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AI brief of an SEC Form 8-K · Paychex (PAYX)

Paychex founder B. Thomas Golisano to step down from board after July 2025 meeting

Neutral Impact 2 of 5 leadership Written later

Paychex founder B. Thomas Golisano notified the board on May 15, 2025 that he will step down as a director, effective after the company's July 2025 board meeting. He cited no disagreement with the company's operations, policies or practices. The filing does not describe any change to Paychex's financial results or outlook.

Key points

  • Golisano, 83, founded Paychex in 1971 and served as President, CEO and Chairman before retiring as CEO in 2004
  • Notice given to the board on May 15, 2025; departure effective after the July 2025 board meeting
  • No disagreement on company operations, policies or practices was cited
  • Chairman Martin Mucci and CEO Gibson issued statements thanking Golisano

The filing

CompanyPaychex (PAYX)
Form8-K, current report
Filed with the SECMay 16, 2025, 4:28 PM ET
Accession number0000950103-25-006123

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 16, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.