Jack Henry shakes up leadership

Mark Forbis plans to retire Nov. 15.

Monett-based financial software firm Jack Henry & Associates (Nasdaq: JKHY) announced the retirement of its chief technology officer and the promotion of two other executives.

Mark Forbis, CTO and executive vice president, is scheduled to retire Nov. 15 after three decades with the company. Company executive Ted Bilke is slated to succeed him, and another, Greg Adelson, is being promoted to a newly created chief operating officer position, according to a news release.

“While we will miss Mark, we're fortunate to benefit from Ted's leadership and expertise as our new CTO,” Jack Henry President and CEO Davis Foss said in the release.

Forbis, who joined Jack Henry in 1988, earned total compensation of $981,194 for the company’s fiscal year that ended June 30, 2018, according to the company’s latest proxy statement filed with the U.S. Securities and Exchange Commission in October 2018.

Effective with Forbis’ November retirement, Bilke and Adelson will take on their new roles, according to the release.

Bilke is currently vice president of Jack Henry and president of its Symitar division, while Adelson is a company vice president and general manager of its JHA Payment Solutions unit.

Jack Henry in August reported a 26% drop in annual profits to $271.9 million for its fiscal year that ended June 30.

JKHY shares were trading at $145.15 as of 10:34 a.m., compared with a 52-week range of $120.20 to $162.08.