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ADPs CFO to Step Down

CFO duties will be handled by company’s treasurer and corporate controller while a successor is sought.Karen E. Dykstra has tendered her resignation as CFO of Roseland-based Automatic Data Processing (NYSE: ADP) effective May 1.

She is leaving the transaction-processing company to join investment advisor Plainfield Asset Management in Greenwich, Conn. Dykstra will serve as the chief operating officer and CFO of Plainfield Asset Management’s direct lending and investment business.

Following her departure, Dykstra will serve as a consultant to ADP through the remainder of the company’s fiscal year that ends June 30.

Her CFO duties will be split between Dan Sheldon, corporate controller, and Raymond Colotti, treasurer. The company says it will name a new CFO at a later date.

Shares of ADP were down $0.20 to $45.81 in morning trading.