FORMER IBM CHAIRMAN JOINS SPS BOARD OF DIRECTORS
FORMER IBM CHAIRMAN JOINS SPS BOARD OF DIRECTORS RIVERWOODS, Ill., April 27 /PRNewswire/ -- SPS Transaction Services,
Inc. (NYSE: PAY) announced today that Frank T. Cary, former chairman and chief executive officer of IBM, has joined the company's board of directors.
"We are tremendously pleased to welcome Frank Cary to our board of "We are tremendously pleased to welcome Frank Cary to our board of
diversified industry experience and leadership will be invaluable to our young organization."
Cary, 71, spent 43 years at IBM, holding a number of key positions, including chairman of the board and chief executive officer, and chairman of the executive committee. He remains active in business affairs and currently serves on the boards of a number of corporations, including Capital Cities/ABC, Merck & Company, PepsiCo and Texaco. SPS Transaction Services, Inc., headquartered in Riverwoods, Ill., is a full-service provider of electronic transaction processing services and private label credit card programs for retailers. The company, which had been a wholly owned subsidiary of Sears, Roebuck and Co., completed an initial public offering of approximately 26 percent of its shares in March 1992. -0- 4/27/92 /CONTACT: Larry Myatt, 708-405-3732, for SPS Transaction/ (PAY) CO: SPS Transaction Services Inc. ST: Illinois IN: FIN SU: PER
TQ -- NY068 -- 3110 04/27/92 11:47 EDT
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|Date:||Apr 27, 1992|
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