American Express Executive Brings Tremendous Corporate Payment and Business Travel Expertise to Company
REDMOND, Wash., July 29, 2008 − Concur (NASDAQ: CNQR), the world's leading provider of on-demand Employee Spend Management services, today announced the appointment of Ed Gilligan to its board of directors. Mr. Gilligan's appointment is in conjunction with American Express's equity investment in Concur, announced separately today. Robert T. Abele, a director with Concur since 2006, and Michael Hilton, a founder and director with Concur since 1993, will step down from the Concur board of directors on July 29, 2008.
“As vice chairman of American Express Company, Ed is a world-class executive whose vast experience in our industry is matched only by his energy and passion for delivering world-class products and services,” said Steve Singh, chairman and CEO of Concur. “As Concur continues to grow and set the pace for T&E expense management, Ed’s global perspective and industry insight will be invaluable.”
Singh continued, “On behalf of the Board of Directors, we extend our gratitude to Rob and Mike for their service as directors. Rob’s experience in the corporate payments industry was invaluable to our business and the breadth of his business experience and guidance as a director served our company and our shareholders well. It would be difficult to quantify the value that Mike has delivered as a director. He has helped guide our company from a 2 person startup to the market leader in the Employee Spend Management market and helped to grow shareholder value from virtually nothing to more than $1.5 billion. Mike will continue to serve our company, our customers and our shareholders as Executive Vice President of Marketing.”
Ed Gilligan is vice chairman of American Express Company, responsible for the company’s global business-to-business group, which includes Global Commercial Card, Global Merchant Services, Global Network Services, and Global Business Travel businesses of American Express. He is a member of American Express’s Operating Committee, which is responsible for developing the strategic direction for American Express and determining policies affecting the company overall. Ed joined American Express in 1980 while studying for his BS in Economics and Management at New York University. He began his full time service with the company in 1982. He was named a vice president of Business Travel in March 1988. He went on to become a senior vice president of Commerical Card and Business Travel for the Eastern Region of the United States in June 1992. He assumed the role of business unit president for Commercial Card and Business Travel for the United States in June 1995. In June 2002. Ed was named one of two group presidents at the company, overseeing the international consumer card business and the global portfolio of payment and travel services offered to corporate clients worldwide.
“I am excited to join Concur’s board as I believe it is a company with excellent products and services, a history of innovation and tremendous growth prospects,” said, Mr. Gilligan.
Concur is a leading provider of on-demand Employee Spend Management services. Concur enables organizations to globally control costs by automating the processes they use to manage employee spending. Concur’s end-to-end solutions seamlessly unite online travel booking with automated expense reporting, streamline meeting management and optimize the process of managing vendor payments, employee check requests and direct reimbursements. Organizations of all sizes trust Concur to help them control spend before it occurs while eliminating paper and optimizing supplier relations. Concur’s unified approach to managing employee spend delivers a 360° view into all employee expenses, helping companies globally enforce policies and monitor vendor compliance, while delivering unprecedented control and valuable insight. Concur's suite of on-demand services reach millions of employees across thousands of organizations around the world -- streamlining business processes, reducing operating costs, improving internal controls and providing enhanced visibility and actionable expense analysis. More information about Concur is available at www.concur.com.
Stefanie Johansen, Weber Shandwick for Concur, 206-399-7833, SJohansen@WeberShandwick.com
John Torrey, Concur, 425-497-5986, firstname.lastname@example.org