- After almost 16 years in the position
- Praise and thanks for Goldfield
- Mike Simonds taking over
- Goldfield spoke at length and said 133 words
(exechange) — Dublin, California, February 15, 2024 — Burton Goldfield, chief executive of TriNet, leaves his position. As announced by TriNet Group Inc. in a news release and in a regulatory filing published on Thursday, February 15, 2024, Burton M. Goldfield leaves his post as chief executive officer at the provider of human resources software for small and medium-size businesses, after almost 16 years in the role, effective February 16, 2024.
It is the end of an era.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
Burton Goldfield’s duties as CEO will be taken over by Michael Q. (Mike) Simonds, most recently Chief Operating Officer at Unum Group.
The fact that Burton Goldfield’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Perfect time for me to retire”
The management change is explained as follows. Burton M. Goldfield stated: “After having the privilege of serving as TriNet’s President and CEO for more than 15 years, now is a perfect time for me to retire.”
Precise information regarding Burton Goldfield’s future plans was not immediately available.
“Retiring”
TriNet said: “TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced that its President, Chief Executive Officer and Board Member, Burton M. Goldfield is retiring from the company and Mike Simonds has been appointed his successor as President and CEO, and will also join the TriNet Board of Directors effective February 16, 2024.”
TriNet further said: “Mr. Burton M. Goldfield will retire from his current position as Chief Executive Officer and President of the Company, effective as of immediately prior to the Effective Date [February 16, 2024], after more than 15 years in this position.”
“Did not result from any disagreement”
TriNet stated, regarding the change: “Mr. Goldfield’s decision to resign did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”
Share price increase since February 2019
The announcement follows an increase in TriNet Group Inc.’s share price of 141% since February 2019.
In the position of CEO since 2008
Burton Goldfield became CEO of the Company in 2008.
While retiring as President and CEO, Goldfield will continue as a special advisor to the company through March 31, 2025.
Burton M. Goldfield joined TriNet as Chief Executive Officer and a member of the Company’s Board in May 2008.
Prior to joining TriNet, Goldfield was Chief Executive Officer at Ketera Technologies, a SaaS provider to Fortune 2000 companies.
Before that, Goldfield served as Senior Vice President, Worldwide Field Operations at Hyperion Solutions Corporation, a software company, and Vice President of Worldwide Sales for IBM Corporation’s multinational information technology company, Rational Software division.
Goldfield currently serves on the board of directors of EvoNexus, Inc. and FinancialForce.
Goldfield also previously served on the board of directors of DHI Group, Inc. from December 2014 to May 2019.
Goldfield holds a B.S. in Biomedical Engineering from Syracuse University and an M.B.A. from Villanova University.
133 words by Burton Goldfield
In the release announcing his departure as CEO of TriNet Group Inc., Burton Goldfield received praise and thanks.
In announcing his departure, Burton Goldfield spoke at length and said 133 words.
“Capitalize on the unique opportunity in front of us”
Burton Goldfield stated: “After having the privilege of serving as TriNet’s President and CEO for more than 15 years, now is a perfect time for me to retire. It has always been my goal to build TriNet into an amazing and enduring company which we have achieved. It has been an honor to lead such a remarkable team and experience the growth and success we accomplished together, including our 10-year trajectory as a public company – and the prospects for 2024 and the future are very bright. The Board and I have every confidence in Mike to continue the momentum and capitalize on the unique opportunity in front of us. I want to thank my incredible colleagues, our outstanding board of directors, and our inspiring customers for their dedication and support throughout this magnificent and unforgettable journey.”
Push-out Score for Burton Goldfield’s move determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Burton Goldfield’s move on a scale of 0 to 10.
Read the full story in the exechange report 8.2024 ($).