Paychex (PAYX) Appoints Kevin A. Price to its Board

Paychex, Inc. (NASDAQ: PAYX) today announced that the company's Board of Directors has voted to expand to 10 members from 9 members. The Board has appointed Kevin A. Price to fill the new position. Mr. Price is the founder and president of PartsScription™, an innovative ecommerce platform helping national and regional retailers to significantly expand their product and parts capabilities.

Mr. Price is an experienced executive and entrepreneur who has leveraged his significant P&L experience and agile leadership to drive business success. In 2006, he founded PartsScription, developing the brand, supply chain, and multi-category web platform that aggregates 9 million parts into a single search and order platform to improve selection, service, and profitability for retail hardware stores. Prior to that, he was Customer Care Network vice president for Sears Holdings Corporation, responsible for P&L and general management for over $1 billion in business units, including Service Contracts Aftermarket, Parts Direct , Sears Repair Services, and Sears/Kmart online sales and operations. With more than 35 years of experience, Mr. Price has also served in senior leadership positions with Ameritech Corporation and Dun & Bradstreet.

"Not only is Kevin a strategic executive, but he is a successful entrepreneur whose experience building his own business is representative of many clients Paychex serves today," said Paychex president and CEO Martin Mucci. "His insight and knowledge will make him a valuable addition to the Paychex Board of Directors."

In addition to his extensive professional experience, Mr. Price has served on the Business School Advisory Board for Dominican University and the College of Business and Public Administration Advisory Council for Drake University. He is also an emeritus board member for Link Unlimited, a nonprofit organization that connects high-potential Black students in Chicago to college and beyond.

Mr. Price holds a bachelor's degree in finance from DePaul University and earned a master's degree in business administration from the University of Chicago.

Mr. Price's appointment to the Paychex Board of Directors is effective immediately.

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