8-KLeadership Changes

FISERV INC 8-K Report, Executive Changes (Mar 13, 2024)

Filed March 13, 2024For Securities:FISV

Summary

Fiserv, Inc. (FISV) announced a significant addition to its Board of Directors with the appointment of Ajei S. Gopal, effective March 12, 2024. Mr. Gopal brings extensive leadership experience, most recently serving as President and CEO of ANSYS, Inc., a prominent engineering simulation software provider. His appointment is intended to enhance the board's expertise in areas critical to Fiserv's strategic direction and operational execution. Mr. Gopal's background includes significant roles at various technology and private equity firms, such as Silver Lake Partners, Hewlett Packard Software, CA Technologies, and Symantec, suggesting a strong understanding of technology innovation, strategic growth, and corporate governance. His addition to the Risk and Nominating and Corporate Governance committees signals a focus on strengthening oversight in these crucial areas. Investors can view this as a positive step towards continued robust governance and strategic guidance for the company.

Key Highlights

  • 1Fiserv appointed Ajei S. Gopal to its Board of Directors on March 12, 2024.
  • 2Mr. Gopal brings over 20 years of executive leadership experience, including his recent role as President and CEO of ANSYS, Inc.
  • 3He has been appointed to serve on the Risk and Nominating and Corporate Governance committees.
  • 4The board has determined Mr. Gopal to be independent under NYSE and SEC regulations.
  • 5His compensation will align with the company's standard non-employee director compensation arrangements.
  • 6Mr. Gopal's experience spans leadership roles in technology and private equity, including Silver Lake Partners and Hewlett Packard Software.
  • 7This appointment is expected to bolster the board's expertise in technology and corporate governance.

Frequently Asked Questions

Ajei S. Gopal is a seasoned executive with extensive experience in the technology sector. He most recently served as President and Chief Executive Officer of ANSYS, Inc., an engineering simulation software provider, from 2017. Prior to that, he held leadership positions at companies such as Silver Lake Partners, Hewlett Packard Software, CA Technologies, and Symantec.

Mr. Gopal's appointment is significant due to his deep experience in technology leadership, corporate strategy, and governance. His expertise, particularly from his tenure at ANSYS and other major tech firms, is expected to provide valuable insights and strengthen the oversight capabilities of Fiserv's Board of Directors, especially in areas like risk management and strategic planning.

Mr. Gopal will serve on the Risk Committee and the Nominating and Corporate Governance committees of Fiserv's Board of Directors.

Mr. Gopal will participate in Fiserv's standard non-employee director compensation arrangements and will be eligible for the Fiserv, Inc. Non-Employee Director Deferred Compensation Plan. He will also enter into the Company’s Non-Employee Director Indemnity Agreement.