Brookfield-based Fiserv Inc. announced today it has hired Robert Hau as its new chief financial officer, beginning March 14.
The financial services technology developer hired Hau to replace Tom Hirsch, whom the company previously announced is retiring after 21 years at the company. Hirsch served as CFO beginning in 2006 and will continue with the company through the end of the year in a consultant role.
Hau, 50, has almost 30 years of experience in business and financial leadership, most recently as CFO of Swiss company TE Connectivity Ltd., which manufactures connectivity and sensor solutions. Prior to that role, Hau was executive vice president and CFO at Lennox International Inc., and was at Honeywell International Inc. for 22 years.
At Fiserv, Hau will be paid a base annual salary of $625,000 and a $500,000 signing bonus. Hau will be eligible for an annual cash incentive bonus of up to $1.4 million, and a target annual equity incentive of $2 million. He will also be entitled to restricted stock and stock options totaling $5.5 million, to vest in three to four years. Hau, who is based in Berwyn, Pa., must relocate to the Milwaukee area within a year of his start date, and Fiserv will cover the moving expenses.
He holds an MBA from the University of Southern California’s Marshall School of Business and a bachelor’s in business administration from Marquette University.
“Bob’s proven track record as a public company CFO along with his strong operational approach to finance will complement our management team very well,” said Jeffery Yabuki, president and chief executive officer of Fiserv. “We are excited to welcome him to Fiserv.
“We are grateful to Tom (Hirsch) for his leadership and contributions to our clients, associates and shareholders. We wish him and his family success in the next chapter of their lives.”
