Summary
Fidelity National Information Services, Inc. (FIS) announced a significant leadership change in its finance department through an 8-K filing on March 18, 2013. The company appointed James W. Woodall as its new Chief Financial Officer (CFO), effective immediately. Mr. Woodall, with a strong internal background at FIS since 2008 as Chief Accounting Officer and Controller, brings extensive experience in financial operations, reporting, and planning. His expanded responsibilities now encompass enterprise-wide financial oversight, including treasury, investor relations, and capital allocation strategy. This appointment coincides with the retirement of the previous CFO, Michael D. Hayford, who will officially step down on June 28, 2013. The transition to Mr. Woodall represents a move to promote internal talent into a critical executive role. Investors should note the compensation adjustments made for Mr. Woodall, including an increase in his base salary to $450,000 and an enhanced bonus potential, reflecting the increased scope of his new position.
Key Highlights
- 1James W. Woodall appointed as Chief Financial Officer (CFO) of FIS, effective March 18, 2013.
- 2Mr. Woodall has been with FIS since July 2008, serving as Senior Vice President, Chief Accounting Officer, and Controller.
- 3His previous role involved managing accounting functions, financial reporting, FP&A, and SOX compliance.
- 4Mr. Woodall's new role includes enterprise-wide oversight of financial operations, treasury, investor relations, and corporate development.
- 5Michael D. Hayford, the previous CFO, will retire effective June 28, 2013; he ceased serving as CFO on March 18, 2013.
- 6Mr. Woodall's base salary is increased to $450,000 annually.
- 7His target annual bonus is now no less than 100% of his base salary, with a maximum of 200%.