- Push-out Score determined
- After almost 15 years in the position
- Praise, thanks and good wishes for Heasley
- Search for a successor
- Heasley said 117 words
(exechange) — Naples, Florida, November 7, 2019 — Phil Heasley, chief executive of ACI Worldwide, leaves. As announced by ACI Worldwide Inc. in a news release and in a regulatory filing published on Thursday, November 7, 2019, Philip G. (Phil) Heasley leaves his post as Chief Executive Officer at the provider of real-time electronic payment and banking solutions after almost 15 years in the role, effective December 31, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.5 years, according to data compiled by exechange. On an accumulated basis, around 28% of the CEOs who announced their departure over the past 12 months left their posts after more than 10 years.
ACI Worldwide will undertake a search for a successor.
“An opportune time for me to step aside”
Phil Heasley’s departure from the CEO post is explained as follows. Heasley said: “The ACI operating model is fully in place and gaining traction among key customer segments globally. I believe this is an opportune time for me to step aside and let a new leader guide ACI into the future.”
Precise information regarding Phil Heasley’s future plans was not immediately available.
ACI Worldwide said: “Philip Heasley has notified the Company’s Board of Directors that he will retire as President and Chief Executive Officer and as a member of the Board, effective as of December 31, 2019.”
ACI Worldwide further said: “Philip G. Heasley will retire as President and Chief Executive Officer and as a member of the board of directors of ACI Worldwide, Inc. (the “Company”) effective December 31, 2019. Mr. Heasley will serve as a consultant through March 31, 2020.”
Share price increase since November 2015
The announcement follows an increase in ACI Worldwide Inc.’s share price of 30% since November 2015.
Chaired by David A. Poe
ACI Worldwide Inc. is chaired by David A. Poe.
In the position of CEO since 2005
Phil Heasley became CEO of the Company in March 2005.
While Heasley will remain President and Chief Executive Officer through December 31, 2019, Craig Saks, the Company’s Senior Executive Vice President and Chief Operating Officer, will be delegated responsibility for the oversight of the Company’s day-to-day operations in such capacity as would otherwise be performed by the position of Chief Executive Officer of the Company, and Heasley’s direct reports will report to Saks until a successor to the Chief Executive Officer position is appointed.
Heasley was named president and CEO of ACI Worldwide in March 2005.
He has more than 30 years in payment systems and financial services. Before joining the company, he was chairman and CEO of Paypower, LLC.
From 2000 to 2003, he was chairman and CEO of First USA Bank, the credit card subsidiary of Bank One.
Prior to joining First USA Bank, Heasley spent 13 years in executive positions at U.S. Bancorp, including six years as vice chairman and the last two years as president and chief operating officer.
Before joining U.S. Bancorp, Heasley spent 13 years at Citicorp, including three years as president and COO of Diners Club, Inc.
Heasley served as chairman of the board of Visa USA from 1996 until November 2003 and was a member of the board of Visa International during the same period. Heasley also serves, or has served, as a director of Fidelity National Financial, Inc., Ohio Casualty Corporation, Fair Isaac Corporation, Kintera Inc., The Schwan Food Company, Inc., and Public Radio International.
Heasley holds an MBA from Bernard Baruch Graduate School of Business and a Bachelor of Arts from Marist College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to ACI Worldwide and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2019 ($).