Alliance Data Systems has approved a leadership succession plan. Under its terms, on March 1 J. Michael Parks will relinquish his CEO position, although he will remain chairman of the board of directors. Edward J. Heffernan, currently CFO and executive VP, will become president and CEO.
John W. Scullion, the current president and COO, will step down from both positions. According to spokesperson Shelley Whiddon, the company determined the COO position was no longer required, and it was no longer necessary to separate the role of president from CEO. Scullion will remain in a consultative role with Alliance Data for the next several months, Whiddon added.
Michael D. Kubic will serve as interim CFO while Alliance Data conducts a search for Heffernan
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