WageWorks Announces Changes to the Board of Directors
September 12 2018 - 4:37PM
WageWorks, Inc. (NYSE: WAGE), a leader in administering
Consumer-Directed Benefits, today announced the appointment of
Stuart C. Harvey Jr. as Executive Chairman of the Board of
Directors. He replaces Joseph L. Jackson, who resigned as Executive
Chairman of the Company and Class III director on September 6,
2018.
John Larson, WageWorks’ Lead Independent Director, stated, “On
behalf of the entire Board and the Company, we wish to thank Joe
for his leadership as our Chief Executive Officer and as our
Executive Chairman. Joe helped build WageWorks to be a leading
provider of administering Consumer-Directed Benefits. During his
tenure as our Chief Executive Officer, Joe successfully guided us
through our IPO and beyond. Through his executive leadership,
Joe was integral to the Company’s significant expansion and growth.
We thank Joe for his support and dedication, and valuable
contributions over the past years. We wish him success in his
future endeavors.”
“I would also like to thank Joe for all of his contributions in
establishing our company as a market leader over the past 11 years
and for supporting me during this transition,” said Mr. Edgar
Montes, WageWorks’ President and Chief Executive Officer.
Mr. Harvey has served as the Chairman of Paysafe Group, a
multinational payments company, since April 2018. Prior to joining
the Company, Mr. Harvey served as the President and Chief Operating
Officer of Piper Jaffray Companies. In this role, he led the
operations of the firm’s global investment banking, equities,
public finance, fixed income and asset management businesses. Mr.
Harvey rejoined Piper Jaffray in 2015 as a partner in its merchant
banking group, having previously served as a managing director at
Piper Jaffray in its investment banking group from 1993 to 2003.
From 2010 to 2013, Mr. Harvey served as the Chairman, CEO and
President of Ceridian Corporation, a provider of human capital
management software and services. In 2013, he became the Chairman,
CEO and President of Comdata, Inc., a subsidiary that was split off
by Ceridian that managed fleet and corporate card payments and
services, while continuing to serve as Executive Chairman of
Ceridian. During his tenure at Ceridian, Mr. Harvey was responsible
for driving significant improvements in the company’s performance
through the development of advanced service offerings and increased
operating and sales efficiency. He directed Ceridian’s acquisition
of Dayforce Corp. in 2012, and the sale of Comdata, Inc. to
Fleetcor Technologies, Inc. in 2014.
“I’m delighted to welcome Stuart as our Executive
Chairman. Stuart has an impressive track record and exceptional
experience for WageWorks given his performance-driven approach and
deep understanding of the business,” said Mr. Montes. Mr. Montes
will continue to report to the Board of Directors.
WageWorks also announced that Mariann Byerwalter resigned as a
Class II director, effective September 6, 2018, due to family
reasons. Mr. Larson stated, “Mariann has brought a unique and
valuable perspective to the Board of WageWorks over the past 8
years. On behalf of the Board, we are deeply grateful for her
distinguished service as a Board member.”
WageWorks announced that the Board is actively searching for an
independent board member who will have the right skill set to
complement the current Board.
About WageWorks
WageWorks, Inc. (NYSE: WAGE) is a leader in administering
Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to
administering CDBs, including pre-tax spending accounts, such as
Health Savings Accounts (HSAs), health and dependent care Flexible
Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs),
as well as Commuter Benefit Services, including transit and parking
programs, wellness programs, COBRA, and other employee benefits.
WageWorks is headquartered in San Mateo, California, with offices
in major locations throughout the United States. For more
information, visit www.wageworks.com.
Media Contact:
Elizabeth Anderson WageWorks, Inc. 972.984.0800
Elizabeth.Anderson@Wageworks.com
Investor Contact:
Staci Mortenson ICR 203.682.8273 Staci.Mortenson@icrinc.com
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