TSYS said Monday that Jim Lipham, its longtime chief financial officer, will retire at the end of June.
Lipham, also a senior vice president, has been with the Columbus-based credit-card and payments processor since 1984.
The company said Paul Todd has been approved by its board of directors to fill the vacancy left by Lipham effective July 1. Todd has been with TSYS since 2008, serving as executive vice president for strategy, mergers and acquisitions.
TSYS Chairman and Chief Executive Officer Phil Tomlinson, in a statement, called both of the executives “incredible individuals.”
“Jim has been an instrumental figure and key player in the success of TSYS for almost 30 years,” he said. “Since 1984, through our periods of greatest growth, diversification and expansion, his contributions to our company and its shareholders have been innumerable. Jim’s vision and leadership guided the company in its spin-off from Synovus and TSYS’ investment grade credit ratings from Standard and Poors and Moody’s.”
Todd previously was with Synovus Financial Corp., the Columbus-based regional bank that spun its longtime card-processing subsidiary, TSYS (also known as Total System Services), off as a standalone company at the end of 2007. Todd served as president and CEO of Synovus Financial Management.
With TSYS, Todd has overseen the firm’s purchase of several merchant-related businesses, as well as its $1.4 billion acquisition last summer of Austin, Texas-based NetSpend Holdings, now a subsidiary of the Columbus firm.
“Paul brings a deep knowledge of our business and is a driving force in TSYS’ diversification strategy,” Troy Woods, TSYS president and chief operating officer, said in statement. “He is respected by his colleagues and has demonstrated the drive and energy to guide TSYS along its journey to be the leading global payments solutions provider.”
TSYS did not release compensation numbers for Todd. Lipham, however, earned a base pay of $439,000 in 2013, along with stock options and awards that pushed his total package to $1.2 million, according to a company filing this year with the U.S. Securities and Exchange Commission.