Ussery To Retire From TSYS After 40 Years of Service Retaining Position as Chairman of the Board.COLUMBUS, Ga. -- TSYS TSYS Total System Services, Inc. (R) (NYSE NYSE See: New York Stock Exchange : TSS See ITU. ) today announced the planned retirement of Richard W. Ussery as an executive team member, effective June 30, 2005. Ussery will continue to serve as a director and chairman of the board for TSYS. In making the announcement, TSYS Chief Executive Officer Philip W. Tomlinson stated, "Rick Ussery has served as a driving force and key visionary leader in the building of what is today one of the world's largest payments services companies. Rick's understanding of leading-edge technology and his entrepreneurial spirit helped enable the creation of TSYS in 1983 and has prepared us to anticipate and meet the changing demands and needs of the top players in the card issuing, acquiring and electronic payments arena. He has been a major contributor to the 22-year growth record of TSYS, and his leadership style has empowered team members to be the best they can be. We will continue to look to Rick for his guidance and wisdom." In his role as chairman of TSYS' board of directors, Ussery will continue to manage the company's relationship with board members. Additionally, under a consulting agreement effective July 1, 2005 and concluding June 30, 2006, Ussery will be responsible for providing advice, counsel and expertise with respect to TSYS' investor relations Investor relations The process by which the corporation communicates with its investors. activities, corporate strategy and future building projects; TSYS' community relations 1. The relationship between military and civilian communities. 2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. activities, including selected civic and charitable projects; and team member and leadership training as requested by TSYS and Synovus, including speaking engagements at the Synovus Leadership Institute. Prior to Ussery's current executive position as chairman of the board, he was appointed as the first CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of Total System Services, Inc., now TSYS, when the company became public in 1983. He became chairman and CEO in 1992 and held both positions until the promotion of Phil Tomlinson Phil Tomlinson is an American politician from the US state of Oklahoma. Appointed by Governor of Oklahoma Brad Henry in 2003, Tomlinson is the current Secretary of Transportation. Secretary Tomlinson has served under Governors Dewey F. Bartlett and David Hall. in 2004 from president to CEO and Troy Woods from executive vice president to president. On June 15, 2005, Ussery will complete 40 successful years with the Synovus family of companies, having begun his career as a teller at Columbus Bank & Trust Company in 1965, Synovus' Columbus, Georgia-based bank. Ussery was later promoted to assistant data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a officer in 1970, assistant cashier in 1971 and assistant vice president in 1972. In 1975, he was promoted to vice president and operations officer and then promoted to senior vice president of operations for the holding company, CB&T Bancshares, now Synovus, in 1981. Tomlinson continued, "In January 2004, we began implementing the first steps of our long-range succession planning Management Succession Planning In organizational development, succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace key players — such as the chief executive officer (CEO) — process, which has allowed us to add more depth and talent to our senior executive leadership team. And as a result, we have been preparing for Rick's retirement. We are thrilled that Rick will continue to be involved in our organization. We have a great team of people at TSYS who enable us to continue our long-term success." For more information on Rick Ussery, please refer to the attached biography and career highlights. TSYS (www.tsys.com) is one of the world's largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer finance, credit, debit, prepaid and related services for financial institutions and retail companies throughout the Americas, Europe and Asia-Pacific. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. by Synovus (NYSE: SNV SNV Synovus Financial Corp. (stock symbol) SNV Schweizerische Normenvereinigung (Swiss standards body) SNV Stichting Nederlandse Vrijwilligers (Netherlands Development Organization) ), one of FORTUNE magazine's "Most Admired Companies" and a member of its "100 Best Companies to Work For" Hall of Fame. For more information, contact news@tsys.com. Richard W. Ussery Chairman of the Board TSYS Rick Ussery, 57, chairman of the board of TSYS, served 21 years as the company's first chief executive officer until January 1, 2004. During Ussery's leadership, TSYS reported 22 percent or greater compound growth in accounts, revenues and net income for the past 20 straight years. TSYS shares posted compound annual growth of 26 percent for 20 years, more than double the gains of the S&P 500 Index in the same period. Chief Executive magazine ranked Ussery among the top-performing service-sector CEOs in America based on shareholder value and return. In many respects, Ussery's 40-year career reflects the company he led across three decades. He worked as a full-time teller for Columbus Bank and Trust Company, Synovus' Columbus, Georgia-based bank, in 1965 while he was a full-time college student. Ussery worked 18 years with CB&T, later becoming the senior vice president of operations for the parent company, Synovus. While at CB&T, he was a member of the team that designed and developed the credit-card software that was a forerunner of the system that TSYS uses today. In 1983, the bank established its successful back-office payment services division as a separate company, with Ussery as its first president and CEO. He became chairman and CEO in 1992. Ussery guided TSYS through every phase of its transformation from a division of CB&T to a global payments firm. In 1983, TSYS serviced 2.7 million accounts. With more than 370 million customer accounts in service today, TSYS is recognized as the world's leading processor of credit and commercial card accounts and processes more accounts outside the U.S. than any other third-party processor. The company has relationships with 10 of the top-15 issuing institutions in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. as well as other of the world's largest financial institutions. Ussery earned a bachelor's degree from Auburn University Auburn University, main campus at Auburn, Ala.; land-grant and state supported; opened 1859 as East Alabama Male College, reorganized 1872 as the Agricultural and Mechanical College of Alabama; became coeducational 1892; renamed Alabama Polytechnic Institute 1899, , and also graduated from Duke University's Fuqua School of Executive Management and Rutgers University's Stonier School of Banking. Ussery was recognized as the Distinguished Alumnus ALUMNUS, civil law. A child which one has nursed; a foster child. Dig. 40, 2, 14. for Auburn University's College of Business in 1990. In addition to his role as chairman of TSYS, Ussery also serves on the board's executive committee. He also serves on the board of Georgia Power Company. He is a member of the Columbus State University Columbus State University is a four-year public liberal arts university located in Columbus, Georgia. The university was established and is administered by the Board of Regents of the University System of Georgia, and is fully accredited by the Commission on Colleges of the Foundation board and its investment committee. In his career, Ussery has served on numerous education, civic, charitable and advisory boards, including: Auburn University, Georgia Institute of Technology Georgia Institute of Technology, in Atlanta, Ga.; coeducational; state supported; chartered 1885, opened 1888. It is a member school in the university system of Georgia. Significant among its facilities and programs are the Frank H. , Greater Columbus Chamber of Commerce, United Way of the Chattahoochee Valley, Easter Seals and Partners in Education. Ussery currently serves on Georgia Gov. Sonny Perdue's Commission for a New Georgia. Richard W. Ussery Chairman of the Board TSYS Career highlights: --In 1965, Ussery began his career as a teller at Columbus Bank and Trust Company (CB&T), Columbus, Georgia. --In 1966, the bank began developing a data processing department and recruited the best talent to lead the strategy. Ussery scored the highest on a computer programming aptitude test ap·ti·tude test n. An occupation-oriented test for evaluating intelligence, achievement, and interest. that was given to every team member at the bank. --In 1966, Ussery was selected as one of the founding team members to join the bank's new data processing department as a computer operator. --In 1966, Ussery and team built the software systems to convert demand deposits to the new IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) 360 computer. --In 1967, Ussery and team began to develop the software system to process the CB&T Charge Account Card. This system, under Ussery's leadership, would be the predecessor to the "Total System". --In 1968, Ussery was responsible for all new technologies at CB&T and installed systems to allow all banking applications to go online using a new IBM product called CICS/VS CICS/VS Customer Information Control System/Virtual Storage (IBM) . He also installed the first audio response unit in the world driven by CICS/VS. --In 1970, Ussery was promoted to assistant data processing officer. --In 1971, Ussery was promoted to assistant cashier. --In 1972, Ussery was promoted to assistant vice president. --In 1975, Ussery was promoted to vice president and operations officer. --In 1981, Ussery was promoted to senior vice president for the holding company, CB&T Bancshares. --In 1983, Ussery became the first president and chief executive officer of Total System Services, now TSYS. TSYS' success under Ussery's leadership: --TSYS became a public company in August 1983 and joined the NYSE in June of 1989. --TSYS grew from processing 2.7 million cardholder card·hold·er n. One who holds a card, especially a credit card. card hold accounts in 1983 to over 300 million in 2003. --TSYS grew from a net income of $2 million in 1983 to a net income of $141 million in 2003. --TSYS capitalization of $3 million in 1982 grew to market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of over $4.8 billion in 2003. --TSYS assets grew from $9 million in 1982 to over $1 billion in 2003. --TSYS revenues grew from $11.4 million in 1982 to over $1 billion in 2003. --TSYS received a compound growth rate of 22% or greater in accounts, revenues and net income for 21 consecutive years. --TSYS has had seven (7) stock splits since 1983 (100 shares in 1983 now total 5,400 in 2003). --Chief Executive magazine ranked Ussery as the 15th top CEO of service companies in creating shareholder value and return. --Ussery started the company with 124 team members; there are now more than 6,000. |
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