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TSYS Announces NetSpend Leadership Transition

Stocks in this article: TSS

TSYS (NYSE: TSS) today announced that Chuck Harris has been named senior executive vice president of TSYS and will continue to serve as president of NetSpend, a TSYS company. Harris succeeds Dan Henry as the top executive of NetSpend, who is leaving the company after serving in the role of chief executive officer since 2008. The leadership transition will be effective July 31, 2014.

In making the announcement, M. Troy Woods, president and chief operating officer, TSYS, stated, “TSYS and NetSpend are grateful for the tremendous leadership that Dan has provided. His vision and passion for providing payment options to deserving underbanked consumers have been an inspiration to our company, team members and the payments industry. We wish him well in every future endeavor.” Woods added, “It will be a seamless transition for Chuck to lead the NetSpend team. Having served as president since 2010, Chuck knows the company and the business well. Chuck is a 20-plus year veteran of the payments industry, and his depth of experience has elevated our ability to bring accessible and affordable financial services to the more than 68 million underbanked consumers in this country.”

"As a part of the TSYS family for a little over a year, I could not be more pleased with the reception and support that the NetSpend team has received,” Henry stated. “My decision to leave is a difficult one as the people at NetSpend are my heroes, and there are no finer people in payments than those who are at TSYS. However, with my home and family based in Kansas City, it’s time for me to pull back on my travel and spend more time at home. Chuck is the right person to take on this top leadership role and will surely grow NetSpend to new heights.”

Harris joined NetSpend as president in July, 2010, with responsibility for the partner, direct and corporate paycard lines of business, as well as the company’s products, technology and operations. Harris joined NetSpend from Intuit where he had served as general manager of the company’s payment solutions division. Prior to Intuit, he served as chief executive officer, president and chief operating officer of Electronic Clearing House (ECHO), an electronic payment solutions provider that was acquired by Intuit in 2007. Earlier in his career, Harris also served with Paymentech and its Merchant Link subsidiary.

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