Martin Mucci, Chief Executive Officer and Board Chairman of Paychex, is retiring from his role as CEO effective October 14, 2022, the company has announced. Mucci, who has served in the role since 2010, will remain as the Chairman of the company’s board of directors; he will be succeeded by the company’s Chief Operating Officer and President, John B. Gibson Jr. Founded in 1971, Paychex is a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services.
Mucci joined Paychex in 2002 as Senior Vice President of Operations, a role he held until ascending to the CEO position. Previously, he spent 20 years with Frontier Communications in Rochester, New York. Under his leadership, Paychex has expanded services to more than 730,000 small and mid-sized businesses, growing to over $4 billion in annual revenue and a market cap of nearly $50 billion. He also guided its shift into a technology-enabled company, combining software-as-a-service tech with bespoke service solutions.
Mucci’s successor, Gibson, joined Paychex as an SVP in 2013 before taking on the dual COO/President role in 2021; his ascension to the CEO position has been under planning and development for several years.