Fidelity National Financial, Inc. Announces Chief Executive Officer and President Transition
Jacksonville, Fla. -- (November 8, 2013) -- Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance, mortgage services and diversified services, today announced that Chief Executive Officer George P. Scanlon will be transitioning from that role effective December 7, 2013. Additionally, current President, Raymond R. ("Randy") Quirk has been named the company's new Chief Executive Officer and Brent B. Bickett, Executive Vice President, Corporate Finance has been named the company's President, both effective December 7, 2013.
"George has done an excellent job leading the company for the last three years and the company's profitability and shareholder returns have improved under his leadership," said Chairman William P. Foley, II. "As we are working towards the closing and integration of Lender Processing Services, Inc. ("LPS"), we have decided to reallocate the CEO responsibilities to Randy and Brent."
"Randy has been with FNF for nearly 30 years and will continue to manage the title insurance business as part of his expanded responsibilities as CEO. Brent has been with the company for nearly fifteen years, managing our merger & acquisitions efforts. Brent's expanded role will include primary responsibility for FNF's portfolio of companies, including Remy, American Blue Ribbon Holdings, J. Alexander's, Ceridian and Digital Insurance. We are confident that Randy and Brent will continue to positively impact our company in their expanded leadership roles. We wish George the best in his future endeavors and plan to work with him to develop a consulting arrangement with FNF or one of our portfolio companies."
Fidelity National Financial, Inc. (NYSE:FNF), is a leading provider of title insurance, mortgage services and diversified services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF owns a 55% stake in American Blue Ribbon Holdings, LLC, a family and casual dining restaurant owner and operator of the O'Charley's, Ninety Nine Restaurant, Max & Erma's, Village Inn, and Bakers Square concepts. FNF also owns an 87% stake in J. Alexander's, LLC, an upscale dining restaurant owner and operator of the J. Alexander's and Stoney River Legendary Steaks concepts. In addition, FNF also owns a 51% stake in Remy International, Inc., a leading designer, manufacturer, remanufacturer, marketer and distributor of aftermarket and original equipment electrical components for automobiles, light trucks, heavy-duty trucks and other vehicles. FNF also owns a minority interest in Ceridian Corporation, a leading provider of global human capital management and payment solutions. More information about FNF can be found at www.fnf.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President and Treasurer, 904-854-8120,