Dive Brief:
- Automatic Data Processing announced Wednesday that its treasurer, Peter Hadley, will take its finance reins on July 1, succeeding the payroll processor and technology company’s current CFO, Don McGuire, who is stepping down after over three years in the role.
- Hadley, 52, joined the company in 2002 from Big Four firm KPMG and over the years has served in multiple positions, most recently as the company’s treasurer, as well as in such roles as CFO for ADP’s Global Enterprise Solutions and Employer Services International.
- McGuire, who has been CFO since October of 2021, joined the company in 1998 as vice president, finance, ADP Canada. He succeeded finance chief Kathleen Winters after she notified the company she was retiring, according to a securities filing.
Dive Insight:
The leadership change was announced on the same day that the Roseland, New Jersey-based company reported its Q3 2025 fiscal earnings, with the company reporting that its net earnings for the three-months ended March 31 rose to $1.24 billion from $1.18 billion in the year earlier period.
The end of a quarter is a common time for companies to make changes to their C-suite in part because it can be used to cleanly delineate the start of a new reporting period and signal continuity, CFO Dive previously reported.
During the Wednesday earnings call, ADP CEO Maria Black sought to emphasize the smooth transition, referencing the company’s “orderly succession planning” as she welcomed the new CFO and thanked McGuire for his work. She also called out the international strengths of both executives, noting that Hadley was a “global citizen,” having held roles in both finance and operations for ADP in Europe, Asia and the U.S., and that McGuire had “profoundly” shaped its international business. She also expressed gratitude for his work.
“As I transitioned into my role as ADP's CEO, I'm honored to call him a colleague, and more importantly, a friend. Don, thank you from the bottom of my heart for your countless contributions to ADP,” Black said according to a transcript of the call.
Hadley’s compensation will include an annual base salary of $650,000, an annual target bonus of 150% of annual base salary and participation in the long-term incentive compensation program comprised of performance-based stock units and restricted stock unites with an expected annual total equity award value of $4.887 million for fiscal 2026, according to the securities filing.
