8-KLeadership Changes

FISERV INC 8-K Report, Executive Changes (Jun 14, 2021)

Filed June 14, 2021For Securities:FISV

Summary

Fiserv, Inc. (FISV) announced a significant addition to its Board of Directors with the appointment of Wafaa Mamilli, effective June 11, 2021. Ms. Mamilli brings a wealth of experience in technology and digital strategy, having most recently served as Executive Vice President and Chief Information and Digital Officer at Zoetis Inc. Her background also includes senior technology leadership roles at Eli Lilly and Company, specifically as Global Chief Information Officer and Chief Information Security Officer. This appointment is noteworthy for investors as it signals a continued focus on strengthening the board's expertise in technology and risk, critical areas for a company like Fiserv operating in the financial technology sector. Ms. Mamilli has been deemed independent by the NASDAQ's standards and will serve on the company's technology risk committee, further underscoring her relevant skillset. Her compensation will align with the company's standard non-employee director arrangements, ensuring consistency with existing board compensation structures.

Key Highlights

  • 1Fiserv appointed Wafaa Mamilli to its Board of Directors.
  • 2Ms. Mamilli will also serve on the company's technology risk committee.
  • 3She is considered an independent director based on NASDAQ rules.
  • 4Ms. Mamilli has extensive experience in technology and digital leadership roles, including at Zoetis Inc. and Eli Lilly and Company.
  • 5Her previous roles include Chief Information and Digital Officer, Global Chief Information Officer, and Chief Information Security Officer.
  • 6Ms. Mamilli's compensation will follow the standard non-employee director compensation arrangements.
  • 7She will also be eligible for the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan.

Frequently Asked Questions

Wafaa Mamilli is a seasoned technology executive appointed to Fiserv's Board of Directors. She has extensive experience in information technology and digital transformation, most recently serving as Executive Vice President and Chief Information and Digital Officer at Zoetis Inc. Prior to that, she held significant roles at Eli Lilly and Company, including Global Chief Information Officer and Chief Information Security Officer.

Ms. Mamilli's appointment is important as it brings specialized expertise in technology and digital strategy to Fiserv's Board. Her role on the technology risk committee will be particularly valuable given the company's position in the financial technology sector, where cybersecurity and technological innovation are paramount.

Ms. Mamilli will participate in Fiserv's standard non-employee director compensation arrangements, which are publicly available in company filings. She will also be eligible for the company's Non-Employee Director Deferred Compensation Plan.

Yes, the Fiserv Board of Directors has determined that Ms. Mamilli is independent within the meaning of NASDAQ Marketplace Rule 5606(a)(2).