Financial tech provider sees big stock price drop
Milwaukee-based financial technology provider Fiserv Inc. is undergoing an executive shake-up after reporting earnings that were well below projections.
Fiserv reported adjusted earnings of $2.04 per share for the period ending Sept. 30. That compares to $2.30 per share for the year-earlier period.
Analysts had expected earnings of $2.65 analysts per share, according to Yahoo Finance. Fiserv’s stock price dropped sharply following the Oct. 29 announcement − which included quarterly revenue growth of just 1%.
The closing share price on Oct. 29 was $70.60, down 44%.
Fiserv also announced leadership changes.
Takis Georgakopoulos, Fiserv’s current chief operating officer, technology and merchant solutions, and Dhivya Suryadevara, most recently CEO of Optum Financial Services and Optum Insight at UnitedHealth Group, will serve as co-presidents, effective Dec. 1.
Also, Paul Todd has been appointed chief financial officer, effective Oct. 31. Todd, who previously served as CFO of Global Payments, succeeds Bob Hau, who will serve as a senior advisor through the first quarter of 2026.
In addition, Gordon Nixon, Céline Dufétel, and Gary Shedlin will join the Fiserv board of directors effective Jan. 1.
“Our current performance is not where we want it to be nor where our stakeholders expect it to be,” said CEO Mike Lyons, in a statement.
Lyons said the company is launching “One Fiserv, an action plan focused on the pillars that have long distinguished the company, including great client service, value-added technology solutions and leading innovation.”
He said the announced changes will better position Fiserv “to drive sustainable, high-quality growth and reach our full potential.”
Lyons in May succeeded Frank Bisignano, Fiserv’s prior CEO, whom President Donald Trump appointed as commissioner of the Social Security Administration.
Tom Daykin can be emailed at [email protected] and followed on Instagram, Bluesky, X and Facebook.
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