CBIZ, Inc. (NYSE: CBZ) has announced the appointment of Brad Lakhia as its next Senior Vice President and Chief Financial Officer (CFO), succeeding Ware H. Grove, who will retire after a successful 24-year tenure in the role. Lakhia is set to assume the CFO role and join the CBIZ senior team on March 17, 2025.
Lakhia's extensive experience includes leading and developing teams within large, complex global companies across critical finance disciplines. He most recently served as the Executive Vice President and CFO of Openlane, Inc. (NYSE: KAR), and prior to that, as Vice President of Finance for the Americas business segment of The Goodyear Tire & Rubber Company (NYSE: GT).
CBIZ's President and CEO, Jerry Grisko, expressed enthusiasm about Lakhia's appointment, citing his impressive financial acumen and leadership abilities that will contribute to the company's continued growth. Lakhia's experience in M&A integration, treasury, capital markets, and operational finance is expected to serve CBIZ well as it solidifies its position as a full-service professional services advisor to the growing middle market.
The press release also highlighted the retirement of Ware H. Grove, who played an indispensable role in CBIZ's recent acquisition of Marcum, the largest transaction in the company's history. Grove expressed confidence in the company's future, stating that having closed the Marcum transaction, the company is in capable hands and this is a good time to step aside.
CBIZ, Inc. is a leading professional services advisor to middle market businesses and organizations nationwide, with expertise in accounting, tax, advisory, benefits, insurance, and technology. The company has more than 10,000 team members across more than 160 locations in 21 major markets coast to coast. As a result of these announcements, the company's shares have moved -0.8% on the market, and are now trading at a price of $81.15. For the full picture, make sure to review CBIZ's 8-K report.
