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Paychex founder Tom Golisano to exit company’s Board of Directors
Tom Golisano (File photo by Kimberly Mackenzie)
Tom Golisano (File photo by Kimberly Mackenzie)
Paychex founder Tom Golisano to exit company’s Board of Directors
Tom Golisano, founder of Paychex Inc., has decided to step down from his role as a member of the company’s Board of Directors after its July meeting.
Golisano, 83, established Paychex in 1971 with a vision to provide payroll support to small businesses.
The company went public in 1983, and he served as president, CEO and board chairman. Golisano retired as president and CEO in 2004 but continued to serve as chairman until 2021 when then-President and CEO Martin Mucci assumed the chairman position, a role he currently holds.
Since it was founded, Paychex has evolved into a technology-driven human resources and payroll services company now serving nearly 800,000 clients and generating annual revenues of over $5 billion with a market capitalization exceeding $50 billion.
“It’s been a great run of over 54 years,” Golisano said. “I’m very proud of the company and our performance over the last five decades including the continued growth in its service offerings, technology advancements and financial performance.”
Last fall, Golisano announced unprecedented philanthropic awards totaling nearly a half-billion dollars for more than 120 non-profit organizations in Rochester, Buffalo and Syracuse, as well as in communities across Southwest Florida. Throughout his lifetime, he has committed over $800 million in total charitable gifts.
“I want to thank Tom for his unwavering commitment to the growth and success of Paychex, and for the significant impact he has had on our clients, employees, shareholders and the community at large,” Mucci said. “Personally, I have had the privilege of working with Tom for over 20 years and have benefited from his dedication to the success of Paychex, his entrepreneurial spirit and his focus on our clients and shareholders.”
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