TriNet Announces Retirement of Burton M. Goldfield and Appoints Mike Simonds President and CEO

Dublin, CA — February 15, 2024 — TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced that its President, Chief Executive Officer and Board Member, Burton M. Goldfield is retiring from the company, and Mike Simonds has been appointed his successor as President and CEO, and will also join the TriNet Board of Directors effective February 16, 2024.

Simonds most recently served as Executive Vice President and Chief Operating Officer at Unum Group, a Fortune 500 provider of workplace benefits and services. In this role, Mike was responsible for all of Unum’s active businesses, collectively a team of more than 8,000 colleagues dedicated to serving nearly 40 million workers and their families.

He previously served as President and CEO of Unum US, Unum Group’s largest business unit, as well as other management positions at Unum. During this time, Simonds helped to lead the company's investments in a differentiated customer experience through HCM partnerships and expansion in voluntary benefits, dental, vision, and absence management solutions.

While retiring as President and CEO, Goldfield will continue as a special advisor to the company through March 31, 2025.

“On behalf of the board, the executive management team, and all TriNet employees, I would like to thank Burton for his incredible leadership and unwavering dedication to the Company’s success,” said TriNet Chairman, David Hodgson. “TriNet has experienced tremendous growth and undergone a significant transformation under Burton’s 15-year service as President and CEO. He led us through our successful 2014 IPO, multiple strategic acquisitions, and the maturation of our business model and management team, creating a solid foundation for the future. TriNet, our people, our customers, our shareholders and our industry owe him a debt of gratitude.”

Hodgson added, “We are also thrilled to have Mike join TriNet as President and CEO. After an extensive search, the board concluded that Mike’s deep SMB industry and operational experience, strong leadership skills, knowledge of risk products, and extensive record of successfully building high-performing teams make him the right person to lead TriNet as it continues its growth.”

“After having the privilege of serving as TriNet’s President and CEO for more than 15 years, now is a perfect time for me to retire. It has always been my goal to build TriNet into an amazing and enduring company which we have achieved,” said Burton M. Goldfield. “It has been an honor to lead such a remarkable team and experience the growth and success we accomplished together, including our 10-year trajectory as a public company—and the prospects for 2024 and the future are very bright.”

Goldfield added, “The Board and I have every confidence in Mike to continue the momentum and capitalize on the unique opportunity in front of us. I want to thank my incredible colleagues, our outstanding board of directors, and our inspiring customers for their dedication and support throughout this magnificent and unforgettable journey.”

“Small business is where incredible things start. Thanks to Burton, our 3,600 remarkable colleagues, and a growing number of partners, TriNet delivers exceptional HR solutions to small and medium-size businesses and their employees,” said Mike Simonds. “I’ve spent much of my career around employee benefits and HR technology, and I know how complex and time-consuming they can be. I am excited to join the TriNet team and focus on growing our business, and in doing so, enabling more small businesses to focus on what they do best—changing the world for the better.”

TriNet will host a conference call to discuss its fourth quarter and full calendar year 2023 financial results today at 2:00 p.m. Pacific time (5:00 p.m. Eastern time).

About TriNet

TriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service industry-specific HR solutions, providing both professional employer organization (PEO) and human resources information system (HRIS) services. TriNet offers access to human capital expertise, benefits, risk mitigation, compliance, payroll, and R&D tax credit services, all enabled by industry-leading technology. TriNet’s suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, benefits, employee engagement, payroll and time & attendance. Rooted in more than 30 years of supporting entrepreneurs and adapting to the ever-changing modern workplace, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. For more information, visit TriNet.com or follow us on Facebook, LinkedIn and Instagram.