Jeff Yabuki, one of the highest-paid executives in the Milwaukee region and CEO and chairman at multibillion-dollar financial services technology company Fiserv Inc., is stepping down.

In an announcement from the Brookfield-based company Thursday, Yabuki will step down from his 15-year career with the company and will be succeeded by current president and chief operating officer Frank Bisignano on July 1. Yabuki will continue to serve as executive chairman of the Fortune 500 company's board for the remainder of 2020.

In recent weeks, Yabuki had taken a 100% base salary pay cut to financially support Fiserv's employees during the COVID-19 pandemic.

Since Yabuki became CEO in 2005, Fiserv has achieved substantial financial and business success, including:

  • Transformed the company into the world’s leading payments and financial services technology provider with approximately 44,000 associates globally;
  • Achieved Total Shareholder Return of 969% through 2019; Outperformed the S&P 500 Index each of the last 14 years;
  • Achieved double-digit adjusted earnings per share growth each year and continued the streak of 34 consecutive years;
  • Named a FORTUNE World’s Most Admired Company® for seven consecutive years and nine of the last 10 years; and
  • Increased associate engagement to be in the top quartile of all large employers.

Read the announcement.