
leader by continuing to invest for the long term in our technology
platforms, broaden our product set and deliver network value to our
clients.
"I am also honored to be succeeding Rich
Daly and delighted that he will remain at Broadridge as
Executive Chairman," Mr. Gokey added. "In his new role, Rich will
lead the Board and support several important regulatory initiatives
for which he has enormous passion, including digital and retail
investor engagement."
Since becoming a public company in 2007, Broadridge has
significantly enhanced its solution set, technology platforms, and
global reach. Over that time, Broadridge has grown from 4,000 to
more than 10,000 associates and its revenues have more than doubled
to $4.3 billion. That growth has been
rewarded by investors. Its market capitalization has increased from
$2.7 billion to $15.9 billion, generating annualized total
shareholder returns of 21%. The Company was added to the S&P
500 in June 2018.
Forward-Looking Statements
This press release and
other written or oral statements made from time to time by
representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements that are not historical in nature,
and which may be identified by the use of words such as "expects,"
"assumes," "projects," "anticipates," "estimates," "we believe,"
"could be" and other words of similar meaning, are forward-looking
statements. These statements are based on management's expectations
and assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed.
These risks and uncertainties include those risk factors discussed
in Part I, "Item 1A. Risk Factors" of our Annual Report on Form
10-K for the fiscal year ended June 30,
2018 (the "2018 Annual Report"), as they may be updated in
any future reports filed with the Securities and Exchange
Commission. All forward-looking statements speak only as of the
date of this press release and are expressly qualified in their
entirety by reference to the factors discussed in the 2018 Annual
Report.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE:BR) a global Fintech leader and a member of the S&P 500,
is the leading provider of investor communications and
technology-driven solutions to banks, broker-dealers, asset
managers and corporate issuers globally. Broadridge's investor
communications, securities processing and managed services
solutions help clients reduce their capital investments in
operations infrastructure, allowing them to increase their focus on
core business activities. With over 50 years of experience,
Broadridge's infrastructure underpins proxy voting services for
over 50 percent of public companies and mutual funds globally, and
processes on average more than $5
trillion in fixed income and equity trades per day.
Broadridge employs over 10,000 full time associates in 18
countries. For more information about Broadridge, please visit
www.broadridge.com.
Contact Information:
Investors:
W. Edings Thibault
Investor Relations
(516) 472-5129
Media:
Gregg
Rosenberg
Corporate Communications
(212) 918-6966
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SOURCE Broadridge Financial Solutions, Inc.