PayScale‘s longtime CEO Mike Metzger has stepped down, and Scott Torrey will lead the company going forward. Torrey is a veteran of SAP Concur who spent nearly two decades with the company and was most recently chief revenue officer.
“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,” Torrey said in a statement.
“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, who has led the company since 2004. “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.”
The company said the move was part of a planned transition. In April, PayScale raised an undisclosed amount of money in a funding round that valued the company at $325 million.
“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,” said Adam Solomon, principal at Francisco Partners, the investment firm that led PayScale’s recent financing round.
Zumwalt declined to share his reasons for leaving the company or his future plans with GeekWire. His LinkedIn profile says that he oversaw the treasury as Amazon grew from $5 billion to more than $200 billion in revenue. Former assistant treasurer Tony Masone has stepped up into the role of treasurer, according to his LinkedIn.