For release: 01 Mar 2005
EDS and Towers Perrin Launch New Joint Business: ExcellerateHROTM
ExcellerateHRO Combines the Technology and Business Process Expertise of EDS With the HR Domain Expertise of Towers Perrin; Names Board of Directors
PLANO, Texas and STAMFORD, Conn. – EDS and Towers Perrin today announced the launch of their new human resources outsourcing business, ExcellerateHRO.
On January 18th, EDS and Towers Perrin announced their intention to create a new company to deliver a comprehensive range of human resources (HR) outsourcing services to enterprises, HR departments, employees and retirees. The transaction closed March 1st.
The new company – ExcellerateHRO – combines Towers Perrin's Administration Solutions business, which provides pension and health and welfare administration services, and EDS' existing payroll and related HR outsourcing business to deliver an extensive portfolio of HR outsourcing solutions on a global scale.
ExcellerateHRO launches as a major player in the expanding HR outsourcing space, with annual global revenues of about $600 million, and more than 400 clients in the U.S., Canada, Europe, and Central and South America. In total, ExcellerateHRO will serve more than 33 million active and retired plan employees and participants.
“Beginning today, our clients as well as companies operating around the world can rely on our unique capabilities to solve their human resource challenges so they can focus on their core business,” said Steve Bohannon*, the newly-named CEO of ExcellerateHRO. “This new company combines the heritage of EDS' global technology capabilities and the HR domain expertise of Towers Perrin.”
“EDS' global scale, technology expertise and reputation for delivery combined with Towers Perrin's deep HR consulting expertise position ExcellerateHRO as a unique provider of informed HR outsourcing services,” said Bob Hogan, Managing Director, Towers Perrin.
ExcellerateHRO's portfolio presents a comprehensive set of HR outsourcing solutions across the core areas of benefits administration services, payroll, compensation administration, workforce administration and relocation, recruitment and staffing, and workforce development.
Through a marketing alliance, Towers Perrin will provide HR consulting services to ExcellerateHRO clients to enhance the value and cost effectiveness of the outsourced solutions. This combination of expertise offers clients a seamless and integrated way to meet their needs across the entire human resource spectrum.
ExcellerateHRO Names Board of Directors
EDS and Towers Perrin also announced the members of the new company's Board of Directors, consisting of:
- Steve Schuckenbrock, EDS Executive Vice President Global Sales & Client Solutions will serve as the chair of ExcellerateHRO's board of directors.*
- Steve Bohannon, CEO of ExcellerateHRO
- Bob Hogan, Managing Director, Towers Perrin
- Joe Eazor, EDS Vice-President and General Manager, Business Process Outsourcing Services
- Tom Egan, EDS Vice-President of Business Process Outsourcing Service Delivery
In addition to the HR services delivered through ExcellerateHRO, EDS' business process outsourcing unit also provides other enterprise shared services including finance and accounting and supply management services. ExcellerateHRO also builds on EDS' heritage of delivering customer relationship management (CRM), government healthcare and financial services BPO to a large base of global clients.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations around the world to improve their performance through effective people, risk and financial management. Through its HR Services business, Towers Perrin provides global human resource consulting that helps organizations effectively manage their investment in people. Areas of focus include employee benefits, compensation, communication, change management, employee research and the delivery of HR services. The firm’s other businesses are Reinsurance, which provides reinsurance intermediary services, and Tillinghast, which provides management and actuarial consulting to the financial services industry. Together, these businesses have over 5,000 employees and 78 offices in 76 cities in 24 countries. More information about HR Services is available at www.towersperrin.com.
About EDS
EDS provides a broad portfolio of business and technology solutions to help its clients worldwide improve their business performance. EDS’ core portfolio comprises information-technology, applications and business process services, as well as information-technology transformation services. EDS’ A.T. Kearney subsidiary is one of the world's leading high-value management consultancies. With more than $20 billion in annual revenue, EDS is ranked 87th on the Fortune 500. The company’s stock is traded on the New York (NYSE: EDS) and London stock exchanges. Learn more at eds.com.
*Schuckenbrock left EDS/ExcellerateHRO in May 2006.
*Bohannon left ExcellerateHRO in August 2006.
About ExcellerateHRO
ExcellerateHRO offers a flexible portfolio of human resources (HR) outsourcing services on a global basis to mid-size and large employer organizations. The jointly-owned company combines the outsourcing experience of EDS with Towers Perrin’s HR expertise to provide benefits administration, compensation administration, payroll, recruitment and staffing, relocation, workforce administration and workforce development. Learn more at www.excelleratehro.com.
ExcellerateHRO and the ExcellerateHRO logo are trademarks of ExcellerateHRO LLP. All other brand or product names are registered marks of their respective owners. ExcellerateHRO is a licensee of the Towers Perrin marks. ExcellerateHRO is an equal opportunity employer and values the diversity of its people. Copyright 2005 ExcellerateHRO. All rights reserved.
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