Jack Henry & Associates Announces Retirement of David Foss as Board Chair

Rhea-AI Summary

Jack Henry (Nasdaq: JKHY) announced that Board Chair David Foss will retire effective July 15, 2026. Vice Chair and Lead Independent Director Matt Flanigan will become Board Chair as part of a planned succession.

Foss has served in key leadership roles since 1999, while Flanigan brings long board, CFO, and banking experience.

Positive

• Planned succession with Matt Flanigan becoming Board Chair upon July 15, 2026 retirement
• Incoming Chair has served on Jack Henry’s board since 2007 and as Lead Director since 2012
• Flanigan brings prior CFO experience and 13 years of banking-industry background
• Company highlights continuity of long-term strategy, disciplined growth, and stakeholder focus

Negative

• Retirement of long-tenured leader who served as President, CEO, and Board Chair
• Leadership transition may require adjustments after Foss’s long role in strategy and culture

News Market Reaction – JKHY

-1.80%

-1.80% Session close to close

In the Jun 4 session, JKHY declined 1.80%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Vice Chair and Lead Independent Director Matt Flanigan to become Board Chair

MONETT, Mo., June 4, 2026 /PRNewswire/ -- Jack Henry & Associates, Inc.^® (Nasdaq: JKHY) announced today that Board Chair, David Foss, will retire effective July 15, 2026. As part of the planned transition, Matt Flanigan, current Vice Chair and Lead Independent Director, will become Board Chair upon Foss's retirement.

Foss joined Jack Henry in 1999 and served as President from 2014 to 2022 and as Chief Executive Officer from 2016 to 2024. He was appointed to the Board in 2017 and named Chair in 2021. Throughout his tenure, he played a pivotal role in shaping the company's long-term strategy, expanding its technology capabilities, and strengthening its position as a leading provider of solutions for banks and credit unions.

"It has been a privilege to serve this company and our clients over the years," Foss said. "I'm incredibly proud of what we've accomplished together – from strengthening our culture to advancing our technology modernization strategy. Most importantly, I am proud of the management team we've built and have great confidence in Matt's ability to serve the Board as its Chair."

Flanigan joined the Jack Henry Board in 2007 and has served as Lead Director since 2012. He retired in 2019 as Executive Vice President, Chief Financial Officer, and Board Member of Leggett & Platt, Inc. Prior to joining Leggett in 1997, he spent 13 years in the banking industry in Dallas, Texas.

"We will continue to build upon the strong foundation that Dave established," Flanigan said. "The Board remains focused on supporting the company's long-term strategy and disciplined growth, and we will work closely with management to deliver high value for all stakeholders."

Greg Adelson, President and CEO, added, "Dave's leadership has had a lasting impact on Jack Henry and on me personally – including the strategy and innovation that drive our business, as well as the values and culture that define who we are. Dave is an exceptional leader and mentor, and we are all deeply grateful for his many contributions. We have been prepared to have Matt step into this role as part of our succession plan, given his extensive leadership experience, financial expertise, banking background, and long-standing service on our Board."

About Jack Henry & Associates, Inc.^® 

Jack Henry^® (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For 50 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,400 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/jack-henry--associates-announces-retirement-of-david-foss-as-board-chair-302791126.html

SOURCE Jack Henry & Associates, Inc.

FAQ

When is David Foss retiring as Board Chair of Jack Henry (JKHY)?

David Foss will retire as Board Chair of Jack Henry on July 15, 2026. According to Jack Henry, this retirement is part of a planned leadership transition following his long service as President, CEO, board member, and Chair.

Who will become Board Chair of Jack Henry (JKHY) after David Foss retires?

Matt Flanigan will become Board Chair of Jack Henry after David Foss retires. According to Jack Henry, Flanigan currently serves as Vice Chair and Lead Independent Director and has been a board member since 2007, providing continuity in governance.

What is Matt Flanigan’s background before becoming Jack Henry (JKHY) Board Chair?

Matt Flanigan has extensive financial and banking experience. According to Jack Henry, he retired in 2019 as Executive Vice President, Chief Financial Officer, and Board Member of Leggett & Platt, after 13 years in the Dallas banking industry and long service on Jack Henry’s board.

How long has David Foss served in leadership roles at Jack Henry (JKHY)?

David Foss has held leadership roles at Jack Henry since 1999. According to Jack Henry, he served as President from 2014–2022, Chief Executive Officer from 2016–2024, joined the board in 2017, and became Board Chair in 2021 before his planned 2026 retirement.

What does the Jack Henry (JKHY) board say about strategic continuity after the chair transition?

The board emphasizes continued focus on long-term strategy and disciplined growth. According to Jack Henry, Matt Flanigan said the board will build on the foundation established by David Foss and work closely with management to deliver high value for all stakeholders.

How is Jack Henry (JKHY) framing this leadership change for shareholders?

Jack Henry presents the change as part of a prepared succession plan. According to Jack Henry, leadership highlights Foss’s lasting impact, Flanigan’s financial and banking expertise, and the board’s commitment to supporting strategy, innovation, culture, and stakeholder value.