Metavante Holding Company ("Metavante"), a wholly owned subsidiary of Marshall & Ilsley Corporation (NYSE:MI) ("M&I") that will become a publicly traded company, to be renamed Metavante Technologies, Inc., upon the completion of its spin-off from M&I, today announced the election of ten members of its Board of Directors.
After the completion of the spin-off from M&I, which is currently expected to occur on Nov. 1, 2007, Metavante's Board of Directors will be comprised of: Dennis J. Kuester (Chairman of the Board), Frank R. Martire, Michael D. Hayford, Ted D. Kellner, David A. Coulter, L. Dale Crandall, Stephan A. James, Dianne M. Neal, James Neary and Adarsh Sarma.
Messrs. Kuester, Martire, Hayford and Kellner have served on Metavante's Board of Directors since May 2007. Messrs. Kuester and Kellner also serve on M&I's board of directors. Mr. Martire is the President and Chief Executive Officer of Metavante Corporation, the financial technology company that will be the principal Metavante subsidiary after the spin-off, and Mr. Hayford is Senior Executive Vice President and Chief Operating Officer of Metavante Corporation.
Effective Oct. 26, 2007, the following directors took their seats on the Board:
Dale Crandall, 65, is the former President and Chief Operating Officer of Kaiser Foundation Health Plan, Inc., and Kaiser Foundation Hospitals. Mr. Crandall also serves on the board of directors of Ansell, Limited; BEA Systems, Inc.; Covad Communications; Coventry Health Care, Inc.; The Dodge & Cox Mutual Funds; and UnionBanCal Corporation.
Stephan A. James, 61, is the former Chief Operating Officer of Accenture Ltd. Mr. James also served as Vice Chairman of Accenture Ltd. from 2001 to 2004 and held an advisory position of International Chairman of Accenture from August 2004 until August 2006. Mr. James currently serves as a director of The Staubach Company, and is a member of the University of Texas McCombs School of Business Advisory Board.
Dianne M. Neal, 47, is the Executive Vice President and Chief Financial Officer of Reynolds American Inc. Ms. Neal joined Reynolds Tobacco in 1988. She became Executive Vice President of R. J. Reynolds Tobacco Holdings, Inc. and R. J. Reynolds Tobacco Company in July 2003. On the creation of Reynolds American Inc., Ms. Neal was namam named the Executive Vice President and Chief Financial Officer of RAI in August 2004. Ms. Neal is a member of the board of directors of LandAmerica Financial Group, Inc. and the Reynolda House Museum of American Art.
Effective Nov. 1, 2007, Messrs. Coulter, Neary and Sarma will take their seats on the Board. Messrs. Coulter, Neary and Sarma are representatives of WPM L.P., a limited partnership organized by a private equity investment fund managed by Warburg Pincus LLC, which will own 25% of the outstanding stock of Metavante following its separation from M&I.
Detailed biographical information about Messrs. Coulter, Hayford, Kellner, Kuester, Martire, Neary and Sarma, can be found in Metavante's registration statement on Form S-4 filed with the Securities and Exchange Commission on May 22, 2007, as amended and declared effective.