CheckFree Board Member Mark A. Johnson Named Vice Chairman; Johnson to Focus on
Strategic Growth Opportunities
ATLANTA, Feb. 18 /PRNewswire-FirstCall/ --
CheckFree Corporation (Nasdaq: CKFR) today announced that Mark A. Johnson, 50,
has accepted a position as vice chairman, effective immediately. Johnson
reports to chairman and chief executive officer Pete Kight, and will focus on
evaluating and marshalling strategic growth opportunities for the Company,
particularly opportunities related to extending electronic settlement to a
broader base of customers, and enabling CheckFree customers to expand the
reach of their electronic services.
Johnson, who has served on CheckFree's Board of Directors since 1982,
brings to the Vice Chairman position nearly 25 years of experience in the
payments industry. His background includes working at The Federal Reserve
Bank in its processing areas, experience in corporate cash management and
payment products with Bank One, and a number of executive leadership positions
over an 18-year period with CheckFree, including the Vice Chairman post.
Johnson left CheckFree in 2000 to form e-RM Ventures, a private investing
consultancy focused on early stage companies, primarily in the payments
industry. He has continued to work with CheckFree executive management on
strategic issues through his Board of Directors position.
"Mark Johnson's experience and collected wisdom in the payments industry
is unmatched, and I am very pleased to announce his return to the Vice
Chairman position at CheckFree," said Kight. "His focus on new business
development and tapping unmet potential within our existing businesses will be
a core component of our long-term growth strategy."
About CheckFree (www.checkfreecorp.com )
CheckFree (Nasdaq: CKFR) is the leading provider of financial electronic
commerce services and products. Founded in 1981 and celebrating its 22nd year
in e-commerce, CheckFree is comprised of three divisions: Electronic Commerce,
Software, and Investment Services. CheckFree launched the first fully
integrated electronic billing and payment solution in 1997. In the quarter
ended December 31, 2002, about 8 million consumers initiated online payments
through services offered by CheckFree's Electronic Commerce division. The
company has multi-year contracts with 270 of the nation's top billers to
provide online billing and payment through 784 financial services
organizations, including banks, brokerage firms, Internet portals and content
sites and personal financial management (PFM) software. CheckFree Investment
Services provides a broad range of investment management services to thousands
of financial institutions nationwide. The division's clients manage about 1.2
million portfolios totaling more than $500 billion in assets.
CheckFree's Software division provides solutions through three operating
units: CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions
(CFACS), and CheckFree i-Solutions. CheckFree ACH Solutions provides software
and services that are used to process more than two-thirds of the nation's
eight billion Automated Clearing House payments, while CFACS provides
reconciliation and compliance software and services to more than 400
organizations in the banking, brokerage, utility, retail, insurance and credit
card industries, among others. CheckFree i-Solutions is the leading provider
of e-billing and e-statement software and services for both business-to-
consumer and business-to-business applications, with more billers as clients
than all of its competitors have combined.
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 the Company's Form 10-K for the year ended June 30, 2002
(filed September 26, 2002); Form 10-Q for the quarter ended September 30, 2002
(filed November 15, 2002); and Form 10-Q for the quarter ended December 31,
2002 (filed February 12, 2003).
SOURCE CheckFree Corporation
-0- 02/18/2003
/CONTACT: media relations, Judy DeRango Wicks, +1-678-375-1595, or
jdwicks@checkfree.com , or investor relations, Tina Moore, +1-678-375-1278, or
tmoore@checkfree.com , both of CheckFree Corporation/
/Company News On-Call: prnewswire.com
/Web site: checkfreecorp.com
(CKFR)
CO: CheckFree Corporation
ST: Georgia
IN: CPR STW FIN ECM MLM
SU: PER
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