#2 FIS board chair Lee A. Kennedy retires…

Wednesday, March 3, 2010, 2:30pm EST  |  Modified: Wednesday, March 3, 2010, 6:32pm

FIS board chair Lee A. Kennedy retires

Jacksonville Business Journal – by Rachel Witkowski Staff reporter

The executive vice chairman and director of Fidelity National Information Services Inc., Lee A. Kennedy, retired from his role Monday.

Kennedy was on the board of directors since February 2006 and was president and CEO of the company (NYSE: FIS) until it acquired Metavante Technologies Inc. Oct. 1. Frank Martire, who was chairman and CEO of Milwaukee-based Metavante before the acquisition, became president, CEO and director of FIS after the deal closed. Kennedy then became executive vice chairman of the board.

“It has been a privilege to work with the highly talented board members, management team and employees of FIS,” Kennedy said. “The new leadership team is off to a strong start, and I have great confidence in the future of this company.”

The announcement released by FIS stated Kennedy resigned effective immediately “in order to devote more time to outside interests.”

The company agreed to pay Kennedy nearly $2.5 million and vest 509,166 of the company’s stock options that he held as payment in full of all amounts due, according to a filing with the U.S. Securities and Exchange Commission released Wednesday.

Kennedy will remain a nonexecutive employee and available for consulting, according to the SEC filing.

The document stated Kennedy did not resign or refuse to be re-elected on the board “because of a disagreement with the company on any matter relating to the company’s operations, policies or practices.”

FIS provides processing and technology services to financial institutions worldwide.

Source: http://jacksonville.bizjournals.com/jacksonville/stories/2010/03/01/daily18.html

Fidelity National Information Services Reviews

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