STAMFORD, Conn., Nov. 22, 2010 - Affinion Group, Inc. ("Affinion" or “the Company"), a global leader in customer engagement solutions that enhance and extend the relationship of millions of consumers of financial service, retailing, hospitality and e-commerce companies, announced today that it has enhanced its executive team by naming Lloyd M. Wirshba, a financial services and consumer products executive, the President and CEO of Affinion North America.
Mr. Wirshba, who will report to Affinion’s Chairman and CEO Nathaniel J. Lipman beginning December 1st, will be leading the Company’s largest division, and responsible for $1.1 billion in annual revenue, more than 45 million consumer subscriptions in lifestyle, leisure and protection programs, and over 5,000 client relationships.
Mr. Wirshba joins Affinion from Barclays Bank PLC, where he has served as the Chief Executive Officer of Barclaycard US since 2007. While there, Mr. Wirshba was responsible for managing more than 7 million domestic credit card accounts and $11 billion in card receivables. He also led the development and rapid growth of Barclaycard’s customized, co-branded card programs for many of the most well-known companies in travel, entertainment, retail and financial services.
“We couldn’t be more pleased that an individual of Lloyd’s caliber is joining Affinion at a time when our opportunities for growth have never been more varied or more exciting,” said Lipman. “Lloyd’s extensive experiences in the financial services industries will ensure that our strategic direction is even more aligned to the needs of our clients, while his experiences in subscription-based products will ensure that our programs and services continue to address fundamental consumer needs in an extremely customer-centric manner.”
“I am delighted to be joining Affinion and, like Nat, am energized about our prospects for growth,” said Mr. Wirshba. “I look forward to working closely with our marketing partners in creating and delivering products and services which will deepen customer loyalty and provide consumers outstanding value.”
Continued Lipman, “With Lloyd joining the team, and the other upgrades we’ve made recently in the leadership of our loyalty and protection programs - two areas that are critical to our growth initiatives - I believe we will begin 2011 extremely well positioned to deliver against our near- and long-term priorities.”
In his previous experiences, Mr. Wirshba spent 21 years at American Express Company in leadership positions throughout the organization, including finance, operations, marketing, sales and business development, working in both the card issuance and merchant sides of the business. He also spent 2 years at AOL, where he was responsible for managing an organization of over 12,000 worldwide customer care consultants, providing acquisition, retention, billing and technical support services for the then 22 million member subscription base.
Immediately preceding his position at Barclays, Mr. Wirshba was at ICT Group, a global customer management and business process solutions company, where he was responsible for the strategic development and execution of growth and diversification initiatives. At ICT Group, he ran the business development and sales, information technologies, human resources and training, quality and compliance, strategic planning and marketing functions.
About Affinion Group
As a global leader with almost 40 years of experience, Affinion Group (www.affinion.com) enhances the value of its partners' customer relationships by developing and marketing loyalty solutions. Leveraging its expertise in customer engagement, product development and targeted marketing, Affinion provides programs in subscription-based lifestyle services, personal protection, insurance and other areas to help generate increased customer loyalty and significant incremental revenue for more than 5,550 marketing partners worldwide, including many of the largest and most respected companies in financial services, retail, travel, and Internet commerce. Based in Stamford, Conn., the company has approximately 4,250 employees and markets in 17 countries globally. Affinion holds the prestigious ISO 27001 certification for the highest information security practices, is PCI compliant and Cybertrust certified.Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions regarding industry outlook, Affinion's expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2011, the consummation of the acquisition of Prospectiv and the impact to Affinion's business and the other non-historical statements in the discussion and analysis. These statements can be identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "continues," "estimates," "predicts," "projects," "forecasts," and similar expressions. All forward-looking statements are based on management's current expectations and beliefs only as of the date of this press release and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks related to general economic and business conditions and international and geopolitical events, a downturn in the credit card industry or changes in the techniques of credit card issuers, industry trends, foreign currency exchange rates, the effects of a decline in travel on the Company's travel fulfillment business, termination or expiration of one or more agreements with its marketing partners or a reduction of the marketing of its services by one or more of its marketing partners, the Company's substantial leverage, restrictions contained in its debt agreements, its inability to compete effectively, and other risks identified and discussed from time to time in Affinion's reports filed with the SEC, including Affinion's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Readers are strongly encouraged to review carefully the full cautionary statements described in these reports. Except as required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements to reflect events or circumstances after the date of this press release, or to reflect the occurrence of unanticipated events or circumstances.