Alliance Data Names New CFO

Rhea-AI Summary

Alliance Data Systems Corporation (NYSE: ADS) has appointed Perry Beberman as the new executive vice president and CFO, effective July 6, 2021. Beberman joins from Bank of America, where he held senior finance roles. He succeeds Tim King, who served as CFO since 2019. The company's interim financial oversight will be managed by Ralph Andretta and the financial team during the transition. Beberman aims to drive sustainable growth and strengthen the company's financial performance amid a strategic transformation.

Positive

• Appointment of Perry Beberman as CFO expected to enhance financial performance.
• Beberman's extensive experience in financial services may strengthen the company's strategy.
• Company is undergoing a strategic transformation that could drive long-term growth.

Negative

• None.

COLUMBUS, Ohio, April 14, 2021 /PRNewswire/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of data-driven marketing, loyalty and payment solutions, today announced that Perry Beberman has been named executive vice president and CFO, effective July 6, 2021. Mr. Beberman joins Alliance Data from Bank of America, where he most recently served as SVP and Finance Executive for the company's Consumer and Wealth Management Lending Products. He succeeds Tim King, who served as Alliance Data's chief financial officer since 2019. In the interim, Ralph Andretta, along with the Company's seasoned financial team, will oversee the Company's financials and investor relations, and ensure a smooth transition pending commencement of Mr. Beberman's appointment in July.

"I am pleased that Perry Beberman will be joining Alliance Data as its chief financial officer, particularly during a pivotal time when our business is undergoing an exciting strategic transformation," said Andretta. "Perry's proven leadership, strong financial acumen and consumer lending expertise will be instrumental in driving Alliance Data's continued financial performance, strengthening our balance sheet, and managing risk to deliver long-term sustainable growth for our shareholders. His extensive experience, enterprise-wide thinking and deep expertise in large, international financial services organizations, paired with his leadership qualities make him an excellent addition to our experienced leadership team.

"On behalf of our leadership team and associates, I would like to thank Tim King for his commitment and contributions to building our Card Services business over the past ten years, and most recently for serving as CFO for Alliance Data," said Andretta.  

In his 15+ years with Bank of America, Mr. Beberman has served in leading roles for several business units, including Consumer and Wealth Management Lending Products; U.S. Consumer and GWIM Credit Card; and Personal Loans / Consumer Lending. He joined Bank of America following its acquisition of MBNA, where he had spent more than 17 years in finance leadership roles across strategic planning, forecasting and P&L reporting.  

"I am thrilled to join Alliance Data and am both energized and humbled by the opportunity," said Perry Beberman. "As Alliance Data continues on its transformation journey, I look forward to working with the team to deliver on the Company's strategic priorities and oversee our commitment to driving shareholder value."

About Alliance Data
Alliance Data^® (NYSE: ADS) is a leading provider of data-driven marketing, loyalty and payment solutions serving large, consumer-based industries. The Company creates and deploys customized solutions that measurably change consumer behavior while driving business growth and profitability for some of today's most recognizable brands. Alliance Data helps its partners create and increase customer loyalty across multiple touch points using traditional, digital, mobile and emerging technologies. A FORTUNE 500 and S&P MidCap 400 company headquartered in Columbus, Ohio, Alliance Data consists of businesses that together employ nearly 8,000 associates at 45 locations worldwide.

Alliance Data's Card Services business is a comprehensive provider of market-leading private label, co-brand, general purpose and business credit card programs, digital payments, including Bread^®, and Comenity-branded financial services. LoyaltyOne^® owns and operates the AIR MILES^® Reward Program, Canada's most recognized loyalty program, and Netherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers. More information about Alliance Data can be found at www.AllianceData.com.

Follow Alliance Data on Twitter, Facebook, LinkedIn, Instagram and YouTube.

Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as "believe," "expect," "anticipate," "estimate," "intend," "project," "plan," "likely," "may," "should" or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, initiation or completion of strategic initiatives, future dividend declarations, and future economic conditions, including, but not limited to, fluctuation in currency exchange rates, market conditions and COVID-19 impacts related to relief measures for impacted borrowers and depositors, labor shortages due to quarantine, reduction in demand from clients, supply chain disruption for our reward suppliers and disruptions in the airline or travel industries.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. These risks and uncertainties include, but are not limited to, factors set forth in the Risk Factors section in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Alliance Data
Brian Vereb – Investor Relations
614-528-4516
brian.vereb@alliancedata.com

Rachel Stultz – Media
614-729-4890
rachel.stultz@alliancedata.com 

Jon Stone – Media
214-259-3446
jonathan.stone@ketchum.com

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SOURCE Alliance Data Systems Corporation

FAQ

Who is the new CFO of Alliance Data Systems (ADS)?

Perry Beberman has been appointed as the new CFO of Alliance Data Systems, effective July 6, 2021.

When will Perry Beberman start as CFO for Alliance Data (ADS)?

Perry Beberman will assume the role of CFO on July 6, 2021.

What position did Tim King hold at Alliance Data (ADS) before Perry Beberman?

Tim King was the Chief Financial Officer at Alliance Data Systems from 2019 until his recent succession.

What is the background of Perry Beberman before joining Alliance Data (ADS)?

Before joining Alliance Data, Perry Beberman served as SVP and Finance Executive at Bank of America.

What does the interim management of Alliance Data (ADS) involve?

Ralph Andretta and the financial team will manage the company's financials and investor relations until Beberman's appointment.