David Foss is set to become chief executive of Jack Henry & Associates in July.

Foss will remain president of the technology and payment processing services provider after the transition, the company announced Tuesday. Jack Prim, the company's current CEO and chairman, will then become its executive chairman.

Foss joined Jack Henry in 1999 after he arranged the sale of BancTec's financial solutions division to the company, becoming the president of its open systems group and general manager of the complementary solutions group. He was named general manager of its ProfitStars division in 2006 and president of the division in 2009, helping it grow to serve 10,000 clients. He became company president in 2014.

Prim joined the Monett, Mo., company in 1995 when it acquired Broadway & Seymour's community banking division. In addition to chairman and CEO, he has also served as president and chief operating officer. Since he has been at the helm Jack Henry's revenue has grown from roughly $400 million in 2003 to $1.26 billion in 2015.