ADP - Automatic Data Processing Inc.
11/08/2024 | Press release | Distributed by Public on 11/08/2024 07:59
Management Change/Compensation Form 8 K
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Automatic Data Processing, Inc. (the "Company") announced that John C. Ayala, Chief Operating Officer, will be stepping down from his role at the Company, effective as of January 1, 2025, and will continue to serve as a corporate officer of the Company during a transition period through March 31, 2025.
The Company also announced that Joseph DeSilva, presently President, Global Sales, will become Executive Vice President, North America and Chief of Operations, effective as of January 1, 2025. In connection with this new role, Mr. DeSilva's base salary will increase by 6.2% and his annual target bonus as a percentage of base salary will increase from 100% to 150%.