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Former Jack Henry CEO exits executive chairman role

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Former Jack Henry & Associates (Nasdaq: JKHY) CEO Jack Prim stepped down as the company’s executive chairman more than two years after he was replaced as chief executive.

Prim stayed on as chairman of the Monett-based financial software firm’s board, according to a U.S. Securities and Exchange Commission filing.

Prim will be paid an annual chairman retainer of $100,000, as well as compensation for his role as nonexecutive director on the board, according to the filing.

In July 2016, Prim was succeeded as Jack Henry’s CEO by David Foss, who had been the company’s president since 2014. During the transition, Prim became executive chairman.

According to the SEC filing, the transition plan also stipulated Prim would exit his role as executive chairman to become board chairman.

Foss joined Jack Henry in 1999 after working to sell the community-banking division of Dallas-based BancTec. He was promoted to president in 2009, according to Springfield Business Journal archives.

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