Fiserv Elects Frank Bisignano To Succeed Jeffery Yabuki As CEO

(RTTNews) - Fiserv Inc. (FISV), Thursday said its board has selected Frank Bisignano to succeed Jeffery Yabuki as Chief Executive Officer as of July 1.

Yabuki will step down following a 15-year career with the company. To ensure a seamless transition, Yabuki, Chairman of the Fiserv Board, will continue to serve as Executive Chairman for the remainder of 2020.

"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," said Yabuki.

Commenting on his appointment, Bisignano said, "It is an honor to assume the role as CEO of Fiserv; to serve clients with excellence, work with the talented team of leaders and associates and to continue the great track record of delivering differentiated value for our shareholders."

Bisignano has served as President, Chief Operating Officer and a Director of Fiserv since the company completed its acquisition of First Data in July 2019.

Meanwhile, Fiserv withdrew its financial guidance for 2020, due to the uncertainty surrounding the COVID-19 pandemic and the related negative impact on global economic activity.