Blackhawk Network Holdings announces Robert Henske and Jeffrey Fox to its Board as upcoming Independent Directors

– USA, CA – Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) today announced that the upcoming addition of Robert Henske and Jeffrey H. Fox to its Board of Directors, as independent directors effective no later than April 24, 2017. These two directors will be on Blackhawk’s slate of directors nominated for election to the Board of Directors at the Company’s 2017 Annual Meeting, along with eleven incumbents, pursuant to an agreement with JANA Partners LLC. The Board will increase to thirteen members from the current eleven.

In addition, Jerry Ulrich, the Company’s Chief Financial Officer, announced that he plans to retire by the end of this year after 11 years with the Company. The Company has initiated a search to identify a replacement for Ulrich, with assistance from Mr. Henske and other Board members. The Company also reaffirmed all previous 2017 guidance. “We’re very grateful to Jerry for his significant contributions to the success of Blackhawk,” said Talbott Roche, Chief Executive Officer of Blackhawk. “Jerry has been a great leader, colleague and friend, and I appreciate his strong commitment to the Company.”

Mr. Ulrich added, “I’ve been honored to be part of a great team at Blackhawk and look forward to assisting the Company with the search and transition process.”

Barry Rosenstein, Managing Partner of JANA Partners, said, “We have appreciated our constructive dialogue with Bill Tauscher, Talbott Roche and their team. We believe that all Blackhawk stockholders will benefit from Jeff’s and Robert’s experience as the Company enhances its operational efficiency, including through the creation of the Cost Savings Committee, and makes the other value-creating enhancements announced today.” JANA Partners currently owns approximately 4.7 percent of the Company’s outstanding common stock.

About Jeffrey H. Fox

Jeffrey H. Fox is a principal of The Circumference Group LLC, an investment and advisory firm which he founded in 2009. Mr. Fox was President and Chief Executive Officer of Convergys Corporation from 2010 to November 2012, and then Executive Chairman until April 2013. Previously, Mr. Fox worked for Alltel Corporation as Chief Operating Officer from 2007 through 2008, and as a Group President from 1996 until 2007. Prior to joining Alltel, Mr. Fox worked in investment banking for ten years with Stephens Inc., preceded by two years with Merrill Lynch, specializing in mergers and acquisitions advisory services. Mr. Fox also currently serves as non-executive Chairman of the Board of Convergys Corporation (NYSE:CVG) and as a member of the Board of Avis Budget Group, Inc. (NASDAQ:CAR).

About Robert B. Henske

Robert B. Henske served as a Managing Director at Hellman & Friedman LLC from July 2007 through 2014, and as a Senior Advisor from 2014 to 2016. From May 2005 until July 2007, he served as Senior Vice President and General Manager of the Consumer Tax Group of Intuit Inc. He was Intuit’s CFO from January 2003 to September 2005. Prior to joining Intuit, he served as Senior Vice President and CFO of Synopsys, Inc., a supplier of electronic design automation software, from May 2000 until January 2003. From January 1997 to May 2000, Mr. Henske was a partner at Oak Hill Capital Management, a Robert M. Bass Group private equity investment firm. Prior to that he was a Partner at Bain & Company. Mr. Henske has served as a director of VeriFone Systems, Inc. (NYSE:PAY) since January 2005.

About Blackhawk Network Holdings, Inc.

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) is a leading global stored value and payments provider, which supports the program management and distribution of gift cards, telecom products, and financial services products in retail, digital and incentive channels. Blackhawk’s digital platform enables the management of stored value products, promotions, and loyalty programs across a network of digital distribution partners including retailers, financial service providers, and mobile wallets.

For more information : http://www.blackhawknetwork.com

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Talent4Boards Team

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