Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related services to financial
institutions, active traders and individual investors, today
announced Raymond L. D�Arcy, 56, has succeeded Stuart J. Clark as
president and chief executive officer. Clark, 61, will serve as an
advisor to the Company before retiring later this summer as
previously announced.
This appointment was previously announced as part of the
Company�s formal CEO succession process. This process began in May
2008 when Clark announced his intention to retire in 2009 and was
further advanced in November 2008 when the Board selected D�Arcy to
be the Company�s next leader. In conjunction with this transition,
Clark has stepped down from serving as a member of the Board of
Directors, and D�Arcy has been appointed to fill this vacancy,
effective immediately.
Rona Fairhead, chairman of Interactive Data�s Board of
Directors, remarked, �The transition between Ray and Stuart has
progressed smoothly, which has allowed us to bring the succession
process to completion. I have tremendous confidence in Ray and the
Interactive Data team as we collectively work toward expanding our
business globally and creating value for all key stakeholders. The
Board would like to thank Stuart for being an outstanding chief
executive and for helping to establish Interactive Data as a
trusted industry leader with a broad range of high-value offerings.
We wish Stuart well in his retirement.�
�I am looking forward to leading Interactive Data,� D�Arcy
stated. �With an extensive range of high-value offerings, long-term
global customer relationships, a talented workforce and a strong
balance sheet, we are well positioned to extend our leadership in
our core markets. We move forward focused on leveraging our vast
array of content, capabilities and distribution channels to address
mission-critical areas across our customers� operations and further
fortify the trust that they have placed in our organization.�
D�Arcy concluded, �On behalf of the entire Interactive Data
workforce, I would like to thank Stuart for his leadership over the
past 13 years. As a result of Stuart�s vision, passion for the
business, and management skills, Interactive Data has accumulated
the content, capabilities, infrastructure and other resources that
now support our expansive global customer base. He has been a great
leader, colleague and friend to me over the years, and I appreciate
all that he has done over the past several months to facilitate an
orderly transition.�
D�Arcy, who has held a variety of senior sales, marketing,
product management and finance positions at Interactive Data during
the past 30 years, was most recently president of the Company�s
sales and marketing organization. As a member of Interactive Data�s
senior management team since 1995, D�Arcy has led the Company�s
institutional sales organization to 13 consecutive years of revenue
growth. In recent years, D�Arcy has played an instrumental role in
leading key initiatives that have advanced new institutional sales,
further strengthened existing customer relationships and elevated
the Company's stature in the financial information industry.
Interactive Data�s Senior Management Group
Under Ray D�Arcy�s leadership, Interactive Data�s senior
management group is composed of the following 11 talented,
experienced executives: James Farrer, managing director,
Interactive Data Asia Pacific; Andrew J. Hajducky, III, executive
vice president, chief financial officer and treasurer; Lori Hannay,
vice president and chief human resources officer; Mark Hepsworth,
president, Institutional Business; Mary Ivaliotis, vice president
and chief marketing officer; John L. King, chief operating officer;
Andrea H. Loew, executive vice president and general counsel; Roger
Sargeant, managing director, international; Chuck Thompson,
president, eSignal; Cort J. Williams, president of institutional
sales; and Stephan Wolf, chief technology officer.
Biographies for all Interactive Data senior executives,
including Ray D�Arcy, can be found on the Company�s website.
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 include all statements that are not historical
statements and include our statements discussing our goals,
beliefs, strategies, objectives, plans, future financial
conditions, potential impact of customer consolidations, future
challenges and opportunities. These statements include those
regarding (a) expanding our business globally and creating value
for all key stakeholders, (b) being well positioned to extend our
leadership position in our core markets, (c) leveraging our
content, capabilities and distribution channels to address
mission-critical areas across our customers� operations, and (d)
further fortifying the trust that our customers have placed in our
organization. Our forward-looking 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 impact of cost-cutting
pressures across the industries we serve; (ii) consolidation of
financial services companies, both within an industry and across
industries; (iii) our ability to maintain our relationships with
service bureaus and custodian banks; (iv) the presence of
competitors with greater financial resources than ours and their
strategic response to our services and offerings; (v) new offerings
by competitors or new technologies that could cause our offerings
or services to become less competitive or obsolete, or we may not
be able to develop new or enhanced services or offerings; (vi) a
decline in activity levels in the securities markets; (vii) new
legislation or changes in government or quasi-government rules,
regulations, directives or standards may reduce demand for our
service or increase our expenses; (viii) our ability to maintain
relationships with our key suppliers and providers of market data;
(ix) the possibility of a prolonged outage or other major
unexpected operational difficulty at any of our key facilities; (x)
our ability to negotiate and enter into strategic acquisitions or
alliances on favorable terms, if at all; (xi) our ability to
realize the anticipated benefits from any strategic acquisitions or
alliances that we enter into; (xii) the difficulty in predicting
our future cash needs; (xiii) the nature of other investment
opportunities available to us from time to time; (xiv) we provide
services to financial institutions that are subject to significant
regulatory oversight, and any investigation of us or our customers
relating to our services could be expensive, time consuming and
harm our reputation; (xv) certain of our subsidiaries are subject
to complex regulations and licensing requirements; (xvi) the risks
of doing business internationally; (xvii) our ability to attract
and retain key personnel; and (xviii) the ability of our majority
shareholder to exert influence over our affairs, including the
ability to approve or disapprove any corporate actions submitted to
a vote of our stockholders; and other factors identified in our
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.
About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a leading global
provider of financial market data, analytics and related services
to financial institutions, active traders and individual investors.
The Company's businesses supply real-time market data,
time-sensitive pricing, evaluations and reference data for millions
of securities traded around the world, including hard-to-value
instruments. Many of the world's best-known financial service and
software companies subscribe to the Company's services in support
of their trading, analysis, portfolio management and valuation
activities. Through its businesses, Interactive Data Pricing and
Reference Data, Interactive Data Real-Time Services, Interactive
Data Fixed Income Analytics, and eSignal, the Company has
approximately 2,400 employees in offices located throughout North
America, Europe, Asia and Australia. The Company is headquartered
in Bedford, Mass. Pearson plc (NYSE: PSO; LSE: PSON), an
international media company, whose businesses include the Financial
Times Group, Pearson Education, and the Penguin Group, is
Interactive Data Corporation's majority stockholder.
For more information about Interactive Data Corporation and its
businesses, please visit www.interactivedata.com.
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