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An article relating to this blog post on Finextra:

First Data names Michael Capellas new CEO

US e-payments firm First Data says that Michael Capellas, former chief executive of MCI and Compaq, will become its new CEO when its buyout by private equity firm Kohlberg Kravis Roberts (KKR) is comp...


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The seven billion dollar man

Kohlberg Kravis Roberts has tapped Michael Capellas to take over as CEO of First Data when its $7 billion buy out goes through later this year.

Capellas made his name as a corporate turnaround artist, first at Compaq and then at MCI. On both occassions he served a short stint in the top seat, savaged costs and sold on the companies for a hefty fee.

Is this what KKR has in mind for First Data?

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