Ceridian CEO to Retire in October 2006
Minneapolis, MN (April 12, 2006) – Ceridian Corporation (NYSE:CEN) announced today that Ronald L. Turner, Chairman, President and Chief Executive Officer, has informed the Company’s Board of Directors that he will retire from the Company effective October 1, 2006. The Board of Directors will immediately initiate a process to identify Mr. Turner’s successor among candidates from outside the Company. Upon his retirement as an executive officer of the Company, Mr. Turner will also resign on October 1, 2006 from the Company’s Board of Directors, as required by the Company’s Corporate Governance Policies and Guidelines.
“The Board is extremely grateful to Ron for his years of dedicated service. He has played a critical role at Ceridian starting in 1993, first leading the Company’s former defense electronics business, Computing Devices International, then as President and Chief Operating Officer, and for the past six years as Chief Executive Officer and Chairman of the Board,” said Ronald T. LeMay, the Chair of the Nominating and Corporate Governance Committee of the Board.
Mr. Turner said, “I am extremely proud of what we have accomplished in my years as Chairman and Chief Executive Officer, and firmly believe that when I retire this October the Company will be poised for the future. I will work with the Board to facilitate a smooth transition to new leadership. After discussions with the Board, we concluded that now was an appropriate time to initiate a transition. In September I will turn 60, and there are other challenges I would like to pursue, both professionally and personally.”
The Board also has elected L. White Matthews, III, a current member of its Board, to serve as its Chairman, effective April 15, 2006. Mr. Turner continues as President and Chief Executive Officer. Mr. Matthews will facilitate a smooth transition and the search for a successor. Mr. Matthews joined the Company’s Board on July 1, 2005. He has served as an officer and director of two public companies, Union Pacific Corporation and Ecolab, Inc. In addition to Ceridian, he currently serves as a director of Imation Corp. and Matrixx Initiatives, Inc.
Source: Ceridian
