ACI President and CEO Philip Heasley to Retire at Year-End
November 07 2019 - 6:01AM
Business Wire
Payments pioneer led company for 15 years;
Company positioned for continued success in evolving payments
market
ACI Worldwide Inc. (NASDAQ: ACIW) (“ACI” or the “Company”), a
leading global provider of real-time electronic payment and banking
solutions, today announced that 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. As part of its ongoing succession planning
activities, the Board has been working with executive search firm
Russell Reynolds to assist it in identifying potential CEO
candidates. In addition, to help provide for an orderly transition,
Mr. Heasley has agreed to serve the Company in a consulting
capacity for three months following his retirement.
“It has been a great privilege to lead ACI over the past 15
years,” Mr. Heasley said. “I am very proud of how we have
strengthened our position as an innovative leader in this dynamic
marketplace. 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. I am proud of all we have accomplished together
and am confident in our team’s ability to build on this momentum.
ACI has a deep bench of talent and the entire organization remains
focused and well-positioned to execute on our strategy and drive
long-term shareholder value.”
“On behalf of the entire Board of Directors and all ACI team
members, I thank Phil for his significant contributions to ACI and
his many years of dedicated service,” said David Poe, Chairman of
ACI’s Board. “During his tenure, Phil successfully advanced ACI’s
position as a global leader in real-time electronic payments. Among
Phil’s many accomplishments, he transformed ACI to include a
successful cloud-based business. We wish Phil all the best in his
retirement and are grateful that, through a consulting agreement,
his experience and perspective will be available to the Company
through the first quarter of next year.”
Mr. Poe continued, “The Board has a clear vision of the right
person to lead the Company forward, and the Board’s search
committee is conducting a thorough process that includes both
internal and external candidates. ACI is fortunate to have a
strong, experienced management team and talented payment
professionals around the world who will continue to advance and
support the Company’s strategy as we transition leadership.”
In a separate press release issued today, ACI Worldwide
announced its financial results for the third quarter 2019. The
press release is available on ACI’s Investor Relations website at
https://investor.aciworldwide.com.
About ACI Worldwide ACI Worldwide, the Universal Payments
(UP) company, powers electronic payments for more than 5,100
organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries, as well as thousands of
global merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises or through ACI’s private cloud, we provide real-time,
immediate payments capabilities and enable the industry’s most
complete omni-channel payments experience. To learn more about ACI,
please visit www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
FORWARD-LOOKING STATEMENTS This press release contains
forward-looking statements based on current expectations that
involve a number of risks and uncertainties. Generally,
forward-looking statements do not relate strictly to historical or
current facts and may include words or phrases such as “believes,”
“will,” “expects,” “anticipates,” “intends,” and words and phrases
of similar impact. The forward-looking statements are made pursuant
to safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.
Forward-looking statements in this press release include, but
are not limited to, statements regarding expectations that: (i) we
will build on our momentum; (ii) we will execute on our strategy
and build long-term shareholder value; and (iii) we will continue
to advance and support our strategy as we transition
leadership.
All of the foregoing forward-looking statements are expressly
qualified by the risk factors discussed in our filings with the
Securities and Exchange Commission. Such factors include, but are
not limited to, increased competition, the success of our Universal
Payments strategy, demand for our products, restrictions and other
financial covenants in our debt agreements, consolidations and
failures in the financial services industry, customer reluctance to
switch to a new vendor, the accuracy of management’s backlog
estimates, the maturity of certain products, failure to obtain
renewals of customer contracts or to obtain such renewals on
favorable terms, delay or cancellation of customer projects or
inaccurate project completion estimates, volatility and disruption
of the capital and credit markets and adverse changes in the global
economy, our existing levels of debt, impairment of our goodwill or
intangible assets, litigation, future acquisitions, strategic
partnerships and investments, integration of and achieving benefits
from the Speedpay acquisition, the complexity of our products and
services and the risk that they may contain hidden defects or be
subjected to security breaches or viruses, compliance of our
products with applicable legislation, governmental regulations and
industry standards, our ability to protect customer information
from security breaches or attacks, our compliance with privacy
regulations, our ability to adequately defend our intellectual
property, exposure to credit or operating risks arising from
certain payment funding methods, the cyclical nature of our revenue
and earnings and the accuracy of forecasts due to the concentration
of revenue-generating activity during the final weeks of each
quarter, business interruptions or failure of our information
technology and communication systems, our offshore software
development activities, risks from operating internationally,
including fluctuations in currency exchange rates, exposure to
unknown tax liabilities, volatility in our stock price, and
potential claims associated with our sale and transition of our CFS
assets and liabilities. For a detailed discussion of these risk
factors, parties that are relying on the forward-looking statements
should review our filings with the Securities and Exchange
Commission, including our most recently filed Annual Report on Form
10-K and our Quarterly Reports on Form 10-Q.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191107005208/en/
John Kraft, Vice President, Investor Relations & Strategic
Analysis ACI Worldwide 239-403-4627 john.kraft@aciworldwide.com
Dan Ring, Vice President, Public Relations ACI Worldwide
781-370-3694 dan.ring@aciworldwide.com
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