A top executive with TSYS has resigned his position, effective Oct. 7, the Columbus-based credit-card and payment processor said Thursday.
John Shlonsky came to TSYS in early April with the firm’s $2.35 billion buyout of Hauppauge, N.Y.-based TransFirst, a company specializing in setting up and servicing merchants for card transactions and other business needs. Prior to the acquisition, he was president and chief executive officer at TransFirst.
At TSYS, also known as Total Systems Services, he held the position — albeit only six months — of TSYS senior executive vice president and president of Merchant Services, which includes TransFirst’s offices in Colorado, Tennessee and California, as well as those in Omaho, Neb., which TSYS operated prior to the major deal.
“I’m so excited for all of us here at TransFirst and TSYS,” Shlonsky said on a conference call as TSYS was announcing the largest acquisition in its history in late January. He expressed comfort with TSYS and its overall operations and atmosphere.
“I can tell you firsthand from my interaction with TSYS and, particularly, with the executive team, it makes me feel confident that our values and how we treat each other and our clients are firmly aligned,” Shlonsky said.
The global card and payment processor said Thursday that President and Chief Operating Officer Pamela Joseph will handle oversight of the merchant business to “ensure a seamless leadership transition” as the firm searches for Shlonsky’s replacement. Joseph has been with the company since May, becoming the highest-ranking woman ever at TSYS.
Shlonsky’s resignation comes with TSYS carrying out a major restructuring called “TSYS 20/20,” with the company not disclosing the number of job cuts taking place across the company. Employees were notified about two months ago, with the restructuring expected to be completed at the end of the July-September quarter.
Troy Woods, TSYS chairman and CEO, said the effort is aimed at giving his company “the ideal operating structure to maximize efficiencies and scale of our operations.”