We have to separate fact from opinion.
SF was CFO of WP when FIS acquired WP. She was appointed COO with a primary responsibility of integration of WP and FIS. Integration was so bad FIS paid an additional 950 million in 2022 for acquisition and integration costs. They settled a lawsuit for 210 million associated with the acquisition of WP. Would we agree SF did not properly integrate the two companies?
Next, she is designated as Chief Administrative Officer 2021 to 2022. Primary responsibility included transformation, M&A, and technology. I think all of FIS/WP employees would agree this didn’t happen.
Her reward, appointment as CEO of a Fortune 500 company with experience of only accounting and finance. Company Stock price Dec 16, 2022 was 69.17. Today, it is 37.47. This what 20+ million a year in CEO comp for SF earns you.
When will the firings end? It isn’t ending soon. As part of the agreement with DE Shaw, FIS agreed to 400 million in cost savings. To avoid major disruption in the business and the Warn Act, FIS is laying off people over a three year period.
Follow the money, DE Shaw share sales in subsequent FIS announcements post Dec 2022. They forced these changes. FIS BOD appointments and historical relationships with DE Shaw, Janu Partners and SF. What backroom deals between Goldstein, Ernst and DE Shaw were agreed?
Make it make sense. 20+m a year, stock price free fall, increase in C Suite personnel compared to legacy FIS, advisor fees so high CFO commented on it, nepotism hires with Performance Officer, CAO, HR. What has this C-suite and SF accomplished?
This is the same CEO that created Future Foreward, implemented all these cost savings with promised payouts, delayed payouts, divided up payout over two years and then let people go before payment. This is the FIS culture. A CFO that hates Jacksonville and US culture. A failed CAO from Hertz because they were friends in Cincinnati. BT was her best friend at WP with no accomplishments at FIS. BT is an over priced puppet. Sad part, entire company run by McKinsey.
FIS got what it deserved. SF set out to do what she promised, fire all legacy FIS and the board has done nothing.