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Paylocity (PCTY) has issued an announcement.
Paylocity Holding Corporation announced a significant leadership shakeup as Steven R. Beauchamp transitions from Co-CEO to Executive Chairman, with Toby Williams taking the reins as the sole CEO. This change, effective August 5, 2024, also sees company founder Steve Sarowitz stepping down as Chairman while continuing as a Board member. Beauchamp’s new role comes with a 40% salary reduction, emphasizing the company’s evolving management dynamics.
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