ATLANTA, May 9, 2011 – First Data Corporation, a global leader in electronic commerce and payment processing, today announced that Mark Herrington has been appointed executive vice president, Global Product Management and Innovation and is now a member of the company’s Executive Committee. Herrington has been leading Global Product Management and Innovation at First Data since early 2011 when the company consolidated its product groups into one globally aligned organization.
"Mark is an integral part of our plans for success going forward,” said First Data Chief Executive Officer Jon Judge. “He brings a wealth of experience and success in product innovation in high growth, technology-focused environments to his role, and is helping us establish a fully packaged suite of world-class products and solutions that we can distribute through all of our channels globally. It’s about delivering payment solutions that drive bottom line impact for our customers, and ensuring we have a robust portfolio of new and emerging products that will help shape the future of the global payments industry.”
“It truly is an exciting time at First Data, and within the global payments market overall,” said Herrington. “I am honored to join the extremely talented members of our Executive Committee and work with them to unleash the incredible value we can deliver to our customers during this transformational time in our industry. We’ve got all the right pieces to meet both the current and future needs of our financial institution and merchant customers around the world.”
Herrington has served in numerous leadership roles as First Data, including general manager of the company’s former Retail Solutions division with responsibility for overall P&L performance within this line of business, which included prepaid, TeleCheck, eCommerce and merchant loyalty.
Herrington came to First Data from Money Network, now a First Data company, which he co-founded in 2001. Under the leadership of Herrington and his team, Money Network experienced a compound annual growth rate (CAGR) of more than 80 percent since inception.
Prior to Money Network, he was executive vice president of the Americas for i2 Technologies, a Dallas-based enterprise software provider. During his seven years with i2, the company grew from $8 million in revenue to $1.1 billion. Prior to i2, Herrington spent eight years in sales and sales management positions with McCormick & Associates, American Software and Oracle Corporation.
He is a member of the board of directors for Emerge Memphis, which provides financial and management support for early stage companies, and holds a bachelor’s degree from the University of Memphis.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.