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Longtime FIS CEO to leave company earlier than expected, steps down from board - Jacksonville Business Journal

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Norcross to leave FIS earlier than expected, steps down from board

The long-time CEO of Jacksonville-based FIS is leaving the company, including stepping down from the board, effective today — a big, and earlier, move than had been previously planned.

Instead, Ferris will take over the CEO reins immediately. Jeffrey Goldstein, the lead independent director on the company's board, will take over as independent chairman of the board., the move comes as the company faces pressure from two activist investors: D.E. Shaw and Jana Partners. The companies, which Reuters said are acting independently, have pushed for FIS to address its business configuration and for C-suite changes.

"We are taking a hard look at every aspect of our company to define areas for change and develop specific action and improvement plans," Ferris said in a statement."The Board and I are fully aligned in implementing this comprehensive review of our businesses." Last month, after the company's stock suffered its worst day in two decades — falling more than 20% and ending up at its lowest price in five years — Ferris said she would lead the implementation of a “transformation” plan aimed at cutting $500 million or more in expenses.

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