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ACI Worldwide Names Thomas Warsop Interim Chief Executive Officer
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
ACI Worldwide (NASDAQ: ACIW) has appointed Thomas Warsop as Interim CEO, succeeding Odilon Almeida, who is stepping down. To ensure a smooth transition, Almeida will assist through November 30, 2022. Adalio Sanchez, who has been on the board since 2015, is now the non-executive Chair. The board aims to identify a permanent CEO with the help of an executive search firm. Warsop emphasizes ACI’s position to capitalize on the real-time payments market, aiming for operational excellence and growth.
Positive
Appointment of Thomas Warsop as Interim CEO, who brings significant leadership experience.
Adalio Sanchez named non-executive Chair, providing stability.
Focus on real-time payments, positioning ACI for growth.
Negative
Departure of CEO Odilon Almeida may cause uncertainty during the transition.
MIAMI--(BUSINESS WIRE)--
ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, announced today that Thomas Warsop, formerly the non-executive Chair of the ACI Board of Directors, has been appointed Interim Chief Executive Officer, effective immediately. He succeeds Odilon Almeida, who is departing from his role as CEO of ACI. To help provide for an orderly transition, the Board intends to enter into a transition services agreement with Almeida through November 30, 2022.
Adalio Sanchez, an independent member of the ACI Board since 2015, was selected as non-executive Chair of the Board. The Board will conduct a comprehensive search to identify a permanent CEO with the assistance of a leading, independent executive search firm.
“As ACI advances its vision to lead the real-time payments revolution, the Board determined that now is the right time to transition to a new leader focused on accelerating our technology transformation and delivering operational excellence across our business,” said Mary Harman, Nominating & Corporate Governance Committee Chair. “The Board is confident that the Company is well-positioned to build on the momentum underway as we work to provide the next generation of real-time payments solutions for our clients.”
She continued, “On behalf of the entire Board, I would like to thank Odilon for his leadership and contributions to ACI. We wish him all the best in the future. We are fortunate to have Tom Warsop bring his considerable leadership experience and expertise in financial services technology to the Interim CEO role, and we are confident in his ability to lead the Company during this transition period.”
Warsop said, “ACI is uniquely positioned to support banks, merchants and billers around the world. We have market-leading software platforms in use at many of the world’s leading financial institutions and are poised not just to benefit from, but to drive, the rapidly approaching real-time payments revolution. This exciting opportunity will require bold leadership, and now is the time to build an even stronger foundation for ACI’s next chapter of growth. I’m thrilled to be able to support this great organization as we chart our path forward.”
Warsop joined the ACI Board of Directors in June 2015 and became non-executive Chairman in June 2022. He has led various portfolio companies for several leading private equity firms since 2012, including One Call Care Management, York Risk Services Group, and The Warranty Group. He served as Group President at Fiserv, Inc. (NASDAQ: FISV), a provider of technology solutions to the financial industry, from 2007 to 2012. He served in various capacities at Electronic Data Systems for 17 years, including President of its Business Process Outsourcing unit in Asia Pacific, Vice President in the United Kingdom, and Vice President of Global Financial Services. He currently serves on the Boards of One Call Care Management and Nation Safe Drivers.
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure, and scalable software solutions enable leading corporations, fintechs, and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as “anticipate,” “believe,” “expect,” "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by the Company in this press release, its reports filed with the Securities and Exchange Commission (the "SEC") and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for the Company to predict or identify all such events or how they may affect it. The Company has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include, but are not limited to those included it the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by the Company with the SEC. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.
