Paychex, a provider of payroll and human resource services, has announced John Morphy’s retirement as senior vice president (SVP), chief financial officer (CFO), secretary, and treasurer. He will remain with the company through the end of 2011. Paychex has appointed Efrain Rivera as Morphy’s replacement in all his roles. A former corporate vice president and CFO for Bausch & Lomb, a global eye health company, Rivera begins his new role with Paychex on 1 June 2011.
During his 20 years with Bausch & Lomb, Rivera held several senior management positions, culminating with his role as corporate vice president and CFO. When he left the company in 2009, Bausch & Lomb had US$2.5bn in revenues and 11,000 employees. Through his tenure, his responsibilities ranged from managing the company’s commercial operations in Latin America and Canada, to leading finance for Bausch & Lomb’s global vision care division, to overseeing the firm’s treasury operations, including management of a US$600m investment portfolio.
In his role as CFO for Bausch & Lomb, Rivera transitioned the company to private ownership. After leaving Bausch & Lomb in 2009, he joined one of his alma maters, Houghton College, as vice president of finance and administration. Rivera earned his BSc degree from Houghton, a liberal arts and sciences college in New York.
He also holds a Doctor of Management degree from Weatherhead School of Management at Case Western Reserve University in Cleveland, Ohio. Additionally, he earned an MBA from the William E Simon Graduate School of Business at the University of Rochester in Rochester, New York, and a Juris Doctor degree from New York University in New York City.
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