Greene most recently served as vice president of sales and distribution for Financial Services at IBM, responsible for setting business development strategy and driving growth across the $24 billion banking, financial markets and insurance industry segment. Prior to that, he served for four years as general manager of IBM's Global Banking unit, the company's largest industry vertical, with responsibility for driving performance of the company's $14 billion, worldwide business portfolio of 1,200 banking clients. Before that, he led strategy and business development for IBM's Financial Services Strategy and Solutions division.
"After a thorough search process involving many strong candidates, Fair Isaac's board and executive leadership team enthusiastically agreed that Mark Greene is the right person to lead the company," said A. George (Skip) Battle, Fair Isaac's chairman of the board. "Mark is a proven leader who brings extensive global experience, a track record of driving growth, and genuine enthusiasm for Fair Isaac's people, technologies and vision. We're confident in Mark's ability to create more opportunities and value for our customers, employees and shareholders."
"Mark has built his reputation on his ability to inspire and lead growing, ambitious organizations to new heights of success," said Charles Osborne, interim CEO and chief financial officer at Fair Isaac. "He's also a technologist with a natural appreciation for the innovation, creativity and power built into our unique brand of technology - and he has a deep working knowledge of analytics. So, he's a great DNA match for Fair Isaac."
Earlier in his IBM career, Greene served as vice president of IBM's SecureWay software business group, focused on e-business infrastructure products, and played a central role in developing IBM's electronic commerce software strategy as co-founder of the company's e-commerce initiative now known as IBM WebSphere. Prior to joining IBM, he served in leadership roles with companies including Technology Solutions Company (New York, NY), Berkeley Investment Technologies and Citicorp. He began his career in 1982 as an economist with the Federal Reserve Board.
"It's an honor to join a truly great company that, through 50 years of relentless innovation, has had a profound and enduring impact on how businesses make decisions," said Greene. "Through my work in the banking and insurance industries, I'm very familiar with Fair Isaac and its remarkable role in the growth of global financial markets. I'm confident that we will have an even greater impact on how businesses in many industries make decisions in the future, and I look forward to joining forces with the exceptional people across this organization to accelerate the growth of Fair Isaac around the world."
Greene will assume his new duties immediately. He succeeds interim CEO Osborne, who will remain with the company as chief financial officer, a position he has held since 2004. Osborne assumed the role of interim CEO in November, 2006, following the resignation of former CEO Thomas Grudnowski.
Conference Call Details
Fair Isaac will hold a conference call for investors and media to discuss Greene's appointment tomorrow, Thursday, February 15 at 1:00 p.m. Eastern Time (12:00 p.m. Central time/10:00 a.m. Pacific time). The call can be accessed live on the Investor Relations section of the company's website at www.fairisaac.com, and a replay will be available approximately two hours after the completion of the call through March 15, 2007.
About Fair Isaac
Fair Isaac (NYSE:FIC) makes decisions smarter. The company's solutions and technologies for Enterprise Decision Management give businesses the power to automate more processes, and apply more intelligence to every customer interaction. Through increasing the precision, consistency and agility of their decisions, Fair Isaac clients worldwide increase sales, build customer value, cut fraud losses, manage credit risk, reduce operational costs, meet changing compliance demands and enter new markets more profitably. Founded in 1956, Fair Isaac powers hundreds of billions of decisions per year in financial services, insurance, telecommunications, retail, consumer branded goods, healthcare and the public sector. Fair Isaac also helps millions of individuals manage their credit health through the www.myfico.com website.
Fair Isaac Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Enterprise Decision Management strategy, its ability to recruit and retain key technical and managerial personnel, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, competition, regulatory changes applicable to the use of consumer credit and other data, the possibility that the anticipated benefits of acquisitions, including expected synergies, will not be realized, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2006, and quarterly report on Form 10-Q for the period ended December 31, 2006. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
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