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DST Systems Chief Executive Officer Thomas McDonnell To Retire; Board Of Directors Appoints Stephen Hooley Chief Executive Officer

Stocks in this article: DST

KANSAS CITY, Mo., Sept. 12, 2012 /PRNewswire/ -- DST Systems, Inc. (NYSE: DST) today announced that Thomas A. McDonnell is retiring from the company on December 31, 2012.  The DST Board of Directors has unanimously appointed Stephen C. Hooley, currently President, Chief Operating Officer and a director of DST, to succeed Mr. McDonnell as Chief Executive Officer and President, effective immediately.  Mr. McDonnell will serve as non-executive Chairman through his planned retirement.

Mr. McDonnell said, "For more than 40 years, I have had the privilege of serving and leading DST.   Today DST is a leading global provider of information processing and software services and products with 13,000 employees around the world.  I am extremely proud of everything we have accomplished, including the company's significant growth and leadership in innovation." 

Robert Jackson, Lead Independent Director of the DST Board of Directors, said, "On behalf of the Board of Directors and the entire DST organization, I want to thank Tom for his countless contributions to the company and the Kansas City community over the past 40 plus years. Tom has been instrumental to the success of DST and in all facets of our business.  His decision to retire was made with much thought and consideration, and we appreciate and respect his decision.  We thank Tom for his innumerable contributions to DST, and wish him all the best in retirement.  We appreciate that Tom will remain with DST through the end of the year, and look forward to continuing to benefit from his wisdom and energy." 

Mr. McDonnell continued, "I have worked closely with the Board to plan for the right management succession at DST, and I am confident that Steve Hooley is the best person to lead DST through its next phase of growth and development.  Steve has the experience, talent and energy to drive DST to new successes, and I look forward to continuing to work closely with him at the Board level to ensure a smooth transition."

Mr. Jackson added, "Steve has served with distinction in all his roles since joining DST in 2009.  Steve has deep industry experience, extensive knowledge of each of DST's businesses, and well-established relationships with our customers, employees and partners.  The DST Board unanimously believes he is the right person to succeed Tom as CEO and we look forward to working closely with Steve in his new role."

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