Key facts
- Fiserv President Dhivya Suryadevara resigned for "good reason" as per her employment agreement.
- Suryadevara will continue as a non-executive employee until July 31 to support the transition.
- Andrew Gelb and Srini Krish have been appointed as interim leaders for Fiserv's Financial Solutions business.
- The company confirmed Suryadevara's departure and thanked her for her contributions.
- Fiserv stated that its "One Fiserv Action Plan" and strategy remain unchanged.
Fiserv announced that its president, Dhivya Suryadevara, has resigned for "good reason" under the terms of her employment agreement, according to a July 7 filing with the Securities and Exchange Commission. Suryadevara, who was appointed president on June 15, will remain with the company as a non-executive employee through July 31 to assist with the transition, continuing to receive her salary and benefits.
Andrew Gelb, executive vice president and chief operating officer for financial solutions, and Srini Krish, head of technology and operations for financial solutions, have been named interim leaders of Fiserv’s Financial Solutions business, effective July 7. Both have been with the company for 12 years.
Separately, The Wall Street Journal reported that several major banks, including JPMorgan Chase, Bank of America, Wells Fargo, and PNC Financial Services, have engaged in preliminary discussions regarding the potential acquisition of one of Fiserv's debit payment networks. Owning such a network could allow banks to bypass federal interchange fee caps imposed by the Durbin amendment, potentially leading to higher fees on debit transactions. However, previous attempts at similar deals have faced regulatory scrutiny.
Fiserv confirmed Suryadevara's departure, stating, "We thank her for her contributions." The company also affirmed that its "One Fiserv Action Plan" and strategic priorities remain unchanged, emphasizing a focus on client-first approaches, innovation, and platform modernization.