TriNet Group (TNET) CFO Porter to Retire

October 3, 2016 9:08 AM EDT

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TriNet Group, Inc. (NYSE: TNET) announced that its Vice President and Chief Financial Officer, Bill Porter, plans to retire from the company after six years of service. Mr. Porter will remain in his current role as CFO until a successor has been named, ensuring an orderly transition for the new CFO. Mr. Porter will then continue with the company in an operating role as an adviser to the CEO. The company will engage a leading executive search firm to conduct a nationwide search to identify a replacement for Mr. Porter.

"I am extremely grateful for Bill's years of distinguished service to our company as CFO," said Burton Goldfield, TriNet's President and Chief Executive Officer. "Bill played a vital role in achieving our successful IPO, oversaw a period of rapid revenue growth and expansion from when he joined in 2010 and helped us execute on several strategic transactions. His contributions in these company successes were invaluable. I know I speak for everyone at TriNet when I thank him for his many contributions as CFO and I look forward to working with him in his new role."

Mr. Porter added, "I am proud of all that we have accomplished at TriNet over the past six years. I am confident that we will identify a strong CFO to continue to build on these accomplishments and I look forward to working closely with the new CFO to ensure a successful transition."

Mr. Porter joined the company in 2010 as Vice President and Chief Financial Officer. Prior to joining TriNet, he served in a series of executive roles at Cadence Design Systems, including as the company's Chief Administrative Officer and CFO. Prior to Cadence, Mr. Porter spent six years at Apple in various accounting, reporting and operational roles. Mr. Porter began his career at Arthur Andersen, where he served small and midsize businesses and high-tech clients for 12 years.

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