First Data could be heading for a split

First Data could be heading for a split
Tags: Bank / Credit Union, Company Profiles, EFT Networks, Public Companies, Transaction Processing, Trends / Statistics, Underbanked / Unbanked
December 11, 2005

Rocky Mountain News: The surprise retirement of First Data CEO Charlie Fote, 56, is leading Wall Street to believe the company may try to boost shareholder value by breaking itself into pieces. The Greenwood Village, Colo.-based company's stock rose nearly 5 percent Nov. 28, after the announcement - the biggest one-day gain in three years. Ric Duques, whom Fote replaced in 2002, has returned from retirement to take the chief executive role. He said he'll hold that job for about two years as the company searches for a "world-class" CEO.