MINNEAPOLIS
,
October 11, 2022
(press release)
–
Deluxe, a Trusted Payments and Business Technology™ company, today announced the appointment of Chip Zint as Senior Vice President and Chief Financial Officer, effective October 17. Zint will succeed Scott Bomar, who is stepping down to assume a senior role at a former employer. Zint joined Deluxe in 2020 and has been serving as Vice President, Corporate Finance. In this role, Zint has been responsible for the company’s analytical, financial plans and policies, meeting regularly with the Board. Zint was instrumental in the company’s successful First American acquisition and has helped with sales driven revenue growth through the company’s One Deluxe model. Prior to joining Deluxe, Zint held senior finance roles with increasing responsibilities for nearly 14 years at NCR Corporation, most recently serving as vice president of Finance and CFO for the Hardware Division. “Chip has a great set of leadership, financial planning and analysis skills, which are complemented by a deep understanding of Deluxe and the broader Payments industry,” said Barry McCarthy, President and Chief Executive Officer of Deluxe. “Chip is a proven leader who has earned the confidence of the entire Board of Directors and management team. He is the right leader to help drive our financial future as a Payments and Data company.” “I am eager to continue the work already underway to advance our strategy and execute on our financial objectives,” said Zint. “I am grateful to Scott for his leadership during my time at the company, which has helped position me and the finance team for continued success.” Deluxe has established a deep pool of internal talent enabling the company to promote from within. Under McCarthy’s leadership, the company has created extensive succession planning that has allowed it to promote qualified individuals to assume leadership positions, providing for quick and seamless transitions. “I want to thank Scott for his contributions during his time as CFO of Deluxe. Since joining Deluxe, he has helped in accelerating our transformation while building a talented finance and accounting team. I wish Scott the best in his next chapter,” McCarthy continued. Deluxe also reaffirmed its financial outlook for the full year 2022: Full year revenue growth outlook is expected to be 10% to 12%, excluding the impact of business exits, or 8% to 10% as reported. Full year adjusted EBITDA rate is expected to be 18.5% to 19.0% with the fourth quarter rate being higher than the third quarter due to the company’s normal seasonality pattern. Capital expenditures of approximately $105 million. As previously noted, the guidance outlined above is subject to, among other things, prevailing macroeconomic conditions, anticipated continued supply chain constraints, labor supply issues, inflation, and the impact of recent divestitures.
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