Summary
Fiserv, Inc. (FISV) announced a significant leadership transition via an 8-K filing on June 15, 2026. Effective immediately, Michael P. Lyons has resigned as Chief Executive Officer and a member of the Board of Directors. The company stated that Mr. Lyons's resignation was not due to any disagreements regarding company operations, policies, or practices. He will receive only his accrued salary and no severance or equity benefits. Concurrently, Fiserv has appointed Takis Georgakopoulos as the new Chief Executive Officer and a member of the Board, effective June 14, 2026. Mr. Georgakopoulos, who most recently served as Co-President, Head of Merchant and Technology, brings extensive experience from his prior roles at Fiserv and JPMorgan Chase. His appointment is accompanied by a new compensation package, including a substantial base salary, incentive compensation, and significant equity awards, detailed in his offer letter. Additionally, Dhivya Suryadevara's title has been updated to President. The filing also discloses an equity award for CFO Paul M. Todd in connection with his resignation rights.
Key Highlights
- 1Michael P. Lyons has resigned as CEO and Board member, effective immediately.
- 2Mr. Lyons's resignation is stated to be without cause and not due to any disputes with the company.
- 3Takis Georgakopoulos has been appointed as the new CEO and Board member.
- 4Mr. Georgakopoulos's compensation package includes a base salary of $1,300,000, a target annual cash incentive of 200% of base salary, and a significant annual equity incentive opportunity.
- 5Mr. Georgakopoulos will receive a $6,000,000 promotion equity award consisting of Performance Share Units (PSUs) and Restricted Stock Units (RSUs).
- 6Dhivya Suryadevara's title has been updated to President.
- 7CFO Paul M. Todd received a $5,000,000 RSU award as consideration for acknowledging limitations on his resignation rights.