Well, it’s finally happening. Word from the top floor is that SF is officially getting the boot.
An exec (who shall remain nameless) confirmed that the Board of Directors spent most of last week in a "closed-door" session. The vibe was tense, and the topic was simple: the stock price is in the basement and someone has to take the fall.
It’s not exactly a surprise. The whole "AI on top of legacy tech" pivot has been a total disaster. We all saw the Zafin integration turn into a massive headache, and it looks like the Board finally lost patience with the "trust the process" narrative.
Expect an "official" PR-friendly announcement soon, but we all know the real reason why.
31 replies (most recent on top)
@38r shame on you for getting my hopes up OP
@OP This didn't age well.
@e0 have to stop the bleeding somewhere though, even if there's a short term loss
@df good Lord, another $40m "earned" in a 10k. See the world pay doc for what she made when it was acquired.
@a6 LMAO, seriously we could only be so lucky to get us back to being a good company.
Can anyone else confirm this rumor that she is out?
She was only qualified to do m&a. She has been a cfo all her life and is not qualified to be a product ceo. Fis sells tech but if you look at the exec structure it doesn’t look like a product company at all. Lots of shuffles with no real meaningful progress. The platform experiment with ex google people also failed. Hopefully they hire a banking or payment tech product leader from stripe or square
@df
Wtf
I’ll be ceo and gladly get fired for that price.
He-l I’d do a better job.
@OP Yeah, I will believe it when I see an official confirmation. Not getting my hopes up. And her getting the boot doesnt necessarily mean things will get better. And if that is true, will she be bummed out by that? As other posters said, she will get a huge bonus at the end. It's win-win for her, lose-lose for employees.
@dh - this reply was meant for the 'Bummer though, per the 2024 proxy statement, here’s what she gets if she’s fired:' comment!
@edf - omg, literally WTF!
If this is true, great news - she is a terrible person and an even worse CEO.
Bummer though, per the 2024 proxy statement, here’s what she gets if she’s fired:
-$9,560,620 cash
-$957,301 in stock options, depending on the strike price she’d probably lose money here. So exclude this from the totals
-$41,658,985(!!!!!!) in stock awards would vest immediately
So like $50M…..
@d8 she's not acting like she's out :(
If the rumors about the CEO are true, it’s the first piece of good news in a long time. What’s actually needed is a mass executive clear-out starting with Bob T, who seems to believe unchecked ego qualifies him as the obvious successor. Morale is completely dead, the stock has cratered, annual pay “increases” are a bad joke, and the constant invention of new job titles feels like leadership cosplay in place of real accountability and clarity.
Just saw a message from Stephanie on a tour. Looks that she is still leading……
@OP „everything we’re doing is working” says Ferris while a client moves a big chunk of work away from FIS
Huge if true, I applaud the board. Stephanie did not have the ability to navigate as a leader. Compare her to your favorite politician, she has a demeanor of uncertainty. We really need a CEO that champions the client experience as paramount to our sales. Not one that is stumbling through the latest tech trends. I hope the next CEO is one that brings us more inline with us as a banking company rather than another one of these cr-ppy tech sector leaders.
Please let this be true and go back to the days of hoping FIS is the last company you ever work for. I'm not saying everything was perfect under Gary but the moral was so much better. Please BoD, make this happen!!
Maybe they’ll also get rid of McKinsey.
@OP if true, i hope This gets the company on the right tracks again and not brings more chaos…
Maybe those recently impacted should apply for her job? It can't be difficult, if you are wise enough to surround yourself with the right staff, and evidently, there is an endless budget to do that, you could apply basic common sense and be wildly successful. Then you could RIF right at the top and see how they like it.
Bob T needs to be perp walked out the door
The CFO and CAO need to be let go with SF. They hate the company, speak negative to employees and they have not improved one process for FIS but cost a fortune.
The board has to do it. It will be a great day. SF ruined the company!
@OP would love to think that this is true, however, HER severance package will be very expensive. Legacy tech? Did she mean having to use tech that is a legacy to 1996? Imagine how many staff could be retained for the cost of her golden parachute.
Ferris should be in jail after what's she's done to this company. Nothing short of criminal!!
@OP This is the first layoff rumor that I hope is true.
Will it stop the RIF every 2 months??
@OP The first step in recovery is admitting you have a problem!
Now that’s a cost saving I can get behind!
Just don’t read the severance package - eye watering numbers expected