Interactive Data Announces Board Member Alan J. Hirschfield's Retirement
March 16 2006 - 4:05PM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytic tools and related services to
financial institutions, active traders and individual investors,
today announced that Alan J. Hirschfield, 70, will not seek
re-election as a director at the end of his current term, which
expires on May 17, 2006. Mr. Hirschfield has served on the
Interactive Data Board of Directors since the merger of Data
Broadcasting Corporation and Interactive Data in February 2000, and
prior to that was co-chairman of the Data Broadcasting Board of
Directors since 1992 and was Data Broadcasting's co-chief executive
officer from 1992 until November 1999. Interactive Data's Board of
Directors plans to elect two new independent directors to replace
Mr. Hirschfield and Allan R. Tessler, who announced in January 2006
his intention to retire upon the appointment of a successor. The
Board anticipates that these new directors will be elected
following the Company's annual meeting of stockholders on May 17,
2006. "It has been very fulfilling for me to serve on the
Interactive Data Board during the past six years," stated Alan
Hirschfield. "During that time, the Company has nearly doubled in
size, fortified its leadership positions in its core markets,
entered new market sectors, significantly improved its
profitability and created substantial value for shareholders.
However, I have decided to not stand for re-election to the Board
in order to concentrate on my personal activities and investments.
I believe that Interactive Data will benefit from the fresh
perspective, experience and expertise that new independent
directors will undoubtedly bring." "Alan Hirschfield's
contributions have made a profound impact upon Interactive Data,
and it is with mixed emotions that we accept his decision to
retire," stated John Makinson, chairman of Interactive Data's Board
of Directors. "As co-chairman and co-CEO of Data Broadcasting,
Alan's leadership was instrumental in guiding the company until the
merger with Interactive Data in 2000. Following the merger, he has
provided valuable counsel and insight through his active
involvement on our Board. We wish Alan continued good fortune in
his future endeavors." Mr. Hirschfield's detailed biography is
available on Interactive Data's website at
www.interactivedata.com/overview/board_hirschfield. About
Interactive Data Corporation Interactive Data Corporation is a
leading global provider of securities pricing, financial
information, and analytic tools to institutional and individual
investors. The Company supplies time-sensitive pricing (including
evaluated pricing), dividend, corporate action, and descriptive
information for more than 3.5 million securities traded around the
world, including hard-to-value instruments. Many of the world's
best-known financial services and software companies subscribe to
the Company's services in support of their trading, analysis,
portfolio management, and valuation activities. Interactive Data
Corporation is headquartered in Bedford, Massachusetts. Through its
branded businesses, FT Interactive Data, ComStock, CMS BondEdge,
and eSignal, Interactive Data Corporation has approximately 2,100
employees in offices located in North America, Europe, Asia, and
Australia. Pearson plc (NYSE: PSO), an international media company,
whose businesses include the Financial Times Group, Pearson
Education, and the Penguin Group, owns approximately 62 percent of
the outstanding common stock of Interactive Data Corporation. The
FT Interactive Data business includes FT Interactive Data
Corporation, a Delaware corporation. The ComStock business includes
ComStock, Inc., a New York corporation. Forward-looking and
Cautionary Statements This press release contains certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and Federal securities
laws, and is subject to the safe-harbor created by such Act and
laws. Forward-looking statements may include our statements
regarding our goals, beliefs, strategies, objectives, plans
including product and service developments, future financial
conditions, results or projections or current expectations
including Interactive Data's expectation that two new independent
directors will be elected by the Board after May 17, 2006. These
statements are subject to known and unknown risks, uncertainties,
assumptions and other factors that may cause actual results to be
materially different from those contemplated by the forward-looking
statements. Such factors include, but are not limited to: (i) the
ability of Interactive Data to recruit two qualified independent
directors to replace Mr. Tessler and Mr. Hirschfield; and (ii)
other factors identified in Interactive Data's most recent Annual
Report on Form 10-K and Quarterly Report on Form 10-Q filed with
the Securities and Exchange Commission. We undertake no obligation
to update these forward-looking statements.
Interactive Data (NYSE:IDC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Interactive Data (NYSE:IDC)
Historical Stock Chart
From Jul 2023 to Jul 2024