Jack Henry & Associates Inc. announced an executive transition plan in which President and Chief Operating Officer Greg Adelson will become CEO and President on July 1, 2024. Board Chair and CEO David Foss will retire from his current role on June 30, 2024, and become Executive Board Chair.
Adelson joined Jack Henry in 2011 as Group President of iPay Solutions™ and was promoted to General Manager of JHA Payment Solutions™ in 2014. He became Jack Henry’s COO in 2019 and was named President in 2022. He is responsible for all business lines, technology, infrastructure, and sales.
“Greg is a strong, proven leader who has been an essential part of Jack Henry’s growth and success for the past 13 years and has a deep understanding of all aspects of our business,” Foss said. “This transition plan has been carefully considered for some time, and we are fortunate to have someone like Greg ready to step into the CEO role.”
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Foss joined the company in 1999 after he arranged the sale of BancTec’s financial solutions division to Jack Henry. He became President of Profitstars® (now Complementary Solutions) in 2004 before becoming President of Jack Henry in 2014 and CEO in 2016. Foss has led more than 25 acquisitions over his 25 years at Jack Henry. During his time as CEO, Jack Henry’s revenue and net income each has grown by approximately 50% since 2016 to $2.08 billion and $367 million, respectively, as of end of fiscal year 2023.
“It has been my immense pleasure to serve as CEO of this wonderful company for so many years,” Foss said. “When I came into this role, I had a number of large projects I wanted to address – our much-needed card platform migration, our branding strategy, our future technology strategy, and the planned retirements of almost our entire senior leadership team – all of which have now been completed or are well on their way. I’m confident that Greg and the team we have in place today can take this company to the next level, and I’m looking forward to continuing to work with them in my new role as Executive Board Chair.”
Adelson has led many key initiatives at Jack Henry such as the creation of the PayCenter™ payments hub and the acquisition of Ensenta Corporation, overseen the rollout of innovative solutions, including the ongoing development of a cloud-native technology modernization strategy, and strengthened the company’s operating and service model through the One Jack Henry program. Prior to Jack Henry, he held executive leadership positions as Chief Revenue Officer of Regulus, Chief Operating Officer of FSV Payments and National Processing Company, and President of ChoicePay.
SOURCE: PRNewswire