FIS (NYSE:FIS), a world chief in monetary providers know-how, introduced immediately the appointment of Stephanie L. Ferris as President and Chief Government Officer (CEO).
Along with her present function as President, Ferris will take over as CEO from Gary A. Norcross who has served as the corporate’s CEO for the final eight years and Chairman since 2018. Ferris will assume the President and CEO function on January 1, 2023, when Norcross takes on the function of Government Chairman of the Board. Ferris was additionally appointed to the FIS Board of Administrators.
In her function as FIS President, Ferris has been chargeable for steering and executing the corporate’s world enterprise technique, together with M&A, and its world enterprise operations serving monetary establishments, retailers and corporates of all sizes and geographies. A 28-year {industry} veteran with experience in funds, know-how platform companies and driving digital transformation, Ferris led the mixing of Worldpay into FIS, surpassing each income and price synergy commitments. She has been integral to FIS’ world development which at the moment helps greater than 14,000 shoppers in over 100 international locations.
“Frequently rising and creating FIS management expertise, together with succession planning, has remained a key focus of my agenda with our Board,” said FIS Chairman and CEO Gary Norcross. “Since becoming a member of FIS, Stephanie has frequently demonstrated large management and daring actions in achievement of our targets. The Board and I are extraordinarily assured in her capability to steer FIS in its subsequent chapter of development and transformation.”
FIS additionally introduced that Norcross, present CEO and Chairman of the Board of Administrators, will assume a brand new full-time function as Government Chairman of the Board. Below Norcross’ management, FIS has delivered constant and worthwhile monetary efficiency rising from a $6 billion enterprise to the $14 billion world enterprise it’s immediately. Throughout his tenure as CEO, FIS turned the primary within the {industry} to leverage cloud applied sciences at scale, launch an enterprise-wide modernization initiative leveraging component-based API architectures and is driving the way forward for real-time and digital experiences. The corporate has additionally frequently acquired prestigious recognition, together with being named for consecutive years to the Fortune World’s Most Admired Corporations and Quick Firm’s 100 Finest Corporations for Innovators and ranked persistently among the many {industry}’s main monetary know-how suppliers, together with the No. 1 place within the annual IDC Monetary Insights FinTech Rankings for 9 of the final 12 years.
“I’m honored to have led such a proficient and devoted workforce of colleagues and work with such a formidable and high-quality group of shoppers. Through the years, we’ve grown into the biggest monetary know-how supplier on the planet by efficiently serving to our shoppers anticipate, navigate and harness wave after wave of technological change to make the most of development alternatives of their markets, advancing the way in which the world pays, banks and invests. I couldn’t be extra happy with Stephanie shifting into this place,” stated Norcross. “Below her management, I’m assured that FIS will stay centered on delivering significant experiences to our colleagues, shoppers and communities and robust worth to our shareholders.”
Commenting on her appointment, Ferris said, “I’m extremely honored to imagine the CEO function from Gary and sincerely respect his partnership and mentorship. Few corporations can match FIS’ wealthy, stellar historical past, industry-best breadth and scale, and concentrate on innovation. We’re uniquely positioned to chart the course for fintech innovation, and because of the boldness positioned in me by Gary and FIS’ Board of Administrators, I’m extremely excited to steer the corporate into its future.”
FIS Lead Impartial Director, Jeffery Goldstein, commented, “Below Gary’s management and in partnership with the FIS Board, we have now labored intently collectively for a number of years to develop and implement a considerate and robust CEO transition plan. Gary has been an incredible chief for FIS, steering the corporate to many {industry} milestones and a place of robust market management. FIS is effectively positioned to proceed main the trajectory of fintech innovation beneath Stephanie’s management, and the Board is trying ahead to a continued robust partnership with Gary and Stephanie of their new roles.”
Preview of Anticipated Q3 Outcomes
Previewing its third quarter outcomes, FIS expects revenues and adjusted earnings per share to be inside its Q3 steering vary with income on the mid-point of the vary and adjusted earnings per share to be on the low-end of the vary. Administration will present extra particulars on its Q3 and This fall expectations, in addition to extra particulars about its forward-looking technique in its upcoming Q3 earnings name.