Fiserv CEO Frank Bisignano was selected by President-elect Donald Trump to serve as commissioner of the Social Security Administration.
Bisignano, who is also Fiserv’s chairman and president, would need Senate confirmation before taking on the role. Fiserv said he will remain its leader until confirmation occurs, adding that it has “an established, long-term succession plan.”
“I am honored to have this once-in-a-lifetime opportunity to serve my country,” Bisignano said in the release. “I thank President-elect Trump and, if confirmed, look forward to applying my experience to transform our social security system.”
“Succession planning has always been a priority for the board, and we will follow our well-established succession planning process to select a new CEO to continue to build on this momentum,” Doyle Simons, Fiserv’s lead director, said in the release.