Exhibit 99.1
Company: Jack Henry & Associates, Inc. Analyst Contact: Kevin D. Williams
663 Highway 60, P.O. Box 807 Chief Financial Officer
Monett, MO 65708 (417) 235-6652
IR Contact: Jon Seegert
Director Investor Relations
(417) 235-6652
FOR IMMEDIATE RELEASE
JACK HENRY ANNOUNCES MANAGEMENT CHANGES
- Proven Managers Assume New/Expanded Roles -
Monett, MO - May 8, 2006 - Jack Henry & Associates, Inc. (Nasdaq: JKHY), a
leading provider of integrated computer systems and ATM/debit card/ACH
transaction processing, today announced five management changes. During the
company's May 5, 2006 Board of Directors meeting, each of the current
managers appointed to new or expanded positions was approved.
Vice President and Chief Technology Officer Position Created; Mark Forbis
Appointed
Based on the growing complexity of technology and its growing importance
among Jack Henry's more than 8,600 clients, and the ever-expanding array of
technology-driven products and services that Jack Henry offers, the Vice
President and Chief Technology Officer position was added as a strategic
component of the company's executive management team. Mark Forbis was
promoted to fill this newly created position.
Mr. Forbis began his career in 1982 as a data center operator. He joined
Jack Henry is 1988 and performed a variety of technology-related and
management positions, most recently serving as the General Manager of
Technology Services. During the past four years in this key management
position, he provided executive oversight of the development groups
supporting Jack Henry's core banking and credit union systems, and
approximately 15 of the fully integrated complementary solutions. His
management responsibilities also included the Quality Assurance,
Documentation, and Emerging Technology Research departments; and Jack
Henry's Project Management Office. He will assume his new responsibilities
immediately and continue to be based at the company's Monett, Missouri
headquarters.
Tom Walsh Resigns as General Manager of Marketing and Industry Research,
Debbie Wood Named as Successor
Based on the desire to dedicate more time to personal interests, Tom Walsh
elected to resign his position as General Manager of Marketing and Industry
Research, effective June 30, 2006. Mr. Walsh has performed a variety of key
management roles after joining the company in 1998. He will remain at Jack
Henry to manage a variety of strategic and tactical planning projects during
an abbreviated work schedule and to ensure a smooth transition of his
current responsibilities to his successor.
Debbie Wood was named to assume the position vacated by Mr. Walsh. Ms. Wood
joined Jack Henry in 1995 and has served in progressive sales and sales
management positions, most recently as the National Sales Manager for Jack
Henry's retail delivery solutions. Her 30-year career in the banking
industry began as a part-time bookkeeper in a community bank and progressed
to executive vice president before she leveraged her experience to enter the
technology solutions industry. Ms Wood will assume her new responsibilities
on July 1, 2006 and continue to be based in Jack Henry's Charlotte, North
Carolina office.
General Manager of Finance Position Created; Renee Swearingen Appointed
Based on the growing functional and management responsibilities assigned to
Jack Henry's Corporate Controller position it has been elevated to General
Manager of Finance.
Renee Swearingen has been promoted to assume this newly created position
after serving as Jack Henry's Corporate Controller since 2001. Ms.
Swearingen joined Jack Henry in 1996 and has successfully served in a
variety of key finance positions. She is a Certificated Public Accountant
and prior to joining Jack Henry spent five years in public accounting
practices where she gained extensive experience in auditing, tax, business
planning, and finance-related consulting. Ms. Swearingen will assume her
new responsibilities immediately and continue to be based at the company's
Monett, Missouri headquarters.
Marguerite Butterworth, Vice President/General Manager of Hardware and
Vendor Relations, Announces Retirement
Marguerite Butterworth previously announced her plans to retire on June 30,
2006. Since joining Jack Henry in 1983, Ms. Butterworth established and
maintained beneficial hardware and vendor relationships, and demonstrated
exceptional dedication to supporting Jack Henry's clients with practical and
powerful hardware components.
Following Ms. Butterworth's retirement and based on Jack Henry's goal to
continually refine its business processes and maximize existing resources,
the Hardware and Vendor Relations Department will be merged with the Sales
Support Department. The integration of these closely related functions is
expected to optimize coordination and operational efficiencies, and provide
a more streamlined sales process.
According to Jack Prim, CEO of Jack Henry & Associates, "Each of these
associates - those leaving us as well as those that are assuming expanded
responsibilities - has made tangible contributions to Jack Henry's growth
and progress. We respect and appreciate Marguerite's and Tom's long-time
contributions; and believe the commitment, experience, and enthusiasm that
Mark, Debbie, and Renee bring to their new positions provide even greater
opportunities for them to positively impact our business. The ability to
staff these three senior positions with highly qualified internal candidates
is a testament to our formal succession plans that enable us to respond to
the uncommon but sometimes unavoidable departure of key managers."
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a leading provider of integrated computer
systems and processor of ATM/debit card/ACH transactions for banks and
credit unions. Jack Henry markets and supports its systems throughout
the United States, and has more than 8,600 customers nationwide. For
additional information on Jack Henry, visit the company's Web site at
www.jackhenry.com.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from
those projected in any forward-looking information. Specifically, there are
a number of important factors that could cause actual results to differ
materially from those anticipated by any forward-looking information.
Additional information on these and other factors, which could affect the
Company's financial results, are included in its Securities and Exchange
Commission (SEC) filings on Form 10-K, and potential investors should review
these statements. Finally, there may be other factors not mentioned above
or included in the Company's SEC filings that may cause actual results to
differ materially from any forward-looking information.
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