First Data Eyes Duques Successor

DENVER – First Data Corp. said last week it is reviewing three internal candidates to replace Chairman and CEO Henry C. ‘Ric’ Duques, who returned in November 2005 to lead the Denver-based processing giant. Duques told analysts during a conference call on Thursday that a board committee is working with an external group to find a new leader. Plans call for that person to be named in May or by the summer. The company was waiting to update stockholders on the search until after it had spun off its money transfer division, Western Union, in September, said Duques. He didn't name the candidates. Duques also said during Thursday's call that First Data planned next year to acquire firms outside the U.S. to build up its international division but he offered no further details. Duques came back for a two-year stint to revive First Data as some divisions stagnated and others remained in a holding pattern under former CEO Charles T. Fote. Duques had led First Data from 1992 until stepping down in 2002. Duques decided to spin off Western Union, revamped some divisions, put a greater focus on international expansion and returned the firm's focus to payments processing.