- Push-out Score determined
- After eight years in the position
- Accolades and praise for Norcross
- Stephanie Ferris taking over
- Norcross will remain as Executive Chairman at FIS
- Norcross spoke at length and said 169 words
(exechange) — Jacksonville, Florida, October 19, 2022 — Gary Norcross, chief executive of FIS, leaves his position. As announced by Fidelity National Information Services Inc. in a news release published on Tuesday, October 18, 2022, and in a regulatory filing published on Wednesday, October 19, 2022, Gary A. Norcross leaves his post as chief executive officer at the specialist in financial services technology, after eight years in the role, effective December 31, 2022.
Gary Norcross’s duties as CEO will be taken over by Stephanie L. Ferris, currently President at Fidelity National Information Services Inc.
“Succession planning”
Gary Norcross’s departure from the CEO post is explained as follows. Norcross said: “Continually growing and developing FIS leadership talent, including succession planning, has remained a key focus of my agenda with our Board.”
Norcross will remain as Executive Chairman at FIS
“Ferris will assume the President and CEO role on January 1, 2023, when Norcross takes on the role of Executive Chairman of the Board. Ferris was also appointed to the FIS Board of Directors,” FIS said.
“Step down”
FIS said: “In addition to her current role as President, Ferris will take over as CEO from Gary A. Norcross who has served as the company’s CEO for the last eight years and Chairman since 2018.”
FIS further said: “Gary A. Norcross will step down from his position as Chief Executive Officer, effective December 31, 2022 (the “Transition Date”) and assume a new role as Executive Chairman of the Company’s Board of Directors on January 1, 2023.”
Share price decline since October 2021
The announcement follows a decline in Fidelity National Information Services Inc.’s share price of 38% since October 2021.
In the position of CEO since 2015
Gary Norcross became CEO of the Company in 2015.
Norcross is the Chairman and Chief Executive Officer of FIS.
He has served as Chief Executive Officer since 2015, and has served as Chairman since 2018.
From March 2012 to January 2015, he served as Chief Operating Officer of FIS, and from March 2012 to March 2021, he served as President of FIS.
From October 2009 to March 2012, he served as Corporate Executive Vice President, Chief Operating Officer of FIS, and served as President and Chief Operating Officer, Transaction Processing Services of FIS from November 2007 to September 2009.
Prior to that, he served as Executive Vice President of the Integrated Financial Solutions division of FIS beginning in February 2006 and held the position of Senior Vice President of the Integrated Financial Solutions division of FIS and its predecessors from June 1996 to February 2006.
He served FIS in various other capacities between 1988 and 1996.
In 2017, Norcross joined the Board of the Guardian Life Insurance Company, a mutual insurance company.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Gary Norcross’s move on a scale of 0 to 10.
exechange reached out to FIS and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 43.2022 ($).