Paychex CFO Efrain Rivera to retire after 12 years
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Paychex (NASDAQ:PAYX) said Tuesday that Efrain Rivera will retire as the company's finance chief starting Oct. 12, 2023, after 12 years of serving that role. He will remain as a senior advisor for the rest of the year. 
Robert L. Schrader, currently vice president of finance and investor relations, will be named senior vice president and CFO, effective Oct. 13, 2023.
Schrader has over 25 years' experience in corporate finance and public accounting. In addition to his current role at Paychex (PAYX), he has served as vice president and controller, senior director, Financial Planning and Analysis, and joined Paychex in December 2014 as director, Internal Audit.
During Rivera's time as CFO, Paychex's (PAYX) revenue has more than doubled, from $2B to more than $5B and its market cap has surged from $10B to nearly $45B, President and CEO John Gibson pointed out.

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