Paychex 2010 Annual Report Download - page 11

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Annual Report 2010 7
Leadership Change
On July 12, 2010, Paychex announced that
Jonathan J. Judge submitted his resignation as
president and chief executive officer, effective
July 31, 2010. We thank Jon for his contributions
in growing service revenues, strengthening
our management practices, overseeing
key technology advances, and leading our
successful entry into the health and benefits
business. Moving forward, we formed a strong
and experienced executive committee to lead
the company in the interim, with oversight from
Paychex Chairman B. Thomas Golisano and the
Board of Directors. The executive committee
is comprised of John Morphy, senior vice
president, chief financial officer, and secretary;
Martin Mucci, senior vice president of operations;
and Delbert Humenik, senior vice president of
sales and marketing. The company will be well
managed during the period of time we search for
a new president and chief executive officer.
What’s Ahead
Our decades of demonstrated expertise and
innovation in providing payroll and human
resource services, delivered with the highest
levels of customer service, will continue to
drive our growth. Change is part of business,
and Paychex is ready to respond because
with change comes opportunity. Whether it’s
developing products that best meet our clients’
needs or interpreting regulatory changes that
affect the way our customers do business,
Paychex has been an essential partner – and
we will continue to be an essential partner in the
years to come.
Together we will plan for a future that capitalizes
on the foundation for growth that we have built.
We thank our shareholders, Board of Directors,
clients, and employees for your support.
Sincerely,
B. Thomas Golisano
Chairman of the Board
John M. Morphy
Senior Vice President, Chief Financial Officer,
and Secretary
What’s Ahead