TriNet Hires Seasoned Cadence Executive as CFO
Trusted small business provider announces William Porter’s addition to the executive team.
SAN LEANDRO, Calif. (Aug. 23, 2010) – TriNet, the country’s largest private provider of human resources outsourcing solutions to small businesses, today announced the appointment of William Porter as Chief Financial Officer. Porter is tasked with scaling the financial organization to support the company’s growth strategy. He began his new role today, and is based at the company’s San Leandro headquarters.
“Bill provides the total package,” said Burton M. Goldfield, TriNet’s president and CEO. “He has navigated substantial corporate growth in a variety of roles, from finance through operations, and thus has the expertise to implement our strategic vision into an operational model that will seamlessly scale in our high-volume, high-growth environment.”
Porter steps in for Douglas P. Devlin, who will be retiring after more than 20 years with the company. Devlin worked with the executive team to recruit his successor and will stay on board through mid-September to ensure a smooth transition.
“My time here has been a CFO’s dream come true,” said Devlin. “It’s been a great experience growing this company from its early startup days to now being a $200 million player in the PEO industry, in addition to guiding TriNet through seven acquisitions and a number of major financing events. You couldn’t write a better story. Having Bill come on board at this point in the company’s development is a great next step for TriNet.”
Porter was most recently at Cadence Design Systems, where he served in a series of executive roles over a 15-year period. He was most recently executive vice president and chief administrative officer, where he partnered with the CEO on growth strategy, while also managing finance, treasury, legal, HR, business development and corporate marketing. He was Cadence’s CFO for nine years after starting at the company as its controller, and was focused on improving the company’s operational performance, building high-performance teams and scaling its systems and processes. During his tenure, Cadence grew from a $360 million company to a $1.6 billion global industry leader. Porter’s accomplishments included managing and integrating numerous acquisitions, establishing regional shared service centers and implementing proprietary software fulfillment and ERP systems.
Porter also spent six years at Apple, where he held accounting, reporting and operational roles. He began his career at Arthur Andersen & Co., where he served small and medium-sized businesses and high-tech clients and gained 12 years experience in accounting, audits, business consulting and mergers and acquisitions.
“TriNet fulfills a compelling market need and I am excited to come on board and help scale this business,” said Porter. “I believe TriNet provides an exceptional service to entrepreneurs, allowing them to focus on building their business.”
Porter has a bachelor’s degree in accounting and an MBA in finance, both from UC Berkeley. He served on Onyx Systems’ board of directors from January 2005 to August 2006, where he held the role of Audit Committee Chair prior to the company’s sale to private equity investors.
TriNet is a trusted partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet’s solutions help contain costs, minimize employer-related risks and relieve administrative burden to keep an entrepreneur’s focus on core business functions. From routine employee benefits service and payroll processing to high-level human capital consulting, TriNet's PEO expertise is integrated with every facet of a client’s business. TriNet specializes in serving fast-moving companies in fields such as technology and professional services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.
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