William B. Gauld, CIO for Pearson plc, Also Joins Board of Directors
BEDFORD, MA, - Interactive Data Corporation (NYSE: IDC) today announced that John Makinson has been elected chairman of the company and that William B. Gauld has been elected a director.
Mr. Makinson has served as chief executive of The Penguin Group since July 2002 and chairman since 2001. He served as a member of Interactive Data's board of directors in 2000, following its merger with Data Broadcasting Corporation. Mr. Makinson was finance director of the Pearson group from 1996 to 2002. From 1994 to 1996, he was managing director of the Financial Times newspaper, after co-founding and running Makinson Cowell, the consulting firm, from 1989 to 1994. From 1986 to 1989, he held the position of vice chairman of Saatchi & Saatchi's U.S. holding company.
Mr. Gauld is chief information officer for Pearson and a member of its management committee. He was previously chief information officer of Sony Electronics Inc. and North American liaison for Sony's worldwide ISS management team. From 1994 to 1999, he was vice president, corporate information, and chief information officer at Textron Inc. Prior to joining Textron, he served as chief information officer, responsible for information management of General Electric's Electric Distribution and Control business.
Stuart Clark, president and chief executive officer, commented, "I am very pleased that John is rejoining Interactive Data's board and want to extend a warm welcome to both him and Bill Gauld. Interactive Data has continued to grow in a difficult market environment, and we see good opportunities ahead of us. John and Bill both bring valuable ability and experience that will help us take our business forward. I would also like to thank our previous chairman, Stephen Hill, who has provided enormous support to the development of Interactive Data."
Mr. Makinson stated, "I am very happy to be rejoining the board of a company that has achieved so much over the past three years. Interactive Data's recent listing on the New York Stock Exchange epitomizes the progress it has made since its merger with Data Broadcasting Corporation. I look forward to using my experience to help the company continue its success."
Mr. Makinson succeeds Stephen Hill, while Mr. Gauld replaces Giles Spackman, both of whom resigned to pursue other interests.
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 is subject to the safe-harbor created by such Act. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those contemplated in the forward-looking statements. Such factors include, but are not limited to: (i) the presence of competitors with greater financial resources than the Company's and their strategic response to the Company's services and products; (ii) changes in technology, which could affect the competitiveness of the Company's products and services; (iii) maintaining relationships with key suppliers and providers of market data; (iv) a decline in activity levels in the securities markets, which could lower demand for the Company's products and services; (v) consolidation of financial services, both within an industry and across industries, which could lower demand for the Company's products and services (vi) prolonged outage at one of the Company's data centers; (vii) the acceptance of the Internet as a reliable real-time distribution platform by institutional customers; (viii) the ability of the Company to broaden its subscriber base by adding more individual investors outside of the Company's traditional "active-trader" market; (ix) the potential obsolescence of the Company's services due to the introduction of new technologies; and (x) other trends in competitive or economic conditions affecting the Company's financial condition or results of operations not presently contemplated. The Company undertakes no obligation to update these forward-looking statements.
About Interactive Data Corporation
Interactive Data Corporation is a leading global provider of securities pricing, financial information, and analytic tools to institutional and individual investors. The company supplies time-sensitive pricing (including evaluated pricing), dividend, corporate action, and descriptive information for more than approximately 3.5 million securities traded around the world, including hard-to-value instruments. The company links to most of the world's best-known financial service and software companies for trading, analysis, portfolio management, and valuation.
Interactive Data Corporation is headquartered in Bedford, Massachusetts. Through its branded businesses, FT Interactive Data, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 1,600 employees in 22 offices in North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 60 percent of Interactive Data Corporation.
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