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Bisys Names Sheehan As CEO

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NU Online News Service, Oct. 30, 3:00 p.m. – The BISYS Group, Inc., New York, has announced that Dennis R. Sheehan, 47, its current president and chief operating officer, will become the company’s chief executive officer effective Jan. 1.

Bisys provides life insurance distribution and support services to insurance carriers, banks and other financial institutions.

For the remainder of 2002, Lynn J. Mangum, 60, will continue in his current role as BISYS’ chairman and CEO. Beginning Jan. 1 and continuing for at least 18 months, Mangum will be chairman of the BISYS board of directors and will be directly engaged in acquisitions as well as European marketplace business development, the company says in its announcement.

“This change in executive responsibilities supports an orderly transition of leadership and is part of BISYS’ succession planning strategy,” the company says.