Maria Rueda, Heartland Payment Systems' chief financial officer, submitted her resignation on Sept. 25, according to an 8-K filing on Oct. 1.

Rueda joined Heartland in April 2011. She had experience with a number of non-public companies including ING Direct and Bloomberg Tradebook. In seeking her replacement, Heartland may choose a new CFO with more experience at publically traded companies, Janney Capital Markets said in an Oct. 2 research note.

"The driving forces behind the company, CEO and Founder Bob Carr, and Vice Chairman Bob Baldwin, remain at the helm. We suspect Bob Baldwin to fill in the void left by Ms. Rueda until a replacement is hired. We spoke with management and there is no timetable for the hiring of a new CFO to replace Ms. Rueda," said the Janney note, which was written by senior equity analyst Thomas McCrohan and senior equity research associate Leonard DeProspo.

Heartland did not return a request for comment by deadline.

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