Tuesday September 7, 10:01 am Eastern Time
Company Press Release
SOURCE: CheckFree Corporation
CheckFree Appoints David Mangum SVP, Finance and Accounting
ATLANTA, Sept. 7 /PRNewswire/ -- CheckFree (Nasdaq: CKFR - news), the leading provider of financial electronic commerce processing and electronic billing and payment (EBP), today announced that David Mangum has joined the Company as Senior Vice President, Finance and Accounting. Mangum will work directly with the Company's Chief Accounting Officer, Treasurer and Vice President of Financial Analysis, and report to CheckFree's Chief Financial Officer.
``David's expertise in financial management of e-commerce companies will help CheckFree tremendously as we orchestrate our plans for future growth,' stated CheckFree Executive Vice President, Chief Financial Officer and General Counsel Allen Shulman.
Previously, Mangum served as Vice President of Finance and Administration for the Managed Systems Division of Sterling Commerce, a $600 million electronic commerce software and services company. In this role, David managed a team responsible for finance, accounting, contract negotiation, order fulfillment, business systems, purchasing, facilities and human resources. He also oversaw the integration of the financial and business systems of XcelleNet, a $70 million remote systems management software company Sterling acquired in July of 1998, into Sterling's operations.
Prior to his work at Sterling Commerce, Mangum was Director of Finance at XcelleNet, where he brought financial management to operations, including identifying and tracking business metrics and leading indicators, as well as a disciplined approach to expense control and cash flow management. Mangum's experience also includes various financial management positions at Dun & Bradstreet Corporation, and its subsidiary, Dun & Bradstreet Software.
About CheckFree
Founded in 1981, CheckFree (www.checkfree.com ), the operating subsidiary of CheckFree Holdings Corp., is the leading provider of financial electronic commerce services, software and related products. CheckFree designs, develops and markets services that enable nearly three million consumers to receive and pay bills over the Internet or electronically through a variety of bill aggregation points, including banks, brokerage firms, portals and interactive content sites on the Internet, and personal financial management (PFM) software. CheckFree's range of services and products are focused on enabling customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure Internet transactions. After more than a year of beta testing, CheckFree launched the nation's first fully integrated electronic billing and payment solution, CheckFree E-Bill, in March of 1997. Today, the Company has multi-year contracts with more than 60 of the nation's top billers to provide online billing and payment through the CheckFree distribution network.
Certain of the Company's statements in this press release are not purely historical, and as such are ``forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in the Company's business, and other risks and uncertainties detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including Form 10-K for the year ended June 30, 1998, Form 10-Q for the quarter ended March 31, 1999, Form 8-K filed May 25, 1999 and the Company's Registration Statement on Form S-3 (No. 333-79695) filed June 1, 1999, as amended June 15, 1999. One or more of these factors have affected, and could in the future affect, the Company's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this document will prove to be accurate, and issuance of such forward- looking statements should not be regarded as a representation by the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements.
SOURCE: CheckFree Corporation
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