Paychex, a key player in human capital management, has announced that its founder, B. Thomas Golisano, will step down from the Board of Directors after the July 2025 meeting. At 83, Golisano reflects on over 54 years of building a company that caters to nearly 800,000 clients and boasts annual revenues exceeding $5 billion.
Key Points
- B. Thomas Golisano founded Paychex in 1971 to support small business payroll needs.
- He has held various leadership roles and stepped down as President and CEO in 2004, transitioning to Chairman until 2021.
- Paychex has grown to generate over $5 billion in revenue with a market cap surpassing $50 billion.
- Golisano has committed over $800 million to charitable causes, significantly impacting communities in New York and Florida.
- Current Chairman Martin Mucci expressed gratitude for Golisano’s long-standing commitment and influence on the company.
Why should I read this?
If you’ve got even a passing interest in business, philanthropy, or major corporate shifts, you won’t want to miss this! Golisano’s departure marks the end of an era for Paychex and highlights how leadership transitions can affect a company’s future direction. Plus, his generous philanthropic efforts demonstrate the impact one individual can have on communities. Read on to get the full scoop!
