Why is the Chief Financial Officer departing?

The filing states that the departure of Christopher Reidy as CFO was a mutual agreement between him and the company. No specific reasons for the mutual agreement were provided in this 8-K filing.

Who has been appointed as the new CFO?

Jan Siegmund has been appointed as the new Chief Financial Officer, effective November 5, 2012. He was previously the Chief Strategy Officer and President of Added Value Services.

What is Jan Siegmund's background with ADP?

Jan Siegmund has a long tenure with ADP, having joined the company in 1999. He has held progressively senior roles, including Vice President of Corporate Strategy, Corporate Vice President of Strategic Development, Senior Vice President of Strategic Development for Brokerage Services Group, Chief Strategy Officer, and President of Added Value Services.

Will there be any disruption to ADP's financial operations due to this change?

The company has arranged for the departing CFO, Christopher Reidy, to remain available through the end of the calendar year to facilitate an orderly transition of his responsibilities to his successor. This suggests an effort to minimize disruption.

ADP 8-K: Leadership Changes

Summary

Automatic Data Processing, Inc. (ADP) filed an 8-K on November 1, 2012, reporting a significant change in its executive leadership. The company and its Chief Financial Officer, Christopher Reidy, mutually agreed that Mr. Reidy would step down from his role effective November 2, 2012. Mr. Reidy will remain with the company until the end of the calendar year to ensure a smooth transition. Simultaneously, ADP announced the appointment of Jan Siegmund as the new Chief Financial Officer, effective November 5, 2012. Mr. Siegmund, who has been with ADP since 1999 and most recently held the positions of Chief Strategy Officer and President of Added Value Services, brings extensive experience within the company to this critical role. This leadership transition is a key development investors should monitor.

Key Highlights

1Departure of CFO Christopher Reidy mutually agreed upon, effective November 2, 2012.
2Christopher Reidy to remain with ADP through year-end for transition support.
3Jan Siegmund appointed as new Chief Financial Officer, effective November 5, 2012.
4Jan Siegmund has been with ADP since 1999, holding various senior leadership roles.
5Siegmund's previous roles include Chief Strategy Officer and President of Added Value Services.
6The company filed a press release as an exhibit to this report.

AUTOMATIC DATA PROCESSING INC 8-K Report, Executive Changes (Nov 1, 2012)

Summary

Key Highlights

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