Paychex Founder B. Thomas Golisano to Step Down from Board of Directors

Strategic Insights -

After a storied tenure of over 54 years, B. Thomas Golisano, the founder of Paychex, is stepping down from his role as a member of the Paychex Board of Directors. Golisano, 83, established Paychex in 1971 with a vision to provide payroll support to small businesses. Under his leadership, the company went public in 1983 and has since evolved into a technology-driven human resources and payroll services company, serving nearly 800,000 clients and generating annual revenues of over $5 billion with a market capitalization exceeding $50 billion.

Key Takeaways:

  • B. Thomas Golisano, the founder of Paychex, is stepping down from his role as a member of the Paychex Board of Directors, effective after the Board's July 2025 meeting.
  • Golisano, 83, established Paychex in 1971 with a vision to provide payroll support to small businesses and has led the company to become a technology-driven human resources and payroll services company.
  • Paychex now serves nearly 800,000 clients, generates annual revenues of over $5 billion, and has a market capitalization exceeding $50 billion.
  • Golisano has committed over $800 million in total charitable gifts throughout his lifetime, with a significant portion being announced last fall in the form of a half-billion dollars for over 120 non-profit organizations.
  • Martin Mucci, Chairman of the Board, praised Golisano's commitment to the growth and success of Paychex, citing his entrepreneurial spirit, focus on clients and shareholders, and dedication to the company.
  • Paychex has over 19,000 employees, who are thanking Golisano for setting the vision and values that have made their accomplishments and successes possible.

Statistics:

  • Exceeds 54 years of leadership under B. Thomas Golisano
  • 800,000 clients served by Paychex
  • Over $5 billion in annual revenues
  • Market capitalization exceeding $50 billion
  • Over $800 million in total charitable gifts
  • Over 20 years of working relationship between Martin Mucci and B. Thomas Golisano
  • Over 19,000 employees working at Paychex

Sources:

  • Press release from Paychex, Inc. issued [no date specified]
  • Quote by Martin Mucci, Chairman of the Board