CheckFree Executive Vice President and General Counsel To Depart at Year End.Business Editors ATLANTA--(BUSINESS WIRE)--Aug. 24, 2001 CheckFree Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CKFR CKFR Checkfree Corporation (stock abbreviation, AMEX) ) today announced that Allen L. Shulman will voluntarily leave his post as executive vice president and General Counsel as of December 31, 2001. Shulman has held his current position since June of 1997. He served additionally as CheckFree's chief financial officer from August of 1998 to May of 2000, after which current CFO See Chief Financial Officer. David Mangum assumed that position. CheckFree has begun an executive search to replace Shulman, and plans to have a new general counsel in place before his departure. CheckFree President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Pete Sinisgalli said, "Allen's broad legal expertise has helped guide us through some very complex transactions, including such recent events as our acquisition of BlueGill bluegill: see sunfish. bluegill Popular game fish (Lepomis macrochirus) and one of the best-known sunfishes throughout its original range, the freshwater habitats of the central and southern U.S. It has been introduced throughout the western U.S. Technologies and TransPoint, and our strategic alliance with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. . Although we will miss Allen's contributions, we fully support his future plans." About CheckFree (www.checkfree.com) CheckFree (NASDAQ: CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 20th 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. As of June 30, 2001, CheckFree's Electronic Commerce division enabled more than 5.2 million consumers to receive and pay bills electronically. The company has multi-year contracts with 271 of the nation's top billers to provide online billing and payment through more than 300 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 more than 1,150,000 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 CFACS CheckFree Financial and Compliance Solutions ), and CheckFree i-Solutions. CheckFree i-Solutions is the leading provider of e-billing and e-statement software and hosting services for both business-to-consumer and business-to-business applications, with more billers as clients than all of its competitors have combined. CheckFree ACH Solutions provides software and services that are used to process more than two-thirds of the nation's six billion Automated Clearing House See ACH. 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. |
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