Paychex founder Tom Golisano is stepping down from the Rochester-based company’s board of directors effective this summer.
Golisano, 83, retired as president and CEO in 2004, but continued as board chairman until then-President and CEO Martin Mucci assumed the role in 2021.
“It’s been a great run of over 54 years,” Golisano said in a news release announcing he was stepping away from the business he started in 1971. “I’m very proud of the company and our performance over the last five decades including the continued growth in its service offerings, technology advancements, and financial performance.”
Golisano took Paychex public in 1983. The company today has nearly 19,000 employees and 800,000 clients, and generates annual revenues topping $5 billion, with a market capitalization exceeding $50 billion.
Last fall, Golisano announced he was personally donating $360 million to 82 nonprofits, most of them in the Rochester area — including WXXI Public Media.
The billionaire philanthropist was emotional at times, and spoke afterward about having just received a pacemaker after a health scare. There was no mention of health issues in the news release announcing his departure from the Paychex board. He later made a similar philanthropic announcement down in southwest Florida, where he now lives.
“I have had the privilege of working with Tom for over 20 years and have benefited from his dedication to the success of Paychex, his entrepreneurial spirit, and his focus on our clients and shareholders,” Mucci said in the announcement. “He has been a mentor and a friend, and I look forward to continuing this relationship.”
Outside of his business and philanthropy, Golisano also made his mark in state politics as a founding member of the Independence Party of New York. He ran for governor on the party's ticket several times, most recently in 2002.
