Summary
This 8-K filing announces a significant leadership change within Fidelity National Information Services, Inc. (FIS), appointing Peter Smith as the new Corporate Senior Vice President and Chief Accounting Officer, effective May 8, 2013. This appointment fills a crucial role that was being temporarily managed by the CFO, James W. Woodall. Mr. Smith's extensive experience within FIS, specifically as senior vice president and segment controller for the Payments Solutions Group since 2009, and prior roles at Metavante and Openwave Systems, positions him to effectively oversee the company's accounting functions. Investors should note the terms of Mr. Smith's new three-year employment agreement, which includes a base salary of $265,000 annually and a target annual bonus of at least 70% of his base salary, with a potential maximum of 140%. The bonus will be prorated for 2013. This appointment brings stability and dedicated leadership to the critical accounting function, which is vital for financial reporting and investor confidence.
Key Highlights
- 1Peter Smith appointed Corporate Senior Vice President and Chief Accounting Officer, effective May 8, 2013.
- 2The Chief Accounting Officer role was previously handled on an interim basis by CFO James W. Woodall.
- 3Smith has been with FIS since October 2009, most recently as senior vice president and segment controller for the Payments Solutions Group.
- 4Smith has prior finance experience at Metavante Corporation and Openwave Systems Inc.
- 5A three-year employment agreement has been established for Mr. Smith.
- 6Mr. Smith's annual base salary will be $265,000.
- 7Target annual bonus is set at no less than 70% of base salary, with a maximum potential of 140% of base salary.