Paycom Promotes Bob Foster to Chief Financial Officer
Paycom Software (NYSE:PAYC) has announced the promotion of Bob Foster to Chief Financial Officer, effective February 21, 2025. Foster, who joined Paycom in 2022, will succeed Craig Boelte, who is retiring after nearly 20 years of leading the company's finance and accounting efforts.
Foster previously served as executive vice president of accounting and finance at Paycom. Before joining the company, he was CEO and chairman of a payroll company for eight years and a senior partner at Ernst & Young. In his new role as CFO, Foster will oversee all accounting and finance functions, focusing on long-term planning, investor relations, and financial strategies.
Boelte, who joined as CFO in 2006, led Paycom's transition from a small private company to an S&P 500 publicly traded company during his tenure, accumulating nearly 40 years of experience in accounting, human resources, and workforce management.
Paycom Software (NYSE:PAYC) ha annunciato la promozione di Bob Foster a Chief Financial Officer, con effetto dal 21 febbraio 2025. Foster, che è entrato in Paycom nel 2022, succederà a Craig Boelte, che si ritira dopo quasi 20 anni alla guida delle attività di finanza e contabilità dell'azienda.
Foster ha precedentemente ricoperto il ruolo di vicepresidente esecutivo di contabilità e finanza in Paycom. Prima di unirsi all'azienda, è stato CEO e presidente di una società di payroll per otto anni e partner senior presso Ernst & Young. Nel suo nuovo ruolo di CFO, Foster sovrintenderà a tutte le funzioni di contabilità e finanza, concentrandosi sulla pianificazione a lungo termine, le relazioni con gli investitori e le strategie finanziarie.
Boelte, che è entrato come CFO nel 2006, ha guidato la transizione di Paycom da una piccola azienda privata a una società quotata S&P 500 durante il suo mandato, accumulando quasi 40 anni di esperienza in contabilità, risorse umane e gestione della forza lavoro.
Paycom Software (NYSE:PAYC) ha anunciado la promoción de Bob Foster a Director Financiero, que entrará en vigor el 21 de febrero de 2025. Foster, quien se unió a Paycom en 2022, sucederá a Craig Boelte, quien se jubila después de casi 20 años liderando los esfuerzos de finanzas y contabilidad de la empresa.
Foster se desempeñó anteriormente como vicepresidente ejecutivo de contabilidad y finanzas en Paycom. Antes de unirse a la empresa, fue CEO y presidente de una empresa de nómina durante ocho años y socio senior en Ernst & Young. En su nuevo rol como CFO, Foster supervisará todas las funciones de contabilidad y finanzas, centrándose en la planificación a largo plazo, las relaciones con los inversores y las estrategias financieras.
Boelte, quien se unió como CFO en 2006, lideró la transición de Paycom de una pequeña empresa privada a una empresa pública cotizada en el S&P 500 durante su mandato, acumulando casi 40 años de experiencia en contabilidad, recursos humanos y gestión de la fuerza laboral.
Paycom Software (NYSE:PAYC)는 Bob Foster를 최고 재무 책임자로 승진시키고, 2025년 2월 21일부터 효력이 발생한다고 발표했습니다. 2022년에 Paycom에 합류한 Foster는 재무 및 회계 업무를 20년 가까이 이끌어 온 Craig Boelte를 이어받게 됩니다.
Foster는 Paycom에서 회계 및 재무의 부사장으로 근무했습니다. 회사에 합류하기 전에는 8년 동안 급여 회사의 CEO이자 회장이었으며, Ernst & Young의 고위 파트너로 활동했습니다. CFO로서의 새로운 역할에서 Foster는 모든 회계 및 재무 기능을 감독하며, 장기 계획, 투자자 관계 및 재무 전략에 집중할 것입니다.
2006년 CFO로 합류한 Boelte는 그의 재임 기간 동안 Paycom을 작은 개인 회사에서 S&P 500에 상장된 공개 회사로 전환하는 데 기여했으며, 회계, 인사 및 인력 관리 분야에서 거의 40년의 경험을 쌓았습니다.
Paycom Software (NYSE:PAYC) a annoncé la promotion de Bob Foster au poste de directeur financier, prenant effet le 21 février 2025. Foster, qui a rejoint Paycom en 2022, succédera à Craig Boelte, qui prend sa retraite après près de 20 ans à la tête des activités de finance et de comptabilité de l'entreprise.
Foster a précédemment occupé le poste de vice-président exécutif de la comptabilité et des finances chez Paycom. Avant de rejoindre l'entreprise, il a été PDG et président d'une société de paie pendant huit ans et partenaire senior chez Ernst & Young. Dans son nouveau rôle de CFO, Foster supervisera toutes les fonctions de comptabilité et de finance, en se concentrant sur la planification à long terme, les relations avec les investisseurs et les stratégies financières.
Boelte, qui a rejoint l'entreprise en tant que CFO en 2006, a dirigé la transition de Paycom d'une petite entreprise privée à une société cotée au S&P 500 pendant son mandat, accumulant près de 40 ans d'expérience en comptabilité, ressources humaines et gestion de la main-d'œuvre.
Paycom Software (NYSE:PAYC) hat die Beförderung von Bob Foster zum Chief Financial Officer bekannt gegeben, die am 21. Februar 2025 in Kraft tritt. Foster, der 2022 zu Paycom kam, wird Craig Boelte nachfolgen, der nach fast 20 Jahren in der Leitung der Finanz- und Rechnungswesen-Aktivitäten des Unternehmens in den Ruhestand geht.
Foster war zuvor als Executive Vice President für Rechnungswesen und Finanzen bei Paycom tätig. Bevor er zum Unternehmen kam, war er acht Jahre lang CEO und Vorsitzender eines Lohnabrechnungsunternehmens und Senior Partner bei Ernst & Young. In seiner neuen Rolle als CFO wird Foster alle Funktionen im Bereich Rechnungswesen und Finanzen überwachen und sich auf langfristige Planung, Investorenbeziehungen und Finanzstrategien konzentrieren.
Boelte, der 2006 als CFO einstieg, führte Paycom während seiner Amtszeit von einem kleinen Privatunternehmen zu einem börsennotierten Unternehmen im S&P 500 und sammelte dabei fast 40 Jahre Erfahrung in den Bereichen Rechnungswesen, Personalwesen und Arbeitskräfteverwaltung.
- Smooth leadership transition with experienced successor already within the company
- New CFO brings relevant industry experience as former payroll company CEO
- Incoming CFO has Big Four accounting experience as former Ernst & Young senior partner
- Loss of long-term CFO who guided company through critical growth phases
- Potential disruption in financial leadership during transition period
Insights
While C-suite transitions often create market uncertainty, this particular CFO change at Paycom demonstrates thoughtful succession planning. Bob Foster's appointment follows his strategic involvement in the company since 2022, providing important continuity in financial leadership. His dual expertise - leading a payroll company and managing major accounts at Ernst & Young - positions him uniquely to understand both the operational and financial aspects of Paycom's business model.
The timing of this transition appears strategic, occurring during a period of relative stability rather than during a critical financial reporting or strategic initiative phase. Foster's focus areas as outlined - long-term planning, investor relations, and financial strategies - suggest a balanced approach between maintaining Paycom's established financial discipline and pursuing growth opportunities.
The orderly transition from Craig Boelte, who shepherded Paycom from a private entity to an S&P 500 company, indicates strong corporate governance. Boelte's successful tenure, marked by the company's significant market cap growth and inclusion in the S&P 500, sets a high bar but also provides Foster with a solid foundation. The internal promotion after Foster's involvement in growth strategy execution suggests continuity in financial strategy while potentially bringing fresh perspectives to capital allocation and growth initiatives.
From a market perspective, Foster's background in process automation and payroll systems aligns well with Paycom's core business of cloud-based human capital management software. This domain expertise could prove valuable as the company navigates the evolving landscape of HR technology and workplace management solutions.
Craig Boelte retires
Paycom promotes Bob Foster to chief financial officer (Photo: Business Wire)
“I am pleased with what Bob has accomplished in his time at Paycom, including advancing our growth strategy. His expertise in accounting, payroll and process automation helps us continue to deliver for our clients and stockholders,” said Chad Richison, Paycom founder and CEO.
Foster joined the company in 2022 to lead Paycom’s growth strategy and later served as executive vice president of accounting and finance. As Paycom’s CFO, Foster will lead all accounting and finance functions, focusing on long-term planning, investor relations and overarching financial strategies.
“I have seen the financial stewardship at Paycom and am grateful for the opportunity to continue to set the financial management standard Paycom has been known for over the years,” Foster said. “I am proud of the work we have done to propel the HCM industry forward and the strong ROI we have provided for our clients. I am eager to see our success continue.”
Prior to joining Paycom, Foster served eight years as CEO and chairman of a payroll company, significantly growing its revenue and expanding its offices. Prior to that, he served as a senior partner at Ernst & Young, managing several of the firm’s largest accounts at the time.
Boelte joined Paycom as CFO in 2006. He leaves Paycom with nearly 40 years of experience in accounting, human resources and workforce management. Boelte successfully led Paycom’s transition from a small private company to an S&P 500 publicly traded company and has been instrumental in its financial success throughout the years.
“Being part of the growth over the past two decades has been the highlight of my career. I am incredibly grateful for the hard work and dedication of our employees and leadership team, who were instrumental in helping us achieve strong financial results during my tenure,” Boelte said.
To learn more about Paycom, visit www.paycom.com.
About Paycom
For over 25 years, Paycom Software, Inc. (NYSE: PAYC) has simplified business and employees’ lives through easy-to-use HR and payroll technology to empower transparency through direct access to their data. From onboarding and benefits enrollment to talent management and more, Paycom’s employee-first technology leverages full-solution automation to streamline processes, drive efficiencies and give employees power over their own HR information, all in a single app. Paycom’s single database combines all HR and payroll data in one place, providing a seamless and accurate experience without the errors and inefficiencies associated with integrating multiple systems. Recognized nationally for its technology and workplace culture, Paycom serves businesses of all sizes in the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250212524096/en/
Media Contact:
Larisha Hunter
media@paycom.com
Source: Paycom Software, Inc.
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