You might also like
Automatic Data Processing, Inc. (ADP) is a leading global provider of cloud-based Human Capital Management (HCM) technology solutions, offering both software and outsourcing services to help clients manage their workforce in a dynamic business and regulatory environment . ADP's business is structured around three core pillars: U.S. HCM Solutions, U.S. HR Outsourcing (HRO) Solutions, and Global Solutions . The company sells a range of services that include managing the entire employment cycle, payroll administration, employee benefits management, and international HCM and HRO services .
- Human Capital Management (HCM) - Provides cloud-based software and services to assist employers in managing the entire employment cycle.
- HR Outsourcing (HRO) - Offers comprehensive outsourcing services, including payroll administration and employee benefits management.
- PEO Zero-Margin Benefits Pass-Throughs - Manages benefits pass-throughs without adding margin.
- Global Solutions - Delivers international HCM and HRO services, including both local and multi-country solutions.
- Client Fund Interest Revenues - Generates revenue from interest on funds held for clients.
| Name | Position | External Roles | Short Bio | Start Date |
|---|---|---|---|---|
Maria Black ExecutiveBoard | President and CEO | Director at Delta Air Lines, Inc. | Maria Black joined ADP in 1996 and became CEO in January 2023. She has held numerous leadership roles, including President of ADP and President of Worldwide Sales and Marketing. She focuses on innovation and growth. | 1996 |
Chris D'Ambrosio Executive | Chief Strategy Officer | None | Chris D'Ambrosio joined ADP in 2014 and has held various leadership roles, including SVP and General Manager of Insurance Services and Small Business Services. | 2014 |
Don McGuire Executive | Chief Financial Officer (CFO) | None | Don McGuire joined ADP in 1998 and became CFO in October 2021. He previously served as President of Employer Services International and held other leadership roles in global operations. | 1998 |
Joe DeSilva Executive | EVP, North America and Chief of Operations | None | Joe DeSilva joined ADP in 2003 and became EVP, North America and Chief of Operations in January 2025. He previously served as President of Global Sales and other leadership roles. | 2003 |
Jonathan Lehberger Executive | Corporate Controller and Principal Accounting Officer | None | Jonathan Lehberger joined ADP in 2004 and became Corporate Controller and Principal Accounting Officer in July 2024. He previously served as SVP, Financial Strategy and Planning. | 2004 |
Michael A. Bonarti Executive | Chief Administrative Officer | None | Michael A. Bonarti joined ADP in 1997 and became Chief Administrative Officer in July 2021. He previously served as General Counsel and Secretary. | 1997 |
Sreeni Kutam Executive | President, Global Product and Innovation | None | Sreeni Kutam joined ADP in 2014 and became President, Global Product and Innovation in January 2023. He previously served as Chief Human Resources Officer. | 2014 |
Carlos A. Rodriguez Board | Non-Employee Director | Director at Microsoft Corporation | Carlos A. Rodriguez served as ADP's CEO from 2011 to 2022 and transitioned to Executive Chair in 2023. He is now a non-employee director as of January 2024. | 1999 |
David V. Goeckeler Board | Director | CEO of Western Digital Corporation | David V. Goeckeler has been a director at ADP since 2022. He is the CEO of Western Digital and has expertise in cloud computing and cybersecurity. | 2022 |
Francine S. Katsoudas Board | Director | EVP and Chief People, Policy & Purpose Officer at Cisco Systems | Francine S. Katsoudas has been a director at ADP since 2019. She is an executive at Cisco Systems and has expertise in people strategy and corporate policy. | 2019 |
John P. Jones Board | Director | None | John P. Jones has been a director at ADP since 2005. He is the former Chairman and CEO of Air Products and Chemicals, Inc.. | 2005 |
Linnie M. Haynesworth Board | Director | Director at Eastman Chemical, Micron, and Truist Financial | Linnie M. Haynesworth has been a director at ADP since 2020. She has expertise in cybersecurity and technology integration. | 2020 |
Nazzic S. Keene Board | Director | Director at ITT Inc. | Nazzic S. Keene has been a director at ADP since 2020. She is the former CEO of SAIC and has expertise in technology and cybersecurity. | 2020 |
Peter Bisson Board | Director | Director at Gartner Inc. | Peter Bisson has been a director at ADP since 2015. He is the Chair of the Corporate Development and Technology Advisory Committee and has expertise in strategy and technology. | 2015 |
Sandra S. Wijnberg Board | Director | Director at Cognizant, T. Rowe Price, and Hippo Holdings | Sandra S. Wijnberg has been a director at ADP since 2016. She is the Chair of the Audit Committee and has extensive financial expertise. | 2016 |
Scott F. Powers Board | Director | Board Chair of Sun Life Financial, Director at PulteGroup | Scott F. Powers has been a director at ADP since 2018. He is the Chair of the Compensation and Management Development Committee and has expertise in investment management. | 2018 |
Thomas J. Lynch Board | Independent Non-Executive Chair | Director at Cummins Inc. | Thomas J. Lynch has been a director at ADP since 2018 and became Independent Non-Executive Chair in January 2024. He is the former CEO of TE Connectivity Ltd.. | 2018 |
William J. Ready Board | Director | CEO of Pinterest, Director at Williams-Sonoma | William J. Ready has been a director at ADP since 2016. He is the CEO of Pinterest and has expertise in technology and digital transformation. | 2016 |
-
With the sizeable acquisition of WorkForce Software, how do you plan to integrate their offerings without complicating your existing platform ecosystem, and are there risks that this could potentially confuse your go-to-market strategy, especially since you have spent the last decade reducing platform complexity?
-
Given that new business formations are down year-on-year and fiscal year-to-date, how do you plan to sustain growth in the small business segment, and what strategies do you have in place to mitigate the potential slowdown in small business demand?
-
You mentioned that PEO pays per control growth is expected to be softer than Employer Services; with further deceleration observed, what concrete steps are you taking to bolster growth in the PEO segment, and how confident are you in achieving your PEO targets for the year?
-
Considering that the Employer Services retention rate declined slightly, despite record client satisfaction scores, what factors led to this slight decrease in retention, and how are you addressing any underlying issues to ensure retention rates improve?
-
With the issuance of $1 billion of notes at 4.75% to finance the $1.2 billion acquisition, how will the additional interest expense impact your earnings going forward, and are you concerned about the increased leverage on your balance sheet?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
WorkForce Software | 2024 | ADP acquired WorkForce Software for approximately $1.2 billion in cash, expanding its global workforce management solutions and enhancing capabilities in time & attendance, scheduling, leave management, and more, with integration under the Employer Services segment expected to create about 0.5 percentage points of EBIT margin pressure in FY2025. |
Sora | 2023 | The acquisition of Sora, an intelligent workflow automation and data integration tool, reinforces ADP's best-in-class Human Capital Management strategy by complementing its API Central launch to improve integration and automation, with the deal completed in the first quarter of fiscal 2024. |
BTR (Payroll Business) | 2023 | ADP's acquisition of BTR's payroll business provides a physical footprint in Sweden and a strategic entrance into the Nordics, leveraging a long-standing partnership to expand its international payroll and broader HCM capabilities in regions with strong growth prospects. |
Recent developments and announcements about ADP.
Earnings
New Earnings (Q2 2025)
·Jan 29, 2025, 4:02 PMView full earnings summary →ADP’s Q2 2025 pipeline rose YoY, fueling optimism despite a broad-based slowdown in pays per control. Notably, the ~100bps price hike is boosting revenue without hitting client retention. Expect Q3 softness from FX and lower interest income, with Q4 growth still on track.