- Push-out Score determined
- After almost 15 years in the position
- Accolades, praise and thanks for Yabuki
- Frank Bisignano taking over
- Yabuki will remain as Executive Chairman at Fiserv Inc.
- Yabuki made a lengthy statement and said 274 words
(exechange) — Brookfield, Wisconsin, May 7, 2020 — Jeff Yabuki, chief executive of Fiserv, leaves his position. As announced by Fiserv Inc. in a news release on Thursday, May 7, 2020, Jeffery W. (Jeff) Yabuki leaves his post as chief executive officer at the provider of financial services technology after almost 15 years in the role, effective July 1, 2020.
Jeff Yabuki’s duties as CEO will be taken over by Frank Bisignano, currently Chief Operating Officer of Fiserv Inc.
“This is the right time”
Jeff Yabuki’s departure from the CEO post is explained as follows. Yabuki said: “With the successful integration of First Data well underway, this is the right time for Frank to lead the next phase of the company’s evolution.”
Yabuki will remain as Executive Chairman at Fiserv Inc.
“To ensure a seamless transition, Yabuki, Chairman of the Fiserv Board, will continue to serve as Executive Chairman for the remainder of 2020,” Fiserv said.
“Step down”
Fiserv said: “Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced that its Board of Directors has unanimously elected Frank Bisignano to succeed Jeffery Yabuki as Chief Executive Officer as of July 1. Yabuki will step down following a distinguished 15-year career with the company.”
Share price increase since December 2005
The announcement follows an increase in Fiserv Inc.’s share price of 875% since December 2005.
In the position of CEO since 2005
Jeff Yabuki became CEO of the Company in 2005.
Yabuki became the Company’s Chairman in July 2019 and has served as the Company’s Chief Executive Officer since 2005.
Before joining Fiserv, Yabuki served as Executive Vice President and Chief Operating Officer for H&R Block, Inc., a financial services firm, from 2002 to 2005.
From 2001 to 2002, he served as Executive Vice President of H&R Block and from 1999 to 2001, he served as the President of H&R Block International.
From 1987 to 1999, Yabuki held various executive positions with American Express Company, a financial services firm, including President and Chief Executive Officer of American Express Tax and Business Services, Inc.
In the past five years, in addition to Fiserv, Yabuki served as a director at Royal Bank of Canada (current), a publicly traded financial institution.
Yabuki also currently serves as a director at Ixonia Bancshares, Inc., a privately held bank holding company.
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 Fiserv and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2020 ($).