Credit bureau TransUnion CEO to retire in May 2019

Credit bureau TransUnion CEO to retire in May 2019

US consumer credit reporting agency TransUnion said on Wednesday Chief Executive Officer James Peck, who led the initial public offering of the company in 2015, will retire in May and be succeeded by Christopher Cartwright.

FILE PHOTO -  TransUnion Corp. President and CEO Jim Peck takes a photo of his company's logo
FILE PHOTO - TransUnion Corp. President and CEO Jim Peck takes a photo of his company's logo on the floor of the New York Stock Exchange before the company's IPO in New York, June 25, 2015. REUTERS/Lucas Jackson

REUTERS: US consumer credit reporting agency TransUnion said on Wednesday Chief Executive Officer James Peck, who led the initial public offering of the company in 2015, will retire in May and be succeeded by Christopher Cartwright.

Cartwright joined TransUnion in 2013 as vice president of the U.S. information services unit, while Peck served as the company's CEO for six years.

Under Peck, TransUnion's enterprise value rose from around US$3 billion in 2012 to over US$16 billion, the company said in a statement http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20181114:nGNX7f3GHf.

The company's market value was around US$12 billion based on 185.3 million shares outstanding as of Sept. 29, according to Refinitiv Eikon data.

TransUnion raised US$664.8 million in its IPO in June 2015, after the 29.5-million-share offering, which valued it at around US$4.5 billion.

The stock market listing came three years after private equity firm Advent International and Goldman Sachs Group Inc agreed to buy https://reut.rs/2qKiYP5 the company from Madison Dearborn Partners and the Pritzker family.

As of Tuesday's close, TransUnion's shares have risen 17 percent year-to-date, far outpacing the 15 percent decline in peer Equifax over the same period.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

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