Leslie M. Muma, vice chairman, president, and chief operating officer of Fiserv Inc., has been appointed chief executive officer by the board of directors.

George D. Dalton, 71, relinquished his CEO title Thursday during Fiserv's annual shareholder meeting. He will continue as chairman.

"While I will continue to be actively involved in our acquisition strategy, I expect to have more time to focus on enjoying my family and my creative interests," Mr. Dalton said in a press release.

Mr. Muma, 53, and Mr. Dalton have been friends for 25 years, and they formed Brookfield, Wis.-based Fiserv in 1984.

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