FIS (NYSE:FIS), the world's largest provider of banking and payments technology, today announced that its Board of Directors has elected Frank Martire chairman of the board and chief executive officer.
The company also announced the promotion of Gary Norcross as president and chief operating officer. These changes are effective immediately.
Messrs. Martire and Norcross share more than 50 years of combined experience in the financial technology industry. Mr. Martire joined a predecessor of FIS as chairman and chief executive officer in 2003, and was named president and chief executive officer of FIS in October 2009. Mr. Norcross joined FIS in 1988 and has served as its chief operating officer since November 2007 after serving 11 years as president of the Integrated Financial Solutions division.
William P. Foley II, who has served as FIS' chairman since February 2006, will continue to serve on FIS' board of directors as vice chairman. The move will enable Mr. Foley to devote more time to his other business interests. "Frank and Gary have done a terrific job driving performance and executing our business strategy. These appointments, which advance the company's succession planning, also reflect the depth and strength of our leadership team and our ability to promote from within," stated Mr. Foley.
"On behalf of the board, our management team and employees around the world, I would like to extend our sincere appreciation to Bill for the outstanding vision and leadership he has contributed in the creation and building of FIS into the number one FinTech provider in the world," stated Mr. Martire. "We are also very appreciative of his willingness to continue serving as a member of our board."
FIS also announced that Mike Hayford, chief financial officer for FIS, will assume responsibility for all merger and acquisition activity in addition to his current duties. Brent Bickett, executive vice president of corporate finance, will transition full-time to FIS' former parent, Fidelity National Financial, Inc. (NYSE: FNF - News). "I would also like to thank Brent for his contributions in identifying, evaluating and negotiating investment opportunities on behalf of FIS, which have enabled us to execute a very successful acquisition strategy," Mr. Martire added.