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Wright Express Announces Executive Promotions and Organizational Changes
Fleet Card Industry Veterans David Maxsimic and Melissa Smith Promoted to
Newly Created Executive Vice President Positions;
George Hogan Named Senior Vice President and Chief Information Officer
SOUTH PORTLAND, Maine, Nov. 5 /PRNewswire-FirstCall/ -- Wright Express Corporation (NYSE: WXS) today announced promotions and changes in the Company's senior management organization intended to accelerate execution of its growth strategy.
Reflecting the Company's growth and continued expansion in the corporate payment processing and information management services market, Wright Express has promoted two members of its senior management team to newly created executive vice president positions:
- David D. Maxsimic, senior vice president, sales and marketing, has been promoted to executive vice president, sales and marketing. Maxsimic will continue to lead the Company's fleet and Master Card sales, marketing, and product operations, while adding responsibility for strategic initiatives and new operations, including TelaPoint, which was acquired earlier this year.
- Melissa D. Smith, senior vice president, finance, and chief financial officer, has been promoted to CFO, and executive vice president, finance and operations. Smith will continue to oversee the Company's finance activities, including its Utah-based industrial bank operation, while adding responsibility in other functional areas, including information technology and client services operations.
"David and Melissa are outstanding leaders who have made significant contributions to our growth over the years," said Michael E. Dubyak, president and chief executive officer of Wright Express. "Their promotions to these important new positions reflect the confidence that our Board of Directors and I have in their capabilities and their dedication to our future success."
The Company also announced that George W. Hogan has been promoted to senior vice president and chief information officer reporting to Smith. Hogan joined Wright Express in 2007 as vice president of enterprise architecture. He previously was vice president, commercial loyalty and back office application development at Visa USA/Inovant, where he was responsible for all software development across the Visa Commercial/Corporate, Loyalty and Back Office business lines. Hogan replaces Tod A. Demeter, who will be leaving the Company.
"Tod has been a valued member of our team, and we wish him well in his future endeavors," said Dubyak. "George Hogan brings us strong leadership skills and extensive experience in both the technology and the credit card industries. Our entire organization looks forward to benefiting from George's expertise as we pursue increasingly customer-driven market opportunities that will drive our future growth."
About Wright Express
Wright Express is a leading provider of payment processing and information management services to the U.S. commercial and government vehicle fleet industry. Wright Express provides these services for approximately 300,000 commercial and government fleets containing 4.4 million vehicles. Wright Express markets these services directly as well as through more than 125 strategic relationships, and offers a MasterCard-branded corporate card. The Company employs more than 675 people and maintains its headquarters in South Portland, Maine. For more information about Wright Express, please visit http://www.wrightexpress.com.
This press release contains forward-looking statements, including statements regarding Wright Express Corporation's pursuit of customer-driven market opportunities and future execution of its growth strategy. These forward-looking statements include a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: volatility in fuel prices and fueling patterns; the effect of the Company's fuel-price-related derivative instruments; effects of competition; the potential loss of key strategic relationships; decreased demand for fuel and other vehicle products and services and the effects of general economic conditions on the commercial activity of fleets; the Company's ability to rapidly implement new technology and systems; recent and potential corporate transactions including alliances, mergers, acquisitions and divestitures; changes in interest rates and the other risks and uncertainties included from time to time in the Company's filings with the Securities and Exchange Commission, including the annual report on Form 10-K filed on February 28, 2007, and the Company's other periodic and current reports. Wright Express Corporation undertakes no obligation to update these forward-looking statements at any future date or dates.SOURCE Wright Express Corporation
CONTACT: News media contact, Jessica Roy, +1-207-523-6763
Jessica_Roy@wrightexpress.com, or Investor contact, Steve Elder
both of Wright Express
/Web site: http://www.wrightexpress.com