NU Online News Service, Oct. 9, 2003, 5:30 p.m. EST – The BISYS Group Inc., New York, says Dennis Sheehan, its president and chief executive officer, will be stepping down for medical reasons.
BISYS sells support services to financial services companies and also markets financial services training programs.
Sheehan has an accident-related medical condition that is not life threatening but will prevent him from continuing to serve as chief executive of BISYS, Sheehan says in a statement.
“I am disappointed that I need to step down prematurely,” Sheehan says. “I want to emphasize that my decision is completely unrelated to the recent earnings disappointments and I remain confident in our recently set financial guidance, and in the long-term prospects for the company.”