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WageWorks Appoints George P. Scanlon to Board of Directors

Names Izzy Dawood as Chief Financial Officer 

SAN MATEO, Calif., Oct. 25, 2018 (GLOBE NEWSWIRE) -- WageWorks, Inc. (NYSE: WAGE), a leader in administering Consumer-Directed Benefits, today announced the appointment of George P. Scanlon to the Board of Directors.  In addition, Interim CFO Izzy Dawood was appointed as WageWorks’ Chief Financial Officer effective October 15, 2018. Mr. Dawood has been with the Company since April 2018. 

Stuart C. Harvey Jr., WageWorks’ Executive Chairman stated, “We are pleased to welcome George Scanlon as an independent director to our Board.  George has meaningful leadership, operational and financial experience at high-growth business services organizations.  We look forward to leveraging his experience as a member of our Board and audit committee.” 

George P. Scanlon is an accomplished executive and private investor who served as Chief Executive Officer of Fidelity National Financial, Inc. (NYSE: FNF) from October 2010 through December 2013. Scanlon joined FNF as Chief Operating Officer in June 2010 from FIS, where he served as Executive Vice President, Finance. Prior to the acquisition by Fidelity National Information Services of Metavante Corporation in October 2009, he served as the Chief Financial Officer for FIS. Previously, he served as the Chief Financial Officer for BFC Financial Corporation and Levitt Corporation.  In addition to WageWorks, Scanlon currently serves on the boards of Landstar System (NASDAQ: LSTR) and Cyndx Holdco Inc. (private financial technology firm). 

WageWorks also announced that John Larson resigned from his position as a Class II director of the Board of Directors for reasons related to his and his wife’s health, effective October 24, 2018.  Mr. Harvey stated, “WageWorks has benefited from John’s insight and expertise in helping to grow and scale the Company over the last 18 years as a member of the Board of Directors.  On behalf of the Board, we would like to thank him for his many contributions.” 

WageWorks also announced that Tom Bevilacqua has been appointed as Lead Independent Director of the Board of Directors.  As a member of the Board since November 2009, Tom has served on the compensation committee since February 2010 and the nominating and corporate governance committee since February 2011. 

Board succession and an appropriate balance of renewal and experience, including diversity and independence, continue to be a focus of the WageWorks Nominating and Corporate Governance Committee and the Board. As part of that process, the Company continues to search for additional independent Board candidates to join the Board, and has engaged Trewstar Corporate Board Services firm to do so.

In addition, WageWorks announced the appointment of Izzy Dawood as Chief Financial Officer, effective October 15, 2018.

“We are excited to appoint Izzy as our CFO.  Over the last six months, we have benefited from his experience, strong leadership and focus on execution.  His expertise will be key as we continue executing our strategy and moving the Company forward,” said Mr. Edgar Montes, WageWorks’ President and Chief Executive Officer.

Prior to joining WageWorks as Interim CFO, Mr. Dawood served as the Chief Financial Officer of Santander Consumer USA Holdings Inc. from 2015 to 2017. Mr. Dawood also served in various roles at The Bank of New York Mellon Corporation (BNY Mellon) beginning in 2006, culminating in his role as Executive Vice President and Chief Financial Officer of the Investment Services division.  Prior to his tenure at BNY Mellon, he also served in various senior roles at Wachovia Corporation, where he was employed from 1994 to 2006, including Managing Director of Structured Treasury Activities and Managing Director of Corporate Development.

About WageWorks

WageWorks, Inc. (NYSE: WAGE) is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. For more information, visit www.wageworks.com.

Media Contact:
Elizabeth Anderson 
WageWorks, Inc. 
972.984.0800 
Elizabeth.Anderson@Wageworks.com

Investor Contact:
Michael Smiley
650.577.5303
Michael.Smiley@wageworks.com

Staci Mortenson
ICR
203.682.8273
Staci.Mortenson@icrinc.com  

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WageWorks, Inc.