Paycom Software, Inc., a leading provider of cloud-based human capital management (HCM) software, has promoted Bob Foster to chief financial officer (CFO), effective February 21, 2025. Foster succeeds Craig Boelte, who is retiring after nearly two decades of financial leadership at Paycom. Foster’s appointment marks the next phase of growth and innovation for Paycom’s financial strategy.
Bob Foster: A Proven Leader in Finance and Growth Strategy
Bob Foster joined Paycom in 2022 and quickly established himself as a key contributor to the company’s growth strategy. As executive vice president of accounting and finance, he played a pivotal role in process automation and financial planning.
In his new role as CFO, Foster will focus on:
- Overseeing all accounting and finance functions
- Long-term financial planning and strategy
- Investor relations
- Driving ROI and operational efficiency
Foster expressed his gratitude and excitement for the opportunity:
“I have seen the financial stewardship at Paycom and am grateful for the opportunity to continue to set the financial management standard Paycom has been known for over the years. I am eager to see our success continue.”
A Rich History of Experience
Before joining Paycom, Foster served as:
- CEO and Chairman of a payroll company, where he significantly grew revenue and expanded operations over eight years.
- Senior Partner at Ernst & Young, managing some of the firm’s largest accounts and bringing extensive experience in accounting, payroll, and process automation.
His leadership will ensure Paycom continues to innovate and maintain its position as a top provider of HCM solutions.
Craig Boelte’s Legacy at Paycom
Craig Boelte leaves behind a legacy of nearly 20 years of financial leadership at Paycom. Joining the company in 2006, he was instrumental in guiding Paycom’s journey from a small private company to a publicly traded member of the S&P 500. His accomplishments include:
- Leading Paycom’s IPO
- Overseeing consistent financial growth and success
- Helping position Paycom as a leader in the HCM industry
Reflecting on his time at Paycom, Boelte said:
“Being part of the growth over the past two decades has been the highlight of my career. I am incredibly grateful for the hard work and dedication of our employees and leadership team.”
Why This Matters
Foster’s promotion signals a new chapter for Paycom’s financial strategy. His expertise in payroll solutions, process automation, and strategic growth will help drive innovation and operational excellence. Meanwhile, Boelte’s retirement marks the end of an era, highlighting Paycom’s impressive journey from a growing private company to a global leader in HCM software.
With Bob Foster stepping into the CFO role, Paycom is poised for continued financial growth and innovation. His leadership, coupled with Boelte’s enduring legacy, ensures that Paycom remains at the forefront of the HCM industry, delivering strong ROI and innovative solutions for its clients.
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