DALLAS, Aug. 30, 2012 /PRNewswire/ -- BenefitMall, which merged with CompuPay in May, has announced that Charles Lathrop will be stepping down as president and chief revenue officer effective later this year. Although he will no longer be involved in day-to-day operations, Lathrop will stay on as an advisor and investor in the company.
"Charlie has done an extraordinary job of building the company as well as a solid team," said Bernard DiFiore, chief executive officer, BenefitMall. "We are deeply appreciative of the role he's played in bringing us to where we are today and look forward to the opportunities that await us as we continue to combine our strengths."
"It has been a privilege to be a part of the tremendous successes we've had, and I have every confidence that there will continue to be growth and accomplishments," said Lathrop. "The company has a strong vision for the future, and I look forward to serving as an advisor and investor."
As a result of Lathrop's departure, Todd Waletzki, chief operating officer, will assume the operations responsibility for BenefitMall's Third Party Administration services and will report directly to DiFiore as will Mike Gomes, executive vice president. Kathey Palmer, senior vice president, will now manage the After Payroll Services sales as well as Business Development and Mid Market Sales and report to Mike Gomes.
Headquartered in Dallas, Texas, BenefitMall is the fastest growing provider of integrated payroll and employee benefit products and services. Through equity financing led by Austin Ventures, BenefitMall and CompuPay merged in 2012.
In business for more than 30 years, BenefitMall offers thousands of health care plans from more than 125 leading insurance carriers sold through 20,000 independent registered brokers in the U.S., producing more than $1 billion in annual insurance premiums. CompuPay, a BenefitMall company, is the second largest privately held payroll company in the U.S. providing payroll services, including workers' comp, retirement plans, and Section 125 and 132 plans.
The combined companies share over 30 years experience, and through broker and partner distribution channels, they assist more than 160,000 businesses, representing 2.5 million employees and their dependents, and provide valuable compensation and employee benefit packages.