Truist Names Outsider as New CEO. The Executive Had a Key Role at Bank of America
Lyons leaves Fiserv after 13 months as the payments company faces activist pressure and a 70% share drop over the past year.
- On Monday, Truist Financial hired Fiserv CEO Mike Lyons as its next president and CEO, succeeding Bill Rogers, who will transition to executive chair on September 1.
- Fiserv shares dropped about 70% over the past year amid shareholder lawsuits and operational struggles. Lyons' departure follows a tumultuous 13 months leading the payments processor as he attempted to stabilize the business.
- Co-President Takis Georgakopoulos will immediately assume the Fiserv CEO role. The company faces pressure from activist investor Jana Partners, which has urged asset sales and board refreshment.
- As Truist CEO, Lyons will receive a $1.3 million salary and at least $12 million in long-term incentive awards this year. Analysts view the leadership swap as a move to reinvigorate the bank.
- Lyons designated 2026 as a transition year for Fiserv before his departure, while Rogers remains as Truist's executive chair until his retirement in April 2027.
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Truist names outsider as new CEO. The executive had a key role at Bank of America
Truist bank named a new president and CEO Monday: Michael Lyons, effective Sept. 1. He will replace Bill Rogers, who will become executive chair when Lyons takes over as part of Truist’s leadership succession strategy.
Why Fiserv Plunged Today
Key PointsFiserv announced CEO Mike Lyons was leaving the company to take another CEO role. It adds to the uncertainty of Fiserv's turnaround plans. However, it's possible the change was pushed by Fiserv's prominent activist investor. 10 stocks we like better than Fiserv › Shares of Fiserv (NASDAQ: FISV) plunged on Monday, falling 11.3% as of 3:26 p.m. The decline was all the more notable since the broader markets were up in the wake of the past…
News & Record
Winston-Salem JournalTruist taps former Fiserv chief Michael Lyons as next CEO
Most recently, he was chief executive of Fiserv Inc., a global financial technology and payments company.
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