Paychex, Inc., a leading provider of payroll and human resource services,<br />today announced the retirement of John M. Morphy as senior vice president,<br />chief financial officer, secretary, and treasurer. He will remain with the<br />company through the end of 2011. Paychex also announced the appointment of<br />Efrain Rivera as its new senior vice president, chief financial officer, and<br />treasurer. A former corporate vice president and chief financial officer for<br />Bausch & Lomb, Rivera begins his new role with Paychex on June 1, 2011.<br /><br />Retiring Paychex senior vice president, CFO, secretary, and treasurer John<br />Morphy. (Photo: Business ...<br /><br />Retiring Paychex senior vice president, CFO, secretary, and treasurer John<br />Morphy. (Photo: Business Wire)<br /><br />“During his 15 years as chief financial officer of Paychex, John has been a<br />key contributor to the company’s success. His leadership and high standards of<br />ethics and integrity have been important assets in building Paychex’s<br />credibility in the investment community,” said Paychex president and chief<br />executive officer Martin Mucci. “I thank John for his many contributions in<br />this area and wish him well in his upcoming retirement.”<br /><br />Mucci also expressed his appreciation for Morphy’s commitment to helping<br />ensure a smooth transition for his successor.<br /><br />“As an experienced senior financial executive, Efrain brings to Paychex a<br />strong skill set and deep educational background that will make him a valuable<br />member of our management leadership team,” Mucci said. “He has demonstrated<br />strategic capabilities that will help us focus on further growth for the<br />company. I welcome Efrain to Paychex and look forward to his leadership.”<br /><br />Efrain Rivera<br /><br />During his 20 years with Bausch & Lomb, a global eye health company, Rivera<br />held several senior management positions, culminating with his role as<br />corporate vice president and chief financial officer. When he left the company<br />in 2009, Bausch & Lomb had $2.5 billion in revenues and 11,000 employees.<br />Through his tenure, his responsibilities ranged from managing the company’s<br />commercial operations in Latin America and Canada, to leading finance for<br />Bausch and Lomb’s global vision care division, to overseeing the firm’s<br />treasury operations, including management of a $600 million investment<br />portfolio.<br /><br />In his role as CFO for Bausch & Lomb, Rivera transitioned the company to<br />private ownership. After leaving Bausch & Lomb in 2009, he joined one of his<br />alma maters, Houghton College, as vice president of finance and<br />administration. Rivera earned his Bachelor of Science degree from Houghton, a<br />liberal arts and sciences college in Western New York.<br /><br />Rivera, a native of Paterson, New Jersey, also holds a Doctor of Management<br />degree from Weatherhead School of Management at Case Western Reserve<br />University in Cleveland, Ohio. Additionally, he earned his Master of Business<br />Administration from the William E. Simon Graduate School of Business at the<br />University of Rochester in Rochester, New York, and a Juris Doctor degree from<br />New York University in New York City.<br /><br />John Morphy<br /><br />Morphy joined Paychex in October 1995 and was elected the company’s vice<br />president, chief financial officer, secretary, and treasurer in 1996. He was<br />named senior vice president in 2002.<br /><br />Prior to joining Paychex, Morphy was vice president of finance for Goulds<br />Pumps, the world’s largest pump manufacturer and a brand of ITT. Previously,<br />he was vice president and controller for Computer Consoles, Inc., an equipment<br />manufacturer for the telecommunications and office automation markets. Morphy<br />began his career at accounting firm Arthur Andersen & Company. A native of<br />Rochester, New York, Morphy holds a Bachelor of Science degree in accounting<br />from LeMoyne College in Syracuse, New York.