Fiserv president exits
Article excerpt
Highlighted: the sentence this signal was extracted from
As Stripe alum Dhivya Suryadevara announced her resignation Tuesday, Fiserv elevated two executives. First published on The spokesperson also noted that " strategy, priorities and key actions" remain unchanged following the resignation of Suryadevara. The executive changes at the Milwaukee-based company come in the wake of the announcement last month that Takis Georgakopoulos was promoted to the CEO post, after Mike Lyons left to lead Truist . The CEO switch came after the company has struggled to meet growth goals it set for itself. The company had embedded unrealistic assumptions in its guidance regarding volume growth, sales activity and broad productivity improvements, Lyons told analysts last October, after third-quarter earnings fell short of analysts' sales and net income projections. "We view this departure as somewhat disruptive, but not overly surprising given Suryadevara joined under Mike, and he left within 12 months of her joining," analysts at the investment firm Robert W. Baird said in a note to clients Tuesday. "While management affirmed its commitment to the core modernization plan when Mike left, we think this departure could reignite investors' concerns over the durability of [Fiserv's] Financial Solutions strategy." Georgakopoulos had previously served as a co-president alongside Suryadevara, with those co-lead appointments being effective Dec. 1 of last...
Keep reading with a free account
The rest of this article, and every signal for Fiserv, is in your free account.
