S1 Corp. Fires CEO

July 27, 2005, 1:00 a.m. EDT 1 Min Read

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ATLANTA - (07/27/05) -- Online banking software vendor S1Corp. said it terminated its CEO. Jaime Ellertson, and brought backcompany co-founder and chairman James Chip Mahan as chief executiveofficer to head the firm amid flat sales growth. Revenue for S1,the parent of Edify, slumped 3% last year to $241 million, thoughrevenue climbed 11% in the first quarter to $62.4 million. Still,net income was only $720,000, or a penny a share, for the firstquarter. Second quarter results will be disclosed next week. Mahanserved as CEO of the company between 1995 and 2000.

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