- Push-out Score determined
- After about 12 years in the position
- Accolades, praise and thanks for Mucci
- John Gibson taking over
- Mucci will remain as chairman at Paychex
- Mucci said 104 words
(exechange) — Rochester, New York, August 24, 2022 — Marty Mucci, chief executive of Paychex, leaves his position. As announced by Paychex Inc. in a news release and in a regulatory filing published on Wednesday, August 24, 2022, Martin (Marty) Mucci leaves his post as chief executive officer at the provider of human resource, payroll, and benefits outsourcing services, after about 12 years in the role, effective October 14, 2022.
Marty Mucci’s duties as CEO will be taken over by John B. Gibson, currently president and chief operating officer at Paychex Inc.
“Culmination of a multi-year development and succession planning process”
Marty Mucci’s departure from the CEO post is explained as follows. Paychex said: “Gibson’s selection as company CEO is the culmination of a multi-year development and succession planning process.”
Mucci will remain as chairman at Paychex
“Mucci will remain chairman of the company’s board of directors,” Paychex said.
“Retire”
Paychex said: “Martin Mucci, chief executive officer and chairman of the board, will retire as CEO, effective October 14th, 2022.”
Paychex further said: “On August 23, 2022, Martin Mucci, the Chairman and Chief Executive Officer of Paychex, Inc. (the “Company”), notified the Board of Directors of the Company (the “Board”) of his intention to retire as the Company’s Chief Executive Officer effective as of October 14, 2022.”
Share price increase since August 2017
The announcement follows an increase in Paychex Inc.’s share price of 138% since August 2017.
In the position of CEO since 2010
Marty Mucci became CEO of the Company in 2010.
Mucci has served as President and CEO of the Company since September 2010.
Mucci joined the Company in 2002 as Senior Vice President (“SVP”), Operations.
Prior to joining Paychex, he held senior level positions with Frontier Communications, a telecommunications company, including President of Telephone Operations and CEO of Frontier Telephone of Rochester, over the course of his 20-year career.
Mucci serves on the board of NCR Corporation, a leading software- and services-led enterprise provider in the financial, retail, and hospitality industries.
Mucci was a member of the Board of Directors of Cbeyond, Inc. until it was purchased by Birch Communications in July 2014.
He is a Trustee Emeritus of St. John Fisher College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Marty Mucci’s move on a scale of 0 to 10.
exechange reached out to Paychex and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 35.2022 ($).