KANSAS CITY, Mo., Dec. 7, 2011 /PRNewswire/ -- DST Systems, Inc. (NYSE: DST) announced today that Michael G. Fitt, who has served as a member of the Company's Board of Directors since 1995 and has served as the Board's Lead Independent Director since 2004, is retiring from the Board, effective December 15, 2011. Mr. Fitt is looking forward to enjoying his retirement.
"On behalf of the Board and the Company, I thank Mike for his 16 years of distinguished service to DST and his tireless efforts to help position the Company for success," said Thomas A. McDonnell, Chief Executive Officer of DST. "Mike has long been a valued member of the Board, and we wish him only the best in his retirement."
In connection with Mr. Fitt's retirement, Robert T. Jackson, 65, will become the new Lead Independent Director for the Board. Mr. Jackson has served as a member of the Board since 2007. He is the former principal financial officer and an administrative officer of American Century Investments, an investment management company. Prior to joining American Century, Mr. Jackson held various leadership positions in Kemper Corporation, a financial services company.
The Company noted that the Corporate Governance/Nominating Committee of the Board has determined to retain Spencer Stuart, a leading, global executive search firm, to identify qualified, independent director candidates to fill at least two seats on the Board. The committee intends to recommend the nomination of individuals with the skills and attributes that will add value to the Board's oversight, strategic input, and deliberative process.About DST Systems, Inc. DST Systems, Inc. provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiency, and provide higher levels of customer service. For more information, please visit the Company's website at www.dstsystems.com.
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