BROOKFIELD, Wis. — Fiserv Inc.’s board of directors elected Donald F. Dillon chairman of the board Monday, effective immediately.

Leslie M. Muma, president and chief executive officer of Fiserv, had been acting chairman since March, when George Dalton stepped down. Mr. Dalton and Mr. Muma co-founded Fiserv in 1984.

Mr. Muma will remain president and CEO. Mr. Dalton remains a member of the board.

Mr. Dillon, 59, came to Fiserv in 1995 when it bought Information Technology Inc., a core bank data processor that he had founded. Since then he has been vice chairman and a director at Fiserv, and a member of its executive and management committees. He is also Fiserv’s largest shareholder.

Mr. Dillon, who last year became chairman of Fiserv’s corporate technology committee, has been closely involved in technology issues.

The ITI software, which has client/server-like functionality, is used by 2,000 financial institutions, company officials said.

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