Tsys today announced the retirement of James B. Lipham as Senior Executive Vice President and Chief Financial Officer effective June 30, 2014, and the appointment by the Tsys Board of Directors of Paul M. Todd as Senior Executive Vice President and Chief Financial Officer effective July 1, 2014.
In making the announcement, TSYS Chairman of the Board and Chief Executive Officer Philip W. Tomlinson stated, "This is truly a special moment for TSYS as we make this transition recognizing the contributions of two incredible individuals. Jim has been an instrumental figure and key player in the success of TSYS for almost 30 years. Since 1984, through our periods of greatest growth, diversification and expansion, his contributions to our company and its shareholders have been innumerable. Jim's vision and leadership guided the company in its spin-off from Synovus® and TSYS' investment grade credit ratings from Standard and Poors and Moody's." Paul Todd has served as executive vice president for strategy, mergers and acquisitions, product and marketing since 2008. Over the past four years, Todd directed TSYS' diversification strategy that included four acquisitions in the direct merchant acquiring business and TSYS' largest acquisition, NetSpend, which occurred last year. He has been the key driver in developing strategies to lead TSYS into new and faster growing sectors and markets. Prior to 2008, Todd was President and Chief Executive Officer of Synovus Financial Management, a unit of Synovus Financial Corp.
"Paul brings a deep knowledge of our business and is a driving force in TSYS' diversification strategy. He is respected by his colleagues and has demonstrated the drive and energy to guide TSYS along its journey to be the leading global payments solutions provider. He is an advocate for our people and clients, dedicated to our purpose, People-Centered Payments®, and our belief that payments should revolve around people not the other way around," said M. Troy Woods, President and Chief Operating Officer of TSYS.