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Posted 25 January, 2022

HENRY JACK & ASSOCIATES INC appointed new CEO

CEO Change detected for ticker Nasdaq:JKHY in a 8-K filed on 25 January, 2022.


  In connection with the appointment, David B. Foss, the Company's Board Chair and Chief Executive Officer, relinquished his title as President effective January 25, 2022.  

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Overview of HENRY JACK & ASSOCIATES INC
Business/Consumer Services • Computer Services
Jack Henry & Associates, Inc. is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information. The Payments segment includes secure payment processing tools and services including ATM, debit, and credit card processing services, online and mobile bill pay solutions, ACH origination and remote deposit capture processing, and risk management products and services. The Complementary segment focuses on additional software, hosted processing platforms, and services including call center support, network security management, consulting, and monitoring. The Corporate and Other segment offers hardware and other products. The company was founded by Jerry D. Hall and John W. Henry in 1976 and is headquartered in Monett, MO.
Market Cap
$12.7B
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HENRY JACK & ASSOCIATES INC by TradingView
Relevant filing section
Item 5.02 

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 21, 2022, the Board of Directors (the "Board") of Jack Henry & Associates, Inc. (the "Company") appointed Gregory R. Adelson as President of the Company, effective January 25, 2022. Mr. Adelson will also continue to serve in his existing role as Chief Operating Officer of the Company, which position he has held since November 2019. 


In connection with the appointment, David B. Foss, the Company's Board Chair and Chief Executive Officer, relinquished his title as President effective January 25, 2022. Mr. Foss will continue to serve as the Company's Board Chair and Chief Executive Officer.


On January 21, 2022, in connection with Mr. Adelson's appointment, the Compensation Committee of the Board approved certain modifications to the compensation arrangements with Mr. Adelson. The modifications are effective as of February 1, 2022. Mr. Adelson's base salary was increased to $501,407 and his annual cash incentive bonus target of 100% of his base salary for the current fiscal year will be based fully on this increased base salary for a target amount of $501,407.


Any information required by Items 401(b), (d) and (e) and Item 404(a) of Regulation S-K is disclosed in the Company's proxy statement filed with the Securities and Exchange Commission on October 4, 2021.


Additional information regarding Mr. Adelson's appointment as President is detailed in the Company's press release dated January 25, 2022, the text of which is attached hereto as Exhibit 99.1.