Former CEO switches roles at Jack Henry

Former Jack Henry & Associates Inc. (Nasdaq: JKHY) CEO David Foss has switched roles within the company.

Foss stepped down from his executive chair position on June 30, and he's continuing to serve the company as board chair and director, according to a July 1 filing with the U.S. Securities and Exchange Commission.

"Following a brief period when Mr. Foss will serve in a nonexecutive employee role with the company, Mr. Foss will be compensated in his role as a nonemployee director on the same terms as the other nonemployee directors, plus a board chair annual retainer, anticipated to be $100,000," the SEC filing reads, noting the change was "part of a leadership transition plan."

Jack Henry’s most recent proxy filing with the SEC indicates board directors earned total compensation in the $200,000s and $300,000s in the company’s latest full fiscal year.

The SEC filing yesterday notes Foss is no longer an executive officer at Jack Henry with the change.

Foss became Jack Henry's executive chair in 2024, when he was succeeded by Greg Adelson as CEO, according to past Springfield Business Journal reporting. Foss had relinquished his president title to Adelson two years prior as part of the transition plan. 

Foss, who joined Jack Henry in 1999, had served as CEO since 2016 before the 2024 transition.

Jack Henry, a Monett-based financial software company, reported a 27.6% increase in profits to $111.1 million and an 8.6% increase in revenue to $585.1 million during its fiscal third quarter that ended March 31, according to past reporting. 

JKHY shares were trading at $178.31 as of 9:55 a.m., compared with a 52-week range of $158.62 to $196 per share.