Paychex CEO to Retire, remains chairman
ROCHESTER, N.Y. (WHEC) — Paychex, Inc. announced Wednesday that Martin Mucci, its chief executive officer and chairman of the board will retire as CEO.
Mucci joined Paychex as senior vice president of operations in 2002, and has served as Paychex CEO since 2010, and was named chairman of the board in 2021. He will remain chairman of the company’s board of directors.
“On behalf of the board of directors, the management team, and nearly 16,000 Paychex employees, we want to thank Marty for his tremendous leadership over the past twenty years,” said Paychex founder and director B. Thomas Golisano. “Under Marty’s guidance, Paychex has significantly expanded on its foundation as a payroll services company to become a leading provider of integrated human capital management software solutions. In his time as CEO, Paychex revenue has more than doubled, from $2 billion to over $4.6 billion and our market capitalization has increased from $10 billion to nearly $50 billion. The board is sincerely grateful to Marty for his many contributions as CEO and we look forward to his continued stewardship as chairman.”
John B. Gibson, Jr., the company’s current president and chief operating officer will assume the role of president and CEO.
Gibson joined Paychex in 2013 as senior vice president of service, leading the operations of all Paychex business divisions including human resource services, payroll, retirement, and insurance services. In 2021, Gibson was promoted to president and COO, overseeing the daily operations of the company including sales, marketing, product management, and service. Gibson’s selection as company CEO is the culmination of a multi-year development and succession planning process.
“I want to extend my sincere thanks to Marty and our board of directors for this opportunity. Because of the passion and commitment of our leadership team and employees, the Paychex of today is a technology and digitally enabled HR industry leader, well-positioned for the future. Our mission will continue to be to lead our industry by remaining true to Paychex’s core purpose: to help businesses succeed. I’m focused on doing this by expanding the important role technology plays in our business, leading our industry in customer experience, leveraging the vast amount of data available to Paychex to bring insights to our customers and the world on what matters most to businesses and entrepreneurs’ success, and by continuing to elevate our role as an essential partner for every business we serve. I’m confident in the future of Paychex and look forward to the opportunity ahead,” said Gibson.
Mucci will retire as CEO, effective Oct. 14, 2022.