New Entity Structure to Maximize Growth Opportunities for Ceridian HCM
MINNEAPOLIS, MN, Oct. 4, 2013 /CNW/ - Ceridian announces that it has
completed the legal separation of its Human Capital Management (HCM)
and Payments businesses. Ceridian completed the separation on October
1, 2013 through a series of transactions that result in the Payments
business being operated as Comdata Inc. ("Comdata"), and the HCM
business being operated as Ceridian HCM Holding Inc. ("Ceridian HCM").
Stuart C. Harvey, Jr. will serve as Chairman of the Board for both
Comdata and Ceridian HCM, as well as remaining as the Chief Executive
Officer of Comdata. Majority owners and financial partners, funds
affiliated with Thomas H. Lee Partners, L.P. and Fidelity National
Financial, Inc. remain the same for both Comdata and Ceridian HCM.
Ceridian HCM has seen tremendous market success in the last twelve
months. The award-winning Dayforce HCM cloud solution had approximately
750 live clients as of June 30, 2013. Dayforce HCM is a single
application for payroll, benefits, time, scheduling and human
resources. In addition, the LifeWorks Wellness solution has more than
14 million members using the web, phone, and mobile applications. David
Ossip will continue to lead Ceridian HCM as its Chief Executive
Officer, David MacKay as President and Lois Martin as Chief Financial
"The new structure enables our team to continue to innovate in human
capital management, helping our clients engage their employees and
create the most effective workforce possible," says David Ossip, CEO,
Ceridian HCM. "We will remain focused on delivering trusted results and
Comdata is a driving force in payment innovation in the fleet,
healthcare and retail industries. With leadership from Stuart Harvey as
Chief Executive Officer and Steve Stevenson as President and Chief
Financial Officer, Comdata continues to evolve card-based and virtual
payment products to serve the needs of its customers. This year,
Comdata launched several innovative products, including a mobile
application for gift cards, FleetAdvance, ConnectPay, and SmartSight.
Stevenson notes, "At Comdata, we are proud of our rich history and look
forward to this next chapter where we continue to develop leading
"This is an exciting time for both businesses to optimize momentum and
take advantage of its opportunities," adds Harvey. "Comdata is a leader
in global commercial payments and advanced data solutions, and Ceridian
HCM is transforming human capital management with the award-winning,
game-changing Dayforce HCM single application."
About Ceridian HCM
Ceridian HCM is a leader in human capital management with more than
100,000 clients in over 50 countries. Ceridian HCM delivers trusted
results and transformative technology. Our offering includes the award
winning, cloud-based Dayforce HCM, LifeWorks, PowerPay and
International Payroll. Ceridian HCM is transforming the world of work.
For more information about Ceridian HCM solutions, call 1-800-729-7655
or visit www.ceridian.com.
Comdata Inc. is a leading business-to-business provider of innovative
electronic payment solutions. As an issuer and a processor, Comdata
provides fleet, corporate payment, healthcare, virtual card, and
prepaid solutions to over 30,000 customers. Comdata's SVS division is a
global gift card and loyalty innovator that manages over 600 million
cards and processes over 1 billion transactions from over 45 countries
and in 26 currencies worldwide every year. Founded in 1969 and
headquartered in Brentwood, Tennessee with more than 1,200 employees
globally, Comdata enables over $60 billion in payment volume annually.
For more information about Comdata solutions, call 1-(800) 266-3282 or
SOURCE: Ceridian Canada Ltd.
For further information:
905-947-7251 (c) 647-388-2464
615-376-8601 (c) 615-804-4070