CBIZ Announces Passing of Chairman and Former CEO Steven L. Gerard

Rhea-AI Summary

CBIZ, Inc. announced the passing of Chairman and former CEO Steven L. Gerard at the age of 76, following a brief illness. Gerard, who joined in 2000, played a pivotal role in the company's growth, with revenue increasing from $546 million to $750 million during his tenure. Under his leadership, CBIZ's stock value surged nearly tenfold, outperforming major indices. He retired as CEO in 2016 but continued as Chairman. Gerard was known for his commitment to company culture and employee development, leaving behind a legacy that includes the Steven L. Gerard Legacy Award.

Positive

• Revenue growth of 37% during Gerard's tenure, from $546 million to $750 million.
• Stock value increased nearly tenfold, significantly outperforming major indices.
• CBIZ ranked #1 by Forbes as America's Best Employer in consulting and accounting.

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• None.

CLEVELAND--(BUSINESS WIRE)-- CBIZ, Inc., (NYSE: CBZ) is saddened to share news of the passing today of Steven L. Gerard, the company’s Chairman and former Chief Executive Officer, following a brief illness. Mr. Gerard was 76 years old.

“On behalf of our Board of Directors and the entire CBIZ family, I extend our deepest condolences to Steve’s wife, Jane, and the entire Gerard family,” said Jerry Grisko, CBIZ President and Chief Executive Officer. “Steve was a tremendous leader who was beloved across the CBIZ organization and well respected by shareholders and business and community leaders alike. Joining the company at a critical juncture, Steve’s vision and tireless dedication to our mission set us on the course to achieve solid growth and helped position CBIZ as one of the most successful professional services companies in the country.”

Gerard joined the company in 2000 as Chief Executive Officer and was appointed Chairman of the Board in 2002. He arrived at a time of rapid growth through acquisition and architected a vision and path to secure the company’s future and increase shareholder value.

Under Gerard’s leadership, CBIZ grew revenue by 37 percent, from $546 million to $750 million. The value of CBIZ stock increased nearly tenfold and significantly outperformed major indices during his tenure. Additionally, Gerard was deeply committed to building a culture based on shared core values. He was a passionate champion for the professional growth of our team members and established numerous innovative development programs and initiatives, such as the CBIZ Women’s Advantage program. At the time of Gerard’s retirement, CBIZ was ranked #1 by Forbes as America’s Best Employer in the consulting and accounting industry.

After retiring as CEO in 2016, Gerard continued to serve CBIZ as Chairman of the Board.

“Steve always focused on our people first, and his leadership and influence is especially evident in our culture and core values,” said Grisko. “His legacy lives on through the Steven L. Gerard Legacy Award presented annually to a CBIZ team member who most embodies our core values. Steve will be remembered as an exceptional human being who inspired those around him. We will remain forever grateful for his leadership and friendship. He will be greatly missed.”

About CBIZ

CBIZ is a leading provider of financial, insurance and advisory services to businesses throughout the United States. Financial services include accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 100 offices in 31 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S. For more information, visit www.cbiz.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220412006157/en/

Elizabeth Newman

Chief of Staff

-or-

Lori Novickis

Director, Corporate Relations

CBIZ, Inc.

Cleveland, Ohio

(216) 447-9000

Source: CBIZ, Inc.

FAQ

What were the significant achievements of Steven L. Gerard at CBIZ?

Steven L. Gerard led CBIZ to a 37% revenue growth, increasing it from $546 million to $750 million, and drove stock value up nearly tenfold.

How did CBIZ perform under Steven L. Gerard's leadership?

Under Gerard's leadership, CBIZ significantly outperformed major indices and was ranked #1 by Forbes as America's Best Employer in the consulting and accounting industry.

Who is the new CEO of CBIZ following Steven L. Gerard's passing?

Jerry Grisko is the current President and CEO of CBIZ succeeding Steven L. Gerard.

What is the Steven L. Gerard Legacy Award?

The Steven L. Gerard Legacy Award is presented annually to a CBIZ team member who embodies the company's core values, honoring Gerard's commitment to company culture.