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Fiserv's Muma to step down

05 October 2004  |  3474 views  |  0 golf

Financial processor Fiserv says CEO and president Leslie Muma is to retire from the firm in June 2006.

Muma says he is working with the board to find a suitable successor. Norm Balthasar, Fiserv's senior EVP and COO, has asked to be removed from consideration as he plans to retire in 2008.

Muma, who has been with the company for 33 years, says: "I have seen Fiserv grow from a small, privately owned company of $21 million in revenue in 1984 - when Fiserv was founded by the merger of two bank processing organizations - into a publicly traded S&P 500 company with more than $3.5 billion in revenue, 15,000 clients and 22,000 employees."
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