The company said its board adopted a succession plan on January 19, 2024 under which Gregory R. Adelson will be appointed Chief Executive Officer and President effective July 1, 2024. Adelson currently serves as Chief Operating Officer and President.

1. 01

   The company said its board adopted a succession plan on January 19, 2024 under which Gregory R. Adelson will be appointed Chief Executive Officer and President effective July 1, 2024. Adelson currently serves as Chief Operating Officer and President.

2. 02

   The company said David B. Foss, who currently serves as Board Chair and Chief Executive Officer, will resign as CEO effective July 1, 2024 and take on the role of Executive Board Chair. The press release said Foss will retire from his current role on June 30, 2024.

3. 03

   Adelson joined the company in 2011 as Group President of iPay Solutions, was promoted to General Manager of JHA Payment Solutions in 2014, and became COO in 2019 and President in 2022, the company said. He is responsible for all business lines, technology, infrastructure, and sales.

4. 04

   The company said that during Foss's tenure as CEO, revenue and net income each grew by approximately 50% since 2016, reaching $2.08 billion and $367 million, respectively, as of the end of fiscal year 2023. It also said Foss led more than 25 acquisitions over his 25 years at the company.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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