Alliance Data Systems Corporation announced the following organizational changes, each effective as of June 5, 2019: Melisa Miller, who successfully led Alliance Data's Card Services business for over 8 years as president, was named Alliance Data's new president and chief executive officer, succeeding Ed Heffernan, who announced his resignation as president and chief executive officer and as a Director of the Company. Ms. Miller has also been appointed to the Alliance Data Board of Directors. Timothy King, who has served as Card Services' chief financial officer for the past 7 years, was named Alliance Data's new chief financial officer, succeeding previous CFO Charles Horn, who announced his pending retirement from that position in July of last year.

Mr. Horn has been appointed to serve on an interim basis as Vice Chairman of Alliance Data as the Company undergoes transitions leading up to and following the anticipated completion of the previously announced sale of the Epsilon business. Mr. Horn's responsibilities in the newly-created officer position include oversight of the Epsilon disposition process as well as various related initiatives designated by the Company's Board. Joseph Motes, currently the Company's general counsel and secretary, will serve as Alliance Data's chief administrative officer, in which capacity he will oversee a number of the Company's internal corporate functions and organizations in addition to his continuing responsibilities as general counsel.

The leadership changes were made pursuant to succession planning the Board of Directors implemented in anticipation of the completion of the sale of the Epsilon business, and additional initiatives under way designed to simplify Alliance Data's narrative and focus capital on the Company's higher earning and growth assets. At the Board's request, Board Chairman Rob Minicucci will, on an interim basis, personally oversee Alliance Data's leadership in connection with transitions at the Company related to the Epsilon disposition and other Board initiatives, with members of the leadership team reporting to him. While many functions will remain in Plano, Texas, it is expected that Card Services' current Columbus, Ohio, location will serve as the Company's headquarters.