By Bowdeya Tweh

Automatic Data Processing Inc.'s finance chief, Jan Siegmund, plans to resign from his post, the payroll-processing company said Tuesday.

The announcement, disclosed in a Securities and Exchange Commission filing, comes after the company completed a meeting with investors earlier in the day. Mr. Siegmund's departure date hasn't been determined, according to the filing.

No cause was immediately provided for Mr. Siegmund's exit. Mr. Siegmund joined ADP in 1999 and was named CFO in November 2012.

Mr. Siegmund's exit also comes as two activist hedge funds, D.E. Shaw Group and Sachem Head Capital Management, have built stakes in the firm. The Wall Street Journal reported last month the investors hadn't yet decided whether to push for changes at the company, citing people familiar with the matter, but had separately met with ADP management.

Shares in ADP were up 1.6% to $136.25 in Tuesday trading.

Write to Bowdeya Tweh at Bowdeya.Tweh@wsj.com

(END) Dow Jones Newswires

June 12, 2018 12:35 ET (16:35 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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