Fintech Giant FIS Hires James Kehoe as CFO

(Source: LinkedIn)

Fintech giant FIS announced the appointment of James Kehoe as its Chief Financial Officer (CFO) from August 21, 2023, succeeding Erik Hoag, who has decided to depart the company to explore new ventures. Hoag will continue to be associated with the company as a non-executive officer until the end of the year and will collaborate closely with Kehoe to ensure a smooth and organized transfer of duties.

Kehoe brings to FIS a wealth of experience as a top-level financial executive and senior leader in various prominent multinational corporations. Most recently, he held the position of Executive Vice President and Global Chief Financial Officer at Walgreens Boots Alliance from 2018. Before that, he served as the Global CFO and a Board Director at Takeda Pharmaceutical Company, the largest pharmaceutical company in Japan. Kehoe also held the role of CFO at Kraft Foods Group and Gildan Activewear.

Kehoe earned his Bachelor's Degree in Commerce from University of Galway and a Master's Degree in Business Studies in Finance from University College Dublin.

Stephanie Ferris, CEO and President of FIS, commented on the appointment: "We are pleased to welcome James Kehoe to the FIS team. He is an accomplished and internationally experienced CFO with a distinguished record of success in driving shareholder value. As a results-driven leader, he brings a dynamic, forward-thinking mindset to create innovative business and financial strategies that unlock top- and bottom-line growth. We look forward to working with James to advance our strategic roadmap and achieve our long-term objectives."

Ferris added: "I would like to thank Erik for his many contributions to FIS over his 16 years with the company in progressively more responsible roles. He has played an instrumental role in the growth of FIS during a transformational period of modernization, developing the financial strategy and planning behind multiple transactions and investment programs as well as key transformation initiatives. We are thankful for his significant contributions over his tenure and we wish him the best in his future endeavors."

Kehoe, new CFO at FIS, said: "I am excited to join a leading player in the global financial infrastructure as it continues to take bold action to achieve its next chapter of growth and transformation. FIS is highly regarded for scaled and trusted platforms, marquee clients, global distribution, and strong cash generation, and I am energized by the opportunity to join at this critical juncture and help drive superior financial and operational execution in the years ahead."
Earlier this month, the fintech firm released its financial results for the second quarter ended June 30, 2023, recording the revenue of $3,746 million, increasing by 1% on a GAAP basis and 2% on an organic basis as compared to the prior-year period to $1.7 billion primarily due to higher recurring revenue from processing volumes and professional services.