CBIZ Welcomes Brad Lakhia as New CFO to Drive Growth

CBIZ Appoints Brad Lakhia as Chief Financial Officer

Lakhia will succeed Ware H. Grove, who is retiring after 24 years.

CBIZ, Inc. (NYSE: CBZ), a prominent national professional services advisor, has announced the appointment of Brad Lakhia as its new Senior Vice President and Chief Financial Officer (CFO). Lakhia will succeed Ware H. Grove, who is stepping down after an impactful 24-year tenure in this critical role. This transition comes as part of a planned succession strategy aimed at enhancing the financial stewardship of the company.

Brad Lakhia's Impressive Background

Lakhia brings nearly three decades of rich experience in leading and developing teams within large-scale, complex organizations. His expertise encompasses critical finance areas such as capital markets, multi-billion-dollar mergers and acquisitions, treasury, financial planning and analysis, investor relations, and operational finance. This diverse background positions him as an ideal candidate to support CBIZ’s ongoing growth initiatives.

Previous Experience and Contributions

Before joining CBIZ, Lakhia served as the Executive Vice President and Chief Financial Officer at OPENLANE, Inc., where he played a vital role in shaping financial strategies for digital marketplaces in wholesale vehicles. Lakhia’s earlier career includes significant achievements as the Vice President of Finance at The Goodyear Tire & Rubber Company's Americas division, where he accumulated over 20 years of progressive finance leadership experience through various international roles. He earned a BSBA in accounting from The Ohio State University's Fisher School of Business and holds an MBA from the Weatherhead School of Management at Case Western Reserve University.

Leadership Perspectives on the Appointment

Jerry Grisko, President and CEO of CBIZ, shared his enthusiasm about Lakhia's appointment, stating, "Brad brings impressive financial acumen and leadership abilities that will allow us to continue to build on our strong financial performance. His experience in mergers and acquisitions, treasury, and operational finance will serve us well as we solidify our position as the unmatched full-service professional services advisor to the growing middle market." This sentiment reflects the palpable excitement within the company regarding Lakhia’s potential to advance CBIZ’s strategic goals.

Brad Lakhia's Vision at CBIZ

Lakhia expressed his thrill at joining CBIZ, highlighting the remarkable potential for the company and the industry at large. "Now that CBIZ and Marcum have come together as one, CBIZ offers an unparalleled breadth of services and depth of expertise. I look forward to leading the finance team to support the continued growth and success of CBIZ. I am grateful to Ware for the lasting legacy he leaves and his commitment to ensuring a smooth transition," he stated.

Farewell from Ware H. Grove

In his farewell remarks, Ware H. Grove acknowledged his fulfilling journey with CBIZ and lauded the company's phenomenal growth during his tenure. He emphasized, "Working with the CBIZ team over the years, we have achieved a remarkable track record of growth and enhanced shareholder value. Having closed the Marcum transaction, the company is in capable hands and this is a good time to step aside. I will support a smooth transition in the coming months and look forward to seeing the continued success of CBIZ."

About CBIZ, Inc.

CBIZ, Inc. (NYSE: CBZ) stands as a leading professional services advisor to middle market businesses throughout the nation. Armed with unparalleled industry knowledge in accounting, tax, advisory, benefits, insurance, and technology, CBIZ provides insightful solutions to help clients anticipate challenges and discover new ways to foster growth. The company boasts a robust presence with over 10,000 team members across more than 160 locations in 21 major markets.

Frequently Asked Questions

Who is Brad Lakhia?

Brad Lakhia is the newly appointed Chief Financial Officer of CBIZ, succeeding Ware H. Grove.

What was Ware H. Grove’s role at CBIZ?

Ware H. Grove served as the Chief Financial Officer for 24 years and has been instrumental in the company’s growth.

What experience does Lakhia bring to CBIZ?

Lakhia brings nearly 30 years of experience in finance leadership from various global companies, including roles at OPENLANE, Inc. and The Goodyear Tire & Rubber Company.

How does Lakhia plan to impact CBIZ?

He aims to leverage his financial expertise to support the ongoing growth and strategic direction of CBIZ.

Where can I find more information about CBIZ?

For more details, you can visit the CBIZ website.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.