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Paychex names new chief financial officer
Morphy will be replaced by Efrain
Rivera, a former chief financial officer for Bausch & Lomb, which
makes products for eye health. Rivera begins his new job on June 1.
Morphy, 63, will be the company's vice president of finance until he
retires at the end of the year.
Rivera, 54, worked for Bausch
& Lomb for 20 years. He held several management positions, and was
corporate vice president and chief financial officer when he left in
2009. He then worked as vice president of finance and administration at
Houghton College in Houghton, N.Y.
Morphy joined Paychex in 1995
and was named vice president, chief financial officer, secretary, and
treasurer in the next year. He was named senior vice president in 2002.
Paychex shares fell 28 cents to $32.70 in afternoon trading.
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