FLEETCOR (FLT) Adds a New Member to Board of Directors
FLEETCOR Technologies, Inc. FLT yesterday announced that Archie L. Jones, Jr. has joined the company’s board, effective Nov 16. He will also be serving as a member of the Nominating and Corporate Governance Committee and Executive and Acquisitions Committee.
Archie Jones serves as managing director of Six Pillars Partners, a private equity firm investing in high-growth companies. Jones is a professor of Entrepreneurial Management and Finance to MBA students at Harvard Business School. Prior to Six Pillars Partners, Jones served in executive positions at private equity, public and private companies including NOWaccount Network Corporation, IBM, Kenexa and Parthenon Capital. Additionally, Jones serves on the board of several corporations and non-profits.
Considering his work expertise, Jones' appointment is expected to boost FLEETCOR’s business operations in the payments industry.
Notably, Ron Clarke, chairman and chief executive officer at FLEETCOR, stated, "We are excited to welcome Archie as a new independent member of our Board." He further added, "Archie’s diverse background encompassing investing, corporate development, financial management, and teaching will be quite additive to the FLEETCOR board. Additionally, his extensive M&A experience across a variety of industries will be a great asset to us as we evaluate new deals."
Zacks Rank and Stocks to Consider
FLEETCOR currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are ICF International ICFI, Automatic Data Processing ADP and Insperity NSP, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share (three to five years) growth rate for ICF International, Automatic Data Processing and Insperity is 10%, 12% and 15%, respectively.
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