Monett-based Jack Henry & Associates Inc. (Nasdaq: JKHY) today announced the promotion of David Foss to president and CEO.
Foss, who has served as president since July 1, 2014, will assume the additional role of chief executive on July 1. Jack Prim, the company's current chairman and CEO, will become executive chairman, according to a news release.
"We are fortunate to have a leader with Dave's expertise and experience to step into the role of CEO for JHA," Prim said in the release. "His industry knowledge, extensive background in financial services and his success in multiple roles at JHA make him the ideal CEO to successfully drive our future growth.
"His experience in creating a high-performing, high-morale organization will serve JHA well into the future."
Foss joined Jack Henry in 1999 after being tasked with selling the community-banking division of Dallas-based BancTec. He first served as the Monett company's open systems group president and complementary solutions group general manager before being named general manager of Jack Henry's ProfitStars division in 2006 and president in 2009. He also has been known for completing acquisitions for Jack Henry. At least 20 acquisitions were conducted to form the current ProfitStars.
Since Prim was appointed president in 2003, Jack Henry has grown to 11,000 clients from 2,800 and experienced a revenue increase to $1.3 billion from $400 million. He'll continue to live in Monett and stay active in the company, according to the release.
Jack Henry builds technology and payment processing products for the financial services industry.
JKHY shares closed yesterday at $76.73, compared to a 52-week range of $60.10 to $79.92.
