There are some corporate changes at the top for Paychex. Marty Mucci, who has been president and CEO since 2010, will now take on the additional role of chairman of the board.
He succeeds the founder of the company, Tom Golisano, who will remain on the board as a director of the company.
Golisano, who started Paychex in 1971, was president and CEO until 2004, when he became chairman.
Paychex also announced the promotion of John Gibson Jr. to the role of president and chief operating officer, effective Dec. 1. Gibson joined Paychex as senior vice president of service in 2013.
Golisano said that Mucci “is a leader who has demonstrated his commitment to Paychex’s growth and success,” and said that with his executive team, company revenues have increased from $2 billion to more than $4 billion, and Paychex’s market capitalization has increased from $10 billion to more than $42 billion.
Golisano said that Mucci “is the right person to succeed me as Board Chair, and now is the right time.”
Talking about Gibson, Mucci said that he “has played a leadership role in creating a service organization that has kept Paychex a leader in our markets.”
