James B. Lipham is retiring as senior executive vice president and chief financial officer at Total System Services Inc.
The TSYS board of directors has appointed Paul M. Todd to replace Lipham in those roles, TSYS says in a May 5 press release. The changes take effect June 30, the Columbus, Ga.-based payment processor and merchant services provider says.
Lipham has been an instrumental figure and key player in the success of TSYS for almost 30 years, TSYS chairman of the board and CEO Philip W. Tomlinson states in the release.
"Since 1984, through our periods of greatest growth, diversification and expansion, his contributions to our company and its shareholders have been innumerable," Tomlinson says.
Todd joined TSYS in 2008 as its executive vice president for strategy, mergers and acquisitions, product and marketing. Over the past four years, Todd directed TSYS' diversification strategy that included four acquisitions in the direct merchant acquiring business and TSYS' largest acquisition, NetSpend, which occurred last year.
Prior to TSYS, Todd was president and chief executive officer of Synovus Financial Management, a unit of Synovus Financial Corp.
"Paul brings a deep knowledge of our business and is a driving force in TSYS' diversification strategy," M. Troy Woods, TSYS' president and chief operating officer, states in the release.