Cannae Holdings, Inc. Announces Appointment of Two New Board Members

Rhea-AI Summary

Cannae Holdings, Inc. (NYSE:CNNE) has appointed two new members, Barry Moullet and David Aung, to its board of directors, effective February 18, 2021. This expands the board to 11 members. Mr. Moullet brings over 35 years of experience, including leadership roles at Focus Brands and Darden Restaurants, focusing on supply chain management. Mr. Aung is an Investment Officer with a background in risk analytics and investment, previously working at KKR Credit and the Trust Company of the West. Both appointments aim to enhance Cannae’s strategic operations and risk management expertise.

Positive

• Increased board membership to 11, enhancing governance and oversight.
• Barry Moullet's experience in supply chain management may improve operational efficiency.
• David Aung's expertise in risk and analytics could bolster investment strategies.

Negative

• Potential continuity risks with new board members lacking familiarity with Cannae's operations.
• Experience gaps could hinder immediate strategic alignment.

Cannae Holdings, Inc. (NYSE:CNNE) (“Cannae” or the “Company”) today announced the appointment of two new board members to the Company’s board of directors, effective February 18, 2021.

Joining the board are Barry Moullet and David Aung. These appointments increase Cannae’s total board membership to 11. Mr. Moullet was appointed to Cannae’s Compensation Committee of the board and Mr. Aung was appointed to Cannae’s Corporate Governance and Nominating Committee of the board.

“I could not be more excited to welcome and announce the appointment of Barry and David to our Board of Directors,” commented William P. Foley, II, Chairman. “Combined, Barry and David bring decades of leadership expertise, inclusive of key leadership roles within Fortune 500 companies, in key results driven areas, such as operations and risk management, adding valuable expertise to Cannae’s go forward operations.”

Mr. Moullet has more than 35 years of industry expertise, currently serving as a board member for CiCi Pizza and RockSpoon Inc. Previously Mr. Moullet was Chief Supply Chain Officer at Focus Brands Inc. in which he directed the purchase and distribution of $600 million of food, packaging and smallwares for six brands under the Focus Brands umbrella. Prior to his tenure at Focus Brands, Mr. Moullet held several leadership roles at Darden Restaurants, Inc., most recently as Chief Supply Chain Officer. Prior to his tenure with Darden Restaurants, Mr. Moullet’s previous roles include Vice President of Purchasing for Restaurant Services Inc. and Vice President of Purchasing for Kentucky Fried Chicken. Mr. Moullet received a B.S. in a double major of Chemistry and Marketing from the University of Wisconsin and his M.B.A. with an emphasis in Finance from the College of St. Thomas.

Mr. Aung currently serves as an Investment Officer for the City of San Jose Office of Retirement Services. As a seasoned risk and analytics professional having held leadership positions at several leading buy side firms Mr. Aung has a proven track record of adding value to his investment team, extending across multiple asset classes. Prior to his current role, Mr. Aung served as a Principal in the Risk and Analytics Group at KKR Credit and was a Vice President at the Trust Company of the West, a traditional long-only asset manager. Mr. Aung received his B.A. in Economics from the University of California Los Angeles and his M.S. in Financial Engineering from Claremont Graduate University.

About Cannae Holdings, Inc.

Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets. Cannae was founded and is led by investor William P. Foley, II. Foley is responsible for the creation and growth of over $140 Billion in publicly traded companies including Fidelity National Information Services (“FIS”), Fidelity National Financial (“FNF”), and Black Knight, Inc. (“BKI”). Cannae’s current principal holdings include Dun & Bradstreet Holdings, Inc. (“DNB”), which recently completed a successful business transformation and IPO. Cannae holds an approximately 18% interest in Dun & Bradstreet or ~76 million shares. Cannae’s second principal holding is Ceridian (“CDAY”), which Foley transformed from a legacy payroll bureau into a leading cloud-based provider of human capital management software. Cannae owns approximately 9.5% of Ceridian representing ~14 million shares.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210218006117/en/

FAQ

What are the new appointments at Cannae Holdings (CNNE)?

Cannae Holdings appointed Barry Moullet and David Aung as new board members on February 18, 2021.

What expertise do Barry Moullet and David Aung bring to Cannae Holdings?

Barry Moullet has extensive experience in supply chain management, while David Aung specializes in risk analytics and investment strategies.

How many members are on Cannae Holdings' board after the new appointments?

Cannae Holdings' board now consists of 11 members.

What committees have the new board members been assigned to?

Barry Moullet has joined the Compensation Committee, and David Aung is part of the Corporate Governance and Nominating Committee.