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MarketScreener Homepage  >  Equities  >  Nyse  >  FLEETCOR Technologies, Inc.    FLT

FLEETCOR TECHNOLOGIES, INC.

(FLT)
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FLEETCOR TECHNOLOGIES INC : Change in Directors or Principal Officers (form 8-K)

11/16/2020 | 03:09pm EST

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 16, 2020, the Board of Directors (the "Board") of FLEETCOR Technologies, Inc. (the "Company" or "FLEETCOR"), upon the recommendation of the Nomination and Governance Committee, voted to increase the size of the Board from nine to ten directors and appointed Archie L. Jones as a director to fill the vacancy. Mr. Jones will also serve on the Acquisition Committee and newly formed Nomination and Governance Committee. Mr. Jones's term will expire at the Company's 2021 annual meeting of shareholders.

Mr. Jones, 49, has served as a managing director at Six Pillars Partners, a private equity firm since September 2019. Mr. Jones formerly served as the chief financial officer for NOWaccount Network Corporation from 2014 to 2019. Since 2016, he has also served on the board of directors at 1st Choice Credit Union and recently joined the board of directors at Jobvite. Mr. Jones also serves as a senior lecturer at Harvard Business School and is involved in a number of non-profit organizations, including as the chairman of the board for Project Evident and as the vice chair of the board for Year Up. At the time of his appointment, the Board considered Mr. Jones's more than 20 years of experience as a leader in corporate M&A transactions and his expertise in executing other complex transactions including strategic alliances and joint ventures, his community ties, and his experiences serving on several large non-profit boards.

Mr. Jones was not elected pursuant to any arrangement or understanding with the Company or any other person, and there are no actual or proposed transactions between Mr. Jones or any of his immediate family members and the Company that would require disclosure under Item 404(a) of Regulation S-K in connection with his appointment as a director of the Company. The Board has affirmatively determined that Mr. Jones qualifies as an independent director as defined by the listing standards of the New York Stock Exchange and the Company's corporate governance guidelines.

In connection with his service on the Board, Mr. Jones will be entitled to the Company's customary non-employee director compensation package, commencing in January 2021. The Company also expects to enter into an indemnification agreement on the Company's standard form with Mr. Jones.

A copy of the press release issued by the Company on November 16, 2020 regarding the Mr. Jones's appointment is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 5.02.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 2 380 M - -
Net income 2020 687 M - -
Net Debt 2020 3 407 M - -
P/E ratio 2020 33,9x
Yield 2020 -
Capitalization 22 302 M 22 302 M -
EV / Sales 2020 10,8x
EV / Sales 2021 9,48x
Nbr of Employees 8 000
Free-Float 64,6%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 290,26 $
Last Close Price 267,41 $
Spread / Highest target 21,2%
Spread / Average Target 8,55%
Spread / Lowest Target -10,3%
EPS Revisions
Managers and Directors
NameTitle
Ronald F. Clarke Chairman, President & Chief Executive Officer
Charles Richard Freund Chief Financial Officer
Scott A. duFour Global Chief Information Officer
Mark A. Johnson Independent Director
Steven THeodere Stull Independent Director
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