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Evertec names Swidarski to board

Thursday, December 18, 2014 — 18:29:13 (EST)

San Juan, Puerto Rico, Dec. 18, 2014 -- EVERTEC, Inc. (NYSE: EVTC) (“EVERTEC” or the “Company”) today announced that Thomas W. Swidarski has been appointed to the Company's Board of Directors (the “Board”) as an independent director and member of the Board’s Compensation Committee, effective December 17, 2014.

Mr. Swidarski’s career spans over 30 years in the financial services and payments industries. Most recently, from 2006 to 2013, he was Chief Executive Officer and President of Diebold, Inc. (NYSE: DBD), a global leader in providing integrated self-service transaction (ATMs) and security systems to the financial, commercial and retail markets in 100 countries. Prior to becoming Chief Executive Officer and President, Mr. Swidarski was Chief Operating Officer and President of Diebold, and served in various other senior strategic development and marketing capacities at Diebold since joining the company in 1996. Before joining Diebold, he worked in the banking industry for 16 years, including serving in senior marketing roles with PNC Bank.

Mr. Swidarski currently serves on the boards of two publicly-traded companies, Altra Industrial Motion Corp. (NASDAQ: AMIC) and Energy Focus, Inc. (NASDAQ: EFOI), as well as two privately held companies. Altra Industrial is a leading global design and manufacturer of quality power transmission and motion control products used in a variety of industrial applications. Energy Focus is both a leading provider of energy efficient LED lighting products and a developer of energy efficient lighting technology.

Frank G. D’Angelo, Chairman of the Board, said, "We are very pleased to welcome Tom to the Board. Tom is a seasoned senior executive with deep industry knowledge. Having served as CEO and President of Diebold, Tom brings significant international operating and management experience which should add to the success and growth of EVERTEC.”

The Company also announced that it reached a settlement agreement with Global Payments Inc., Morgan “Mac” Schuessler, Jr.’s prior employer, concerning Mr. Schuessler’s non-compete obligation. As a result, Mr. Schuessler will join the Company as President and Chief Executive Officer on April 1, 2015. Mr. D’Angelo will serve as Interim CEO for the period from January 1, 2015 until March 31, 2015. Mr. D’Angelo added, “EVERTEC reached a settlement with Global Payments regarding Mac’s hiring, thereby eliminating the uncertainty, costs and distraction that are inherent in litigation.”

Mr. D’Angelo has been Chairman of the Board of Company and its primary operating subsidiary, EVERTEC Group, LLC since February 2014, and a board member for both companies since September 2013. Mr. D’Angelo’s career spans over 35 years in the financial services industry, as well as in operations and management. He has held several executive management positions, including that of Chief Executive Officer and President at companies in the commerce networks, mobile banking and payments markets.

Additional details regarding the settlement agreement can be found in the Company’s Current Report on Form 8-K filed today.

About EVERTEC

EVERTEC, Inc. (NYSE: EVTC) is the leading full-service transaction processing business in Latin America, providing a broad range of merchant acquiring, payment processing and business solutions services. The largest merchant acquirer in the Caribbean and Central America—and one of the largest in Latin America—EVERTEC serves 19 countries in the region from its base in Puerto Rico. The Company manages a system of electronic payment networks that process more than 2.1 billion transactions annually, and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. In addition, EVERTEC owns and operates the ATH network, one of the leading personal identification number (“PIN”) debit networks in Latin America. The Company serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions. For more information, visit www.evertecinc.com .

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Source: Company press release.