Ceridian Corporation Expects to Announce New Chief Executive Officer Shortly.MINNEAPOLIS -- Ceridian Corporation (NYSE NYSE See: New York Stock Exchange : CEN CEN - Conseil Européen pour la Normalisation. A body coordinating standardisation activities in the EEC and EFTA countries. ) announced today it anticipated its search for a new Chief Executive Officer would be completed shortly. L. White Matthews, III, Chairman of the Board of Directors, said, "Our search for a new Chief Executive Officer has gone well. We anticipate the announcement of our new Chief Executive Officer within the next week or so. The Board and Company appreciate that Ronald L. Turner Ronald L. Turner was the Chairman and chief executive officer of Ceridian Corporation. Turner joined Ceridian in 1993 as President of Computing Devices International. He was appointed Executive Vice President of Operations for Ceridian Corporation in 1997 and President and Chief , Ceridian's current President and Chief Executive Officer, has agreed to postpone his retirement during this short transition." Ceridian Corporation (www.ceridian.com) is an information services See Information Systems. company serving businesses and employees in the United States, Canada and Europe. Ceridian is one of the top human resources outsourcing companies in each of its markets, and offers a broad range of human resource services, including payroll, benefits administration, tax compliance, HR information systems and employee advisory programs. Through its Comdata subsidiary, Ceridian is a major payment processor and issuer of credit cards, debit cards and stored value cards, primarily for the trucking and retail industries in the United States. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The statements regarding Ceridian Corporation contained in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to Ceridian that could cause such material differences are identified and discussed from time to time in Ceridian's filings with the Securities and Exchange Commission, including matters arising from the SEC investigation, the prior restatements of our financial statements, the investigation conducted by the Audit Committee, the pending shareholder litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , the failure to timely comply with Section 404 of the Sarbanes-Oxley Act See SOX. of 2002, volatility associated with Comdata's fuel price derivative contracts and those factors which are discussed in Ceridian's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , for the year ended December 31, 2005, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2006 and June 30, 2006, which factors are also incorporated herein by reference. Ceridian undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any future disclosure Ceridian makes on related subjects in future reports to the SEC. |
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