The CEO of payment processor TSYS is retiring.
Philip W. Tomlinson will stay on as executive chairman of Columbus-based TSYS’ board until the 2015 annual meeting. But he’ll be replaced as CEO by M. Troy Woods at the end of July.
“This transition is the result of a carefully developed long-term succession plan and the passing of the torch will be seamless,” Tomlinson said in a statement. “Troy has the acumen, vision and energy needed to take TSYS further along its journey to be the leading global payments solutions provider.”
Woods has most recently guided TSYS’ diversification into direct merchant acquiring businesses and providing prepaid services. He started at Columbus Bank and Trust Co. in 1970 and left for a decade before returning in 1987.
“It is a tremendous privilege to serve this great company and team members who are passionate about the business,” Woods said in a statement.
TSYS’ revenues were $2.1 billion at the end of 2013.
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