Stephanie Ferris became Chief Executive Officer of FIS on December 16th, succeeding Gary Norcross, who has left the company.Concurrent with this change, FIS has transitioned to an independent Board Chair structure. Jeffrey A. Goldstein, Lead Independent Director of the FIS Board, has been appointed as Independent Chairman.
“FIS is well positioned for growth across our markets and we are moving forward with this new Board leadership structure from a position of great opportunity,” said Mr. Goldstein, Lead Independent Director of the FIS Board and incoming Independent Chairman of the Board. “Stephanie is an accomplished industry veteran with expertise in payments, technology platform businesses and driving transformation and has already demonstrated at FIS how she will leverage her deep understanding of FIS’ colleagues, clients and strategy to lead the organization with her reputation for driving operational excellence, disciplined innovation and client inspiration. The Board is confident she is the ideal leader to take the Company forward and enhance shareholder value.”
Mr. Goldstein concluded: “We are grateful to Gary for his over 34 years of dedicated service and many important contributions to FIS. Gary provided tremendous leadership in his varying roles at FIS over the years, overseeing the expansion of FIS’ product portfolio and global footprint and setting the strategy for the Company to become indispensable to our clients. He was also a strong mentor to our colleagues and has been committed to continually identifying, growing, recruiting and developing FIS talent. On behalf of the entire Board, I thank Gary for his unwavering commitment. He and Stephanie have worked to ensure a seamless transition for our clients, colleagues, shareholders and partners.”
In her role as FIS President, Ms. Ferris has been responsible for steering and executing the Company’s global business strategy, including M&A, and its global business operations serving financial institutions, merchants and corporates of all sizes and geographies. A 28-year industry veteran with expertise in payments, technology platform businesses and driving digital transformation, Ms. Ferris has been integral to FIS’ growth globally, where it currently supports more than 20,000 businesses and over a million merchant locations.
“I am honored to serve as CEO of FIS during such an important and exciting phase in the Company and our industry,” said Ms. Ferris. “My time as President has reinforced what a talented global team we have, and I look forward to leading this organization as we build on our momentum and continue to create value for our clients, partners, colleagues and shareholders. FIS’ stellar history, marquee clients and successful innovation provide an unrivaled foundation for us to chart FIS’ future course for fintech innovation and value creation, and I’m incredibly excited to lead the company into its future.”
“It has been a privilege to serve as CEO of FIS and I am proud of all that we have accomplished during my tenure,” said Mr. Norcross. “Stephanie’s previously announced appointment has been part of a thoughtful succession plan and I am confident that she is the right person to lead FIS into its next phase of value creation. The Board and I believe now is the right time to transition to an independent Board Chair structure, and we are confident that Jeffrey is the right person to lead this transition.”
In addition, as separately announced, FIS is initiating a comprehensive assessment of the Company’s strategy, businesses, operations and structure with the goal of positioning the Company to drive stronger results, increase shareholder value and enhance client services. Further, following the Board’s appointment of two new independent directors earlier this year, the Board has appointed a new, highly qualified independent director to the Board.