Nelnet Announces Retirement of President Tim Tewes

Rhea-AI Summary

Nelnet (NYSE: NNI) announced that Tim Tewes, president of Nelnet and CEO of Nelnet Business Services, will retire in June 2026 after more than 25 years with the company. Tewes joined Nelnet in 2005 after the acquisition of FACTS Management, became CEO of NBS in 2007 and assumed the role of Nelnet president in 2014. The release notes Tewes led strategic acquisitions, expanded product offerings, and helped establish FACTS and Nelnet Campus Commerce as market leaders in education payment solutions. Nelnet also highlighted Tewes' role in launching Nelnet Bank. Tewes will continue to serve on the Nelnet Bank Board of Directors.

Positive

• Retirement timed for June 2026 allows planned transition
• Tewes brings 25+ years institutional experience
• Tewes will remain on the Nelnet Bank board, aiding continuity

Negative

• Departure of president and NBS CEO creates leadership gap in June 2026
• Potential short-term execution risk for NBS strategic initiatives after exit

LINCOLN, Neb., Jan. 15, 2026 /PRNewswire/ -- Nelnet (NYSE: NNI) today announced that Tim Tewes, president of Nelnet and chief executive officer (CEO) of Nelnet Business Services (NBS), will retire in June after more than 25 years of dedicated service.

Tewes joined Nelnet in 2005 following the acquisition of FACTS Management, where he served as Executive Vice President. He became CEO of NBS in 2007 and assumed the role of Nelnet President in 2014. Throughout his tenure, Tewes played a pivotal role in Nelnet's growth and diversification, leading strategic acquisitions, expanding product offerings, and championing exceptional customer experiences.

Under his leadership, FACTS and Nelnet Campus Commerce became market leaders in education payment solutions, and Nelnet successfully launched Nelnet Bank—a milestone shaping the company's future in consumer lending.

"Tim's thoughtful approach and unwavering integrity have left a lasting mark on Nelnet," said Mike Dunlap, executive chairman of Nelnet. "We are grateful for his leadership and wish him the very best in retirement."

Tewes will continue to serve on the Nelnet Bank Board of Directors.

FAQ

When will Nelnet president Tim Tewes retire and what is the effective month?

Tim Tewes will retire in June 2026.

What roles has Tim Tewes held at Nelnet (NYSE: NNI) and when did he assume them?

Tewes joined in 2005, became CEO of NBS in 2007, and became Nelnet president in 2014.

Will Tim Tewes continue with Nelnet after retirement from the president role?

Yes. He will continue to serve on the Nelnet Bank Board of Directors.

Did Nelnet announce a successor for the president or NBS CEO roles with Tim Tewes' retirement?

No successor was announced in the retirement notice.

How long did Tim Tewes work at Nelnet before announcing retirement?

He served for more than 25 years with the company, including roles since 2005.