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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 8, 1997
SPS TRANSACTION SERVICES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-10993 36-3798295
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
2500 Lake Cook Road, Riverwoods, Illinois 60015
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (847) 405-3700
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Item 7. Financial Statements and Exhibits.
(c) Exhibits
20.1 Press Release of the Registrant dated May 9, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SPS TRANSACTION SERVICES, INC.
Date: May 8, 1997 By: /s/ Russell J. Bonaguidi
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Russell J. Bonaguidi
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EXHIBIT INDEX
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Exhibit
Number Description of Exhibits
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20.1 Press Release of the Registrant dated May 9, 1997.
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EXHIBIT 20.1
NEWS RELEASE
For Release: Immediate
Contact: Jean Fargo
Corporate Communications Mgr.
(847) 405-3953
SPS ANNOUNCES NEW CHAIRMAN, ORGANIZATION CHANGES
Riverwoods, Ill., May 9 1997 -- SPS Transaction Services, Inc. (NYSE:PAY)
announced today that Thomas C. Schneider, 59, has been elected Chairman of the
Board of Directors. Schneider succeeds Philip J. Purcell, who will remain on
the SPS Board.
Schneider has served as Chief Financial Officer and a Director of SPS
since its formation in 1992. He will continue in his role as CFO. He is also
Executive Vice President and Chief Financial Officer of Dean Witter, Discover &
Co. When the proposed merger of Dean Witter, Discover & Co. and Morgan Stanley
Group Inc. is completed, Schneider will be Chief Strategic and Administrative
Officer of the new company, Morgan Stanley, Dean Witter, Discover & Co.
Robert L. Wieseneck, SPS President and Chief Executive Officer, also
announced changes in responsibilities for several of the company's officers.
"These organizational changes are designed to define business unit
accountability as the company continues to grow," he said.
Robert W. Archer, formerly Senior Vice President, Sales, was named Senior
Vice President, Sales and Operations and will assume added management
responsibility for all SPS operations centers.
Richard F. Atkinson, formerly Senior Vice President, Operations, was named
Senior Vice President, Consumer Credit Card Services and Serge Uccetta,
formerly Vice President, Card Services, was named Vice President, Commercial
Accounts Services, giving each accountability for the performance of those
respective businesses.
David J. Peterson was promoted to the new position, Senior Vice President,
Commercial Technology Services. He will add responsibility for TeleServices and
company subsidiaries Med-Link Technologies, Inc. and Ruf Corporation to his
current Network Transaction Services and Corporate Development duties.
SPS Transaction Services, Inc., headquartered in Riverwoods, Illinois, is
a majority-owned subsidiary of Dean Witter, Discover & Co. The company provides
a range of technology outsourcing services including network transaction
processing, consumer private label credit card programs, commercial accounts
receivable processing and teleservices.
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