Insperity Announces Upcoming Retirement of CFO Douglas S. Sharp and Names Insperity Veteran James D. Allison as Successor
Insperity, Inc. (NYSE: NSP), a leading provider of human resources and business performance solutions for America’s best businesses, today announced that its executive vice president of finance, chief financial officer and treasurer, Douglas S. Sharp, has elected to retire on November 15, 2024, after having served as the chief financial officer of Insperity for 21 years.
Insperity also announced the appointment of James D. Allison as Mr. Sharp’s successor, which will also be effective on November 15, 2024. Mr. Allison, who currently serves as executive vice president of comprehensive benefit solutions and chief profitability officer, first joined Insperity in 1997 and worked in various roles of increasing responsibility in its finance department until 2011. Mr. Allison was promoted to Senior Vice President of Pricing and Cost Analysis in 2011. In 2018, in connection with a further promotion, he assumed responsibilities for the company’s gross profit drivers, including pricing, benefit plans, retirement solutions, and workers’ compensation programs. Prior to joining Insperity, Mr. Allison, a certified public accountant, was an auditor for Ernst Young LLP.
Insperity expects that Mr. Allison will retain oversight of the business functions that he currently leads while also adding the responsibilities of his new role.
“Doug has played a key role in helping Insperity deliver growth and profitability over the past two decades,” said Paul J. Sarvadi, the company’s chairman and chief executive officer. “On behalf of the Board of Directors and our management team, I want to express our sincere appreciation to Doug for his dedication to the success of Insperity over these many years, and we wish him the very best in his well-earned retirement. I am also pleased that Jim will succeed Doug as CFO, which I believe is a testament to our succession planning. I am confident that Jim is the right leader for this role as we focus on the future of our business and consolidate our gross profit operations and finance departments under a single executive officer.”
Mr. Sharp stated, “It has been a great honor to have served as Insperity’s CFO for these years and I am proud of the difference that Insperity has made for thousands of small and medium-sized businesses and the communities in which they operate.” Mr. Sharp further noted, “Having had the privilege of working directly with Jim for my entire 25 years at Insperity, I believe that his deep understanding of the company’s business and our industry, along with his strong financial and senior leadership experience, will enable him to help the company to capitalize on the opportunities that lie ahead.”
In addition, Sean P. Duffy will be promoted to senior vice president of finance and accounting, and will oversee the company’s accounting, financial reporting, tax, investment and cash management, and certain other functions. Since first joining Insperity in 2002, Mr. Duffy has held positions of increasing responsibility within the company’s finance department. Mr. Duffy has served as vice president of finance and controller since 2011, in which position he reported to Mr. Sharp and worked extensively with senior management, including Mr. Allison, on financial and accounting matters. Prior to joining Insperity, Mr. Duffy, a certified public accountant, was an auditor for Arthur Andersen LLP.
About Insperity
Since 1986, Insperity’s mission has been to help businesses succeed so communities prosper. Offering the most comprehensive suite of scalable HR solutions available in the marketplace, Insperity is defined by an unrivaled breadth and depth of services and level of care. Through an optimal blend of premium HR service and technology, Insperity delivers the administrative relief, reduced liabilities and better benefit solutions that businesses need for sustained growth. With 2023 revenues of $6.5 billion and more than 90 offices throughout the U.S., Insperity is currently making a difference in thousands of businesses and communities nationwide. For more information, visit http://www.insperity.com.
Forward-Looking Statements
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