Insperity board of directors
Lead Independent Director
Chair – Compensation Committee
Member – Nominating and Corporate Governance Committee
Mr. Clifford, who is a Class I director, joined the Board of Directors in October 2016. He is Chair of the company’s Compensation Committee and a member of the Nominating and Corporate Governance Committee. From June 2015 through March 2019, Mr. Clifford served as president and chief executive officer of Frontline Education, a private-equity-backed cloud software company that manages human resources functions at over 80,000 public and private schools in the U.S. Prior to joining Frontline Education, from 2010 through 2013, Mr. Clifford was a corporate officer and co-president of Automatic Data Processing (NYSE: ADP) National Accounts, a $2.5 billion human capital management software and services business serving the largest U.S. companies, and was the co-founder and chief executive officer of Workscape, Inc., a pioneering cloud software provider to the human capital management industry, from 1999 until its acquisition by ADP in 2010. Prior to founding Workscape, he held executive or senior leadership positions at HealthPlan Services, Consolidated Group and Prudential Insurance Company. From 2013 to 2015, he also served as a director and audit committee member of Carbonite Inc. (Nasdaq: CARB). Mr. Clifford holds a Bachelor’s degree in liberal arts from Northeastern University in Boston.
Dr. Jones, who is a Class III director, joined the Board of Directors in December 2020. Since July 2015, Dr. Jones has served as the Dean of the Mays Business School at Texas A&M University. He has also served on the board of trustees of the Invesco family of funds since 2016. Dr. Jones was also a director of Insperity from 2004 through June 2016. Prior to his current position at the Mays Business School, from 2012, he was the Dean of the Sam M. Walton College of Business at the University of Arkansas and holder of the Sam M. Walton Leadership Chair in Business. Prior to joining the faculty at the University of Arkansas, he was Dean of the E. J. Ourso College of Business and Ourso Distinguished Professor of Business at Louisiana State University (“LSU”) from 2008 to 2012; Professor of Marketing and Associate Dean at the C.T. Bauer College of Business at the University of Houston from 2007 to 2008; an Associate Professor of Marketing from 2002 to 2007; and an assistant professor from 1997 until 2002. He taught at Texas A&M University for several years before joining the faculty of the University of Houston. Dr. Jones served as the executive director of the Program for Excellence in Selling and the founding director of the Sales Excellence Institute at the University of Houston from 1997 to 2007. Before becoming a professor, he worked in sales and sales management for three Fortune 100 companies: Quaker Oats, Nabisco and Frito-Lay. He received his Bachelor of Science degree in Journalism in 1982, his MBA in 1986, and his Ph.D. in 1997, all from Texas A&M University.
Member – Compensation Committee
Chair – Nominating and Corporate Governance Committee
Ms. Kaufman, who is a Class II director, joined the Board of Directors in November 2013. She is Chair of the Nominating and Corporate Governance Committee, a member of the company’s Compensation Committee and previously served as the lead independent director from May 2014 until May 2016. From July 2011 through April 2018, Ms. Kaufman served as the executive vice president, secretary, chief administrative officer and chief governance officer of The Cooper Companies, Inc., a global medical device company, where she had previously served in a variety of capacities since October 1995, including as vice president of legal affairs beginning in March 1996 and senior vice president beginning in October 2004. From January 1989 through September 1995, she served as vice president, secretary and chief administrative officer of Cooper Development Company, a former affiliate of The Cooper Companies, Inc. Beginning in 1971, Ms. Kaufman held several financial positions, including deputy corporate controller, with Cooper Laboratories, Inc., the former parent of The Cooper Companies, Inc. Ms. Kaufman also serves as a member of the western region advisory board for FM Global, the world’s largest property insurer. Ms. Kaufman served as a director of Chindex, Inc. (former Nasdaq-listed company) from November 2000 until September 2014, serving on its audit and compensation committees and as chair of its governance and nominating committee, and as a member of its special transaction committee until its sale in 2014 to TPG. Ms. Kaufman earned a Bachelor of Science degree in Mathematics in 1971 from Boston University.
Member – Finance, Risk Management and Audit Committee
Mr. Lumelleau, who is a Class II director, joined the Board of Directors in December 2019. Mr. Lumelleau served as the president and chief executive officer of Lockton, Inc., the largest privately held independent insurance broker and a top 10 insurance broker globally, from 2002 until his retirement in 2017. Since his retirement, he has served as an independent advisor to Lockton and continues to serve on the board of directors of Lockton. In 2019, he also became chairman of the board of Orchid Underwriters Agency, LLC, a leading specialty underwriter of catastrophe exposed property insurance, and is a member of the management advisory board of TowerBrook Capital Partners. While he served as president and chief executive officer, Lockton’s revenues grew from $92 million to $1.4 billion and it expanded from seven offices to 85 offices globally. Previously, he served as president of Lockton from 2000-2002 and as operations executive from 1997 to 1999. Prior to joining Lockton, Mr. Lumelleau held various roles at Alexander & Alexander, Inc. and its successor, AON Risk Services, from 1976 until 1997, including executive vice president of global retail sales. He currently serves on the Board of Trustees of Fordham University, the Board of Directors of The Council of Insurance Agents and Brokers and the Board of Overseers of the St. John’s University School of Risk Management & Actuarial Sciences. Mr. Lumelleau holds a Bachelor of Arts from Fordham University.
Ellen H. Masterson
Chair – Finance, Risk Management and Audit Committee
Ms. Masterson, who is a Class I director, joined the Board of Directors in September 2017. She is chair of the company’s Finance, Risk Management and Audit Committee. Since 2014, Ms. Masterson has served as an independent director of Westwood Holdings Group (NYSE: WHG), an investment management firm with over $20 billion in assets under management, and Westwood Trust, a Texas state-chartered trust company. Ms. Masterson is the Chair of the audit committee of both WHG and Westwood Trust and serves as a member of the WHG governance committee. Ms. Masterson retired as a partner with PricewaterhouseCoopers LLP (“PwC”) in 2008, having served in this capacity since 1999 and from 1985 to 1997. Ms. Masterson specialized in audits of companies involved in several sectors of the financial services industry and public companies with a focus on mergers and acquisitions. She held senior positions within the leadership of PwC from 2001 to 2008, including international responsibilities across the global network of PwC firms. From 1997 to 1999, Ms. Masterson served as senior vice president and chief financial officer of American General Corporation, prior to its acquisition by American International Group, Inc. Since 1982, she has served on numerous boards of non-profit and charitable organizations.
Member – Compensation Committee
Randall Mehl, who is a Class III Director, joined the Board of Directors in December 2017. He is a member of the company’s Compensation Committee and previously served as a member of the Finance, Risk Management and Audit Committee. Mr. Mehl currently serves on the boards of ICF (Nasadq: ICFI), a global consulting and technology services provider, and Kforce Inc. (Nasdaq: KFRC), a professional staffing firm. He is also the president of Stewardship Capital Advisors, LLC, which manages an equity fund focused on making investments in business and technology services. Prior to that, he served as a managing director and a partner with Baird Capital, a middle-market private equity group, and led a team focused on the business and technology services sector from 2005-2016. From 1996-2005, Mr. Mehl was a senior equity research analyst with Robert W. Baird & Company, covering various areas within the broader business and technology services sector, including professional employer organizations. Mr. Mehl serves on several private company boards and on the investment committee for several funds, and has expertise analyzing, acquiring and selling businesses.
Member – Finance, Risk Management and Audit Committee
Mr. Morphy, who is a Class III director, joined the Board of Directors in May 2016. He is a member of the Finance, Risk Management and Audit Committee. Mr. Morphy previously served as senior vice president, chief financial officer, secretary and treasurer of Paychex, Inc. (NASDAQ:PAYX), a leading provider of payroll, human resource and benefits outsourcing solutions for small to medium-sized businesses, from October 1996 until June 2011, when he was appointed vice president of finance at Paychex until he retired in January 2012. As CFO of Paychex, Mr. Morphy reported directly to the CEO and was responsible for all finance, legal, shareholder relations, purchasing, real estate and travel functions. Prior to joining Paychex in 1995, he served as the chief financial officer of Goulds Pumps, Inc., a then-publicly traded global manufacturer of pumps for the industrial, commercial and water supply markets, from 1985 to 1993 and as group vice president over industrial products at Goulds through 1995. From 1976 to 1985, Mr. Morphy was vice president and controller for Computer Consoles, Inc., and before that he was an accountant at Arthur Andersen & Company. Mr. Morphy also previously served as a director of Inforte Corp., a then-publicly traded customer and demand management consultancy, from April 2003 to August 2004. He earned his Bachelor of Science degree in accounting from LeMoyne College and his certified public accountant certificate in 1973.
Member – Finance, Risk Management and Audit Committee
Dr. Ramchand, who is a Class I director, joined the Board of Directors in December 2019. Dr. Ramchand has served as executive vice chancellor and provost at the University of Missouri since her appointment in August 2018. Previously, Dr. Ramchand served as dean of the C.T. Bauer College of Business of the University of Houston from 2011 to 2018. Prior to her deanship, she served as associate dean from 2006. During her tenure as dean, Bauer College grew enrollment to over 6,400 students, oversaw the creation of a social entrepreneurship program, expanded programs in entrepreneurship and technology commercialization and created a venture fund and a start-up accelerator. Dr. Ramchand held various professorships with the Bauer College from 1993 until her promotion to associate dean. Dr. Ramchand is also a certified financial analyst and currently serves on the advisory board of the CFP Board of Standards since 2018. She received her Ph.D., Finance, from the Kellogg Graduate School of Management of Northwestern University in 1993, her M.A., Economics, from the University of Bombay in 1983 and a B.A., Economics, also from the University of Bombay in 1981.
Richard G. Rawson
Mr. Rawson, who is a Class III director, joined the Board of Directors in 1989. From August 2003 until his retirement as an executive officer of the Company in May 2018, he served as the company’s president. Before being elected president, he served as the company’s executive vice president of administration, chief financial officer and treasurer of the company from February 1997 until August 2003 and as senior vice president, chief financial officer and treasurer of the company from 1989 until February 1997. Prior to joining the company in 1989, Mr. Rawson served as a senior financial officer and controller for several companies in the manufacturing and seismic data processing industries. He has served the National Association of Professional Employer Organizations (“NAPEO”) as president, first vice president, second vice president and treasurer, as well as chairman of the Accounting Practices Committee. Mr. Rawson has a Bachelor of Business Administration in finance from the University of Houston and currently serves as a member of the board for the C.T. Bauer College of Business.
Paul J. Sarvadi
Chairman and Chief Executive Officer
Mr. Sarvadi, Chairman of the Board and Chief Executive Officer and co-founder of the Company and its subsidiaries, is a Class II director and has been a director since the Company’s inception in 1986. He has also served as the Chairman of the Board and Chief Executive Officer of the Company since 1989 and as President of the Company from 1989 until August 2003. He attended Rice University and the University of Houston prior to starting and operating several small companies. Mr. Sarvadi has served as President of the National Association of Professional Employer Organizations (“NAPEO”) and was a member of its Board of Directors for five years. In 2001, Mr. Sarvadi was selected as the 2001 National Ernst & Young Entrepreneur of the Year® for service industries. In 2004, he received the Conn Family Distinguished New Venture Leader Award from Mays Business School at Texas A&M University. In 2007, he was inducted into the Texas Business Hall of Fame.