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SEATTLE, Aug. 26, 2019 (GLOBE NEWSWIRE) -- PayScale, Inc., the world’s leading provider of cloud-based compensation software and data, today announced that Scott Torrey will take on the role of CEO in a planned succession from CEO Mike Metzger, effective August 26, 2019.
Metzger has led the company as CEO for the last 15 years, establishing PayScale as the market leader and category definer in compensation management with more than 8,000 clients, from small businesses to the Fortune 500.
“I’m proud of what our team has built and the forward-thinking compensation approach we’ve enabled for thousands of businesses and millions of employees,” said Metzger of the transition. “At this stage, I’m pleased to hand the reins to Scott who shares PayScale’s cultural values and has proven skills in scaling a highly successful SaaS company to billions of dollars in revenue.”
Torrey, a Seattle native, is a former 20-year senior executive with SAP/Concur.
“I'm thrilled to assume the CEO role of a market-leading company, well positioned for significant growth in an area important to all employees and the organizations that employ them,” said Torrey. “When you match a tremendous market opportunity with an award-winning product and a culture recognized as one of the best in Washington state, you have a special opportunity.”
Torrey joined Concur in 1999 as part of the early management team in a leading, global SaaS company that now has over 10,000 employees that serve 50 million travelers and 50,000 customers. He successfully served in several senior executive roles across multiple functions over the last two decades, including EVP Operations, VP Implementation & Customer Support and EVP Public Sector, where he oversaw the sale of a 15-year 1.5 billion contract award to the U.S. Federal Government that serves as the foundation for Concur's growth in the Public Sector today. He most recently spent the last six years as Concur's International Chief Revenue Officer, spurring the growth of the company’s global revenue by more than 40 percent.
During Torrey’s six years as EVP Operations looking after the internal growth of Concur from 600 to 6,000 employees, he managed the HR, IT, Facilities and Procurement functions.
“I became keenly aware of the importance of compensation data as Concur sought to hire and retain people in dynamic employment markets around the world,” said Torrey. “I quickly recognized the importance of the unique capabilities that PayScale is providing.”
In May of this year, Francisco Partners invested in PayScale with a strategy to expand the company’s lead in the compensation market, offering an essential capability for enterprises to improve recruiting effectiveness, boost employee satisfaction and ensure pay equity.
“We’re delighted to welcome Scott to the PayScale team and are excited for the future of PayScale,” said Adam Solomon, Principal at Francisco Partners. “Our thanks to Mike Metzger for a tremendous job in leading PayScale to this stage and for his true partnership over the last several months. The platform has been set for the next stage of PayScale’s growth, which we are confident that Scott Torrey will lead skillfully and effectively.”
PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Encana, Patagonia, The New York Times, Sunsweet, T-Mobile, United Health Group, Wendy's and Perry Ellis. For more information, please visit: https://www.payscale.com/ or follow PayScale on Twitter: https://twitter.com/payscale.
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