ATLANTA Processing giant First Data Corp. said its CEO Jon Judge plans to retire from the company for undisclosed health reasons.
“While my plans didn’t anticipate such an early retirement, those plans needed to be changed for the benefit of my health,” said Judge. “The directors have been very understanding and very gracious in their accommodation.”
Judge has served as head of First Data since late 2010. His departure date has not been announced, but the company said it expects Judge to leave the post no later than March 31.
Judge has entered into a transitional retention agreement with First Data in which he will continue to receive compensation for 24 months, including twice his base pay and certain bonuses totaling $7.5 million, plus health benefits, according to filings with the Securities and Exchange Commission.