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Fiserv Appoints Jeffery W. Yabuki as President,
CEO and Member of the Board of Directors
BROOKFIELD, Wis.--Nov. 7, 2005--Fiserv, Inc.
(Nasdaq:FISV) announced today the appointment of Jeffery W. Yabuki,
a leading financial services executive, as president, chief executive
officer and a member of the board of directors effective on or before
Dec. 1, 2005. Yabuki will succeed Leslie M. Muma, who is retiring
as president and chief executive officer but will continue in a
consulting capacity to the company until June 30, 2006, and as a
director until the 2006 Fiserv annual meeting.
Yabuki, 45, joins Fiserv from H&R Block, Inc., where he spent six
years and served as executive vice president and chief operating
officer since 2002. In that role, Yabuki had oversight for the domestic
and international tax businesses, e-commerce activities and the
financial services business
units operating under the H&R Block brand, as well as marketing,
information technology, compliance and corporate development. He
also served on H&R Block's Planning & Policy Committee.
"We are delighted Jeff has agreed to join Fiserv as our new CEO,"
said Donald F. Dillon, chairman of the Fiserv board of directors.
"Over the past year, we have engaged in a thorough search process,with
our top priorities focused on finding a candidate with the right
blend of experience to grow Fiserv across its many businesses. Jeff
brings a unique combination of strategic leadership, operational
ability and extensive acquisition, integration and international
business experience, and we are confident he is the right person
to lead Fiserv. I am personally very pleased and believe that Jeff's
broad base of skills will serve as an excellent complement to our
deep and talented management team."
"Fiserv's strong businesses and talented people have made the company
an invaluable partner to thousands of leading financial services
companies and other employers," Yabuki said. "I am impressed by
the company's products and client base, and am committed to building
upon Fiserv's strong foundation to deliver long-term, sustainable
value for clients, employees and shareholders. It's an honor to
join Fiserv's leadership team and I look forward to working closely
with the company's many dedicated employees."
Muma, who served as president and a director of Fiserv from its
founding in 1984 and as CEO from 1999, said, "I welcome Jeff as
my successor and, although I will miss the camaraderie and excitement
of working with our wonderful people, I am proud to retire from
Fiserv having helped to build a great global company. I wish the
entire team much continued success as Fiserv continues to grow
under Jeff's leadership."
From 1999 until 2000, Yabuki served as president of H&R Block International,
where he led the company's tax services operations in Canada, Australia
and the United Kingdom, directing development of the company's financial
services and expansion strategy in international markets, as well
as business development. In 2000, Yabuki was promoted to executive
vice president of H&R Block and alsoassumed responsibility for the
company's e-commerce activities, information technology and marketing.Prior
to joining H&R Block, Yabuki spent 12 years with American Express
and was most recently president and chief executive officer of American
Express Tax and Business Services.
Yabuki also serves as a director of PetSmart, Inc. and MBIA, Inc.
Separately, Fiserv also announced that Kenneth R. Jensen, senior
executive vice president, chief financial officer and treasurer,
plans to retire from Fiserv effective in approximately nine months.
"I am looking forward to working with Jeff to ensure a smooth transition
for the company I have been
fortunate to be part of for many years," said Jensen. "I am confident
that Jeff's leadership and extensive experience, combined with Fiserv's
strong management, will serve only to enhance an already highly
effective management team."
Fiserv, Inc. (Nasdaq:FISV) provides information management systems
and services to the financial and health benefits industries, including
transaction processing, outsourcing, business process outsourcing
and software and systems solutions. The company serves more than
16,000 clients worldwide, including banks, credit unions, financial
planners/investment advisers, insurance companies and agents, self-insured
employers, lenders and savings institutions. Headquartered in Brookfield,
Wis., Fiserv reported $3.4 billion in processing and services revenues
for 2004. Fiserv was ranked the largest provider of information
technology services to the U.S. financial services industry in the
2004 FinTech 100 survey by the American Banker newspaper and the
Financial Insights research firm. Fiserv can be found on the Internet
at www.fiserv.com.
Click here
for Thoughts from Retiring Fiserv CEO Les Muma.
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