By Kimberly Chin
Automatic Data Processing Inc. said Chief Financial Officer Kathleen Winters intends to retire at the end of the month.
Ms. Winters has served in the CFO role since 2019. Prior to joining the human resources management software and service company, she was the CFO of MSCI Inc.
Don McGuire, ADP's president of employer services international, was named Ms. Winters' successor, effective Oct. 1, the company said. He has served in various senior roles at the company and in different regions around the globe, ADP said.
Mr. McGuire will receive around 823,515 Canadian dollars (around $650,000) as an annual base salary, according to a securities filing. He could also receive an annual target bonus of 150% of his annual base salary, which will be based on performance and how long he serves. He is also set to receive a $2.1 million one-time, restricted stock award on Oct. 1.
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(END) Dow Jones Newswires