Electronic commerce and payment processing firm First Data Corporation, has announced that CEO Jon Judge plans to retire from the company for health reasons. Mr. Judge informed the Board of Directors of his decision this week and has received its full support.
First Data’s Board of Directors will conduct a search for a new CEO; Mr. Judge will remain in his position until a transition is effected.
“While my plans didn’t anticipate such an early retirement, those plans needed to be changed for the benefit of my health,” said Judge. “The directors have been very understanding and very gracious in their accommodation.”
“We appreciate all the results Jon has accomplished at First Data. He has provided great leadership and helped us take action to make First Data ‘a great place to work,’” said Board Chairman Joe Forehand. “Jon has helped the company drive a customer-first focus. Over the last eight quarters under Jon’s leadership First Data’s EBITDA has grown significantly. We’ve made great progress in bringing new, innovative products to market and we are a leader in the ongoing changes impacting the payments industry. We will miss Jon’s leadership and wish him well in his recovery.”
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