Banking software company Temenos announced that CEO Jean-Pierre Brulard has stepped down with immediate effect.

The board named Chief Financial Officer Takis Spiliopoulos as interim CEO while it searches for a permanent successor and has engaged an executive search firm.

Board chair Thibault de Tersant thanked Brulard for his leadership saying,

“Jean-Pierre has positioned the company for long-term success, simplifying our global product and technology organisation, aligning our product portfolio with our strategic priorities and increasing our US presence.

While we will be moving to new leadership to execute the next phase of the strategic plan, and have started the corresponding search, the board has full confidence in Takis’ ability to lead the company during this transition period.”

Spiliopoulos will oversee both the chief executive and financial functions during the transition.

Brulard said,

“I am proud of everything achieved since I joined, much was accomplished during the 16 months of my tenure.

I would like to thank everyone at Temenos, its customers and partners for their confidence. I wish all the best to the company.”

Temenos reconfirmed its guidance for FY-25, which it raised at its Q2-25 results in July, and reaffirmed its FY-28 targets.

The leadership change comes after a challenging period for the company. In early 2024, activist short-selling firm Hindenburg Research alleged accounting and product issues at Temenos.

The company strongly rejected the claims and commissioned an independent review, which later concluded that the allegations were without merit.

While the episode temporarily slowed sales, Temenos maintained its full-year outlook.

Shares in Temenos fell about 16 percent on September 5 to CHF 59.45, down from above CHF 70 earlier in the week.

Featured image: Edited by Fintech News Singapore, based on image by legion via Freepik