FIS sees another director resign. July 8, 2026 Dive brief: * Keith Hughes resigned from the Fidelity National Information Services board last week for "personal reasons," according to a filing the payments processor made with the Securities and Exchange Commission Wednesday. * The company, known as FIS, said Hughes was already "scheduled to retire from the Board and not stand for re-election" at its upcoming annual shareholders meeting this year because of "mandatory retirement age policies." That means he's likely exiting a few months earlier than planned. It's not clear when the company will hold its annual meeting, but last year it was in May. * "Mr. Hughes advised the Company that his decision to resign as of January 19, 2023 was due to personal reasons and was not related to any disagreement with the Company," the filing by the Jacksonville, Florida-based company said. Dive insight: Last week, FIS board member Mark Ernst, who served for only a few weeks, resigned after a former employer objected to him joining the FIS board, according to a prior company disclosure with the SEC. Ernst, who joined the board only last month, was formerly chief operating officer at FIS rival Fiserv from 2011 to 2018, according to his LinkedIn profile. At the same time it announced Ernst's resignation on Jan. 20, FIS said it had appointed two new directors to its board, Mark Benjamin and Lee Adrean, but it wasn't clear whether there was another board member resigning, or if the company planned to expand the number of directors. With the Hughes resignation, it appears that the number of directors will remain the same. A spokesperson for the company didn't immediately respond to a request for comment about the latest board resignation, or a date for the upcoming annual meeting. Benjamin, and Ernst before him, were appointed to the FIS board as part of the company's cooperation agreement signed last month with a new activist investor, the hedge fund D.E. Shaw. The turnover in directors on the FIS board follows the investments of D.E. Shaw and another activist investor, JANA Partners, last year. Both of the new investors have in the past pushed companies to take certain actions.A lengthy Dec. 14 agreement with D.E. Shaw that FIS included in a prior SEC filing, shows D.E. Shaw plans to play an active role at FIS, which has been struggling to boost shareholder value. Some shareholders have been pressing FIS to consider selling parts of its business, maybe even its entire merchant business. In conjunction with the disclosure of the new investors last month, FIS said it would pursue "a comprehensive assessment of the Company's strategy, businesses, operations and structure with the goal of positioning the Company to drive stronger results, increase shareholder value and enhance client services." That was in addition to a $500 million cost-cutting plan undertaken late last year after the company's then-CEO Gary Norcross and then-President Stephanie Ferris expressed disappointment with third-quarter financial results. Norcross accelerated his departure as CEO last year and agreed not to remain on the board, handing the CEO post to Ferris last month. After the exit of Norcross, Jeffrey A. Goldstein, the board's lead independent director, became chairman and Ferris joined the board. FIS noted previously that the board has added five new directors in the past two years, including Ferris.

The future of elite snowsports hangs in the balance as FIS elects new president amidst deep divisions. Belgrade, Serbia - June 8th, 2026 - The International Ski and Snowboard Federation (FIS), the global governing body for elite... Belgrade, Serbia - June 8th, 2026 - The International Ski and Snowboard Federation (FIS), the global governing body for elite snowsports, stands at a critical juncture today as delegates from 80 member nations convene in Belgrade, Serbia, for a presidential election that threatens to irrevocably split the organization. The outcome of this contest, scheduled for Thursday, will determine not only the leadership of FIS but potentially its very structure and future viability, with some observers warning of an unprecedented breakup. The incumbent president, Johan Eliasch, a Swedish-British billionaire and CEO of ski manufacturer Head, is seeking a third term in office. However, his tenure has been marked by significant controversy and growing dissent, particularly from the traditionally powerful ski nations. The opposition to Eliasch's leadership is so pronounced that he has reportedly had to assume Georgian citizenship to secure the backing of a national ski federation, a move unprecedented in the organization's history, to remain eligible for the election. Deepening Divisions and Accusations At the heart of the current turmoil are grave accusations leveled against Eliasch's administration. These include allegations of financial mismanagement, anti-democratic governance, and organizational irregularities. Critics portray his leadership style as dictatorial, characterized by a lack of dialogue and a confrontational approach rather than one focused on compromise and consensus-building. This perspective is echoed by prominent figures within the snowsports community. Diego Züger, CEO of Swiss Ski, articulated these widespread concerns in a statement to the Swiss newspaper Blick, stating, "Johan Eliasch has lost the trust of many national associations. The financial situation of the FIS is worrying. Governance, transparency and communication are so deficient that the overall situation is unacceptable for more and more associations." Conversely, Eliasch's supporters contend that he is a necessary force for change, challenging entrenched interests and modernizing an organization they believe had become stagnant. His platform, as outlined in his public statements, emphasizes investment and growth, with Eliasch reportedly telling the Associated Press, "Out of 80 voting nations there are about 10 that feel differently. We had a lot of cash in the bank, we invested that. We put the money to work." Financial Concerns and Key Resignations A significant point of contention revolves around the reported decline in FIS's financial assets. While these figures have not been officially confirmed or denied by the organization, reports suggest a dramatic shrinkage from approximately 130 million Swiss Francs (CHF) to 43 million CHF. This financial uncertainty has cast a long shadow over the proceedings. Underscoring the gravity of these financial concerns, Urs Lehmann, the former CEO of FIS, resigned from his position last week, citing his apprehension regarding the organization's financial health. While a political dimension to his departure is acknowledged, the underlying worries about FIS's fiscal stability are deemed genuine by many. The Contenders and the Voting Landscape The presidential race was initially contested by five candidates. However, in the days leading up to the Congress, Anna Harboe Falkenberg, Dexter Paine, and Victoria Gosling all withdrew their nominations. This has narrowed the field to a direct contest between Johan Eliasch and Alexander Ospelt from Liechtenstein. Ospelt, a lawyer by profession, brings a background in sports administration, having previously headed Liechtenstein's national ski federation and served on the FIS Council. His campaign message centers on restoring harmony within FIS, healing the divisions that have emerged, and fostering an environment of openness and transparency. He has pledged to "build bridges" between large and small associations, athletes, sponsors, media, and fans, advocating for a more inclusive and collaborative approach to governance. The voting dynamics are complex and heavily influenced by the structure of FIS. While larger skiing nations like Switzerland hold multiple votes, many smaller nations possess only one. However, with a total of 80 federations entitled to cast ballots, the collective voice of the smaller nations could prove decisive. Eliasch appears to be banking on the support of these smaller federations, who, according to reports, perceive him as a champion of their interests and a provider of a much-needed voice within the organization. The major ski nations - including Switzerland, Austria, Germany, Italy, Sweden, the USA, Canada, France, and Norway - have explicitly positioned themselves against Eliasch. These nations are reportedly leaning towards supporting Alexander Ospelt's candidacy. This bloc represents a significant portion of FIS's traditional power base and athlete development resources. Athlete Concerns Add to the Pressure The anxieties surrounding FIS's leadership are not confined to national federations and administrators. Prominent athletes have also voiced their unease. World Cup champion Marco Odermatt, a leading figure in alpine skiing, expressed his concerns, stating, "We have to say that not much has gone forward in recent years. I have also learned from insiders that the FIS has developed anything but positively in terms of finances. And that's why there's not much left but to make a change at the top of the FIS." Similarly, Olympic champion Mikaela Shiffrin commented on the prevailing sentiment among athletes: "Many of us athletes feel that the FIS and the current leadership have shown a significant lack of transparency." These statements highlight a growing disconnect between the athletes, who are the public face of the sport, and the governing body. A Legacy of Stability Under Scrutiny The current upheaval stands in stark contrast to the long period of stability experienced under the previous FIS President, Gian Franco Kasper. Kasper presided over the organization for 23 years, from 1998 to 2021. While some may have viewed his lengthy tenure as excessive, many now recall his leadership as providing a consistent and stable environment for the sport. Eliasch's takeover marked a departure from this era, promising modernization and a shake-up of established practices. The Stakes: A Divided Future or a New Dawn? The implications of Thursday's election are profound. If Johan Eliasch secures a third term, it is widely anticipated that FIS will remain deeply divided, with the major ski nations at loggerheads with his vision and potentially withholding cooperation. Some have even floated the possibility of these nations forming a breakaway organization to govern elite snowsports, a move that would undoubtedly fragment the global landscape of the sport. Conversely, should Alexander Ospelt emerge victorious, he will face the daunting task of rebuilding trust and unity within a deeply fractured organization. His mandate would be to mend the rifts and establish a more collaborative and transparent governance model. Regardless of the outcome, the consensus among many observers is that FIS is entering a period of profound challenge. The election is expected to be decided by an absolute majority, and the final vote count will reveal the extent of the divisions within the snowsports world. The coming days will be crucial in shaping the future trajectory of international skiing and snowboarding. Live Coverage and Future Outlook The 57th FIS Congress, where these pivotal decisions will be made, opens on Thursday, June 11th, at 09:00 CEST. The full session, including the presidential election, will be available for live viewing on FIS TV. Following the General Assembly, the newly elected FIS President is scheduled to hold a press conference, offering the first direct insights into the future direction of the organization from its new leadership. This event is keenly anticipated by snow sports enthusiasts, media, and industry stakeholders worldwide. The future of elite snowsports hinges on the votes cast today in Belgrade, with the outcome poised to redefine the governance and direction of a global sport. The legacy of stability is being weighed against the promise of radical change, and the reverberations of this election will be felt across the slopes for years to come.