CBIZ, Inc. (NYSE: CBZ) has appointed Kathy Raffa as an independent director to the company's board of directors, effective Jan. 15, 2025. This new addition to the board comes following CBIZ’s acquisition of the non-attest assets of Marcum, which closed on Nov. 1, 2024. Raffa brings over 40 years of experience providing audit, accounting, and consulting services to clients primarily in the nonprofit industry. She was the president of Raffa, PC, a top 100 accounting firm based in Washington, D.C., and also served as an audit partner for over 25 years prior to its merger with Marcum in 2018. Following the merger, she served as the office managing partner for Marcum’s offices in the D.C. region until her retirement in October 2023.
Raffa's extensive background includes serving as a member of the board of directors of EagleBank and Eagle Bancorp, Inc., and previously on several nonprofit boards including Trinity Washington University and Levine Music. She has also been a member of the Economic Club of Washington, D.C., and the city’s Federal City Council.
CBIZ, Inc. is a leading professional services advisor to middle-market businesses and organizations nationwide, with over 10,000 team members across more than 160 locations in 21 major markets coast to coast.
This appointment is expected to bring deep industry knowledge and expertise to the company's board, with Raffa's familiarity with the Marcum organization and her proven business acumen. Her significant leadership experience is anticipated to make her an invaluable contributor to the board as CBIZ continues to deliver forward-thinking insights and actionable solutions to help clients anticipate what's next and discover new ways to accelerate growth. The market has reacted to these announcements by moving the company's shares 1.4% to a price of $85.69. Check out the company's full 8-K submission here.
