Paychex Appoints Two Vice Presidents of Payroll Sales

Michael McCarthy assumes leadership of Major Market Services; Thomas Meagher to head Core Payroll in Eastern U.S.

ROCHESTER, N.Y.--(BUSINESS WIRE)--

Paychex, Inc. today announced new leadership responsibilities for two veteran senior managers in its sales organization. Michael A. McCarthy has been named the company's vice president of sales for Major Market Services, the segment of the Paychex payroll business that serves clients with more complex payroll and human resources needs. McCarthy, an 18-year veteran of the company, had served as vice president of sales for Core payroll in the Eastern United States since January 2005.

Thomas F. Meagher has been named the company's new vice president of sales for Core payroll in the Eastern U.S. Meagher is a 21-year veteran of Paychex who has served as regional sales manager for the metropolitan New York area since 2002.

The Paychex Board of Directors has named Meagher a new officer of the company. McCarthy was named an officer in 2005 and remains in that position.

"Both of these individuals have continually demonstrated strong leadership in delivering consistent results during their careers with Paychex," said Walter Turek, Paychex senior vice president of sales and marketing. "I am very pleased to recognize their significant contributions to the company."

Michael A. McCarthy joined Paychex in 1990 as a district sales manager. He held various sales management positions with the company before being named an area vice president of sales in 2002. His promotion to vice president came in 2005. Prior to joining Paychex, McCarthy was vice president of sales and marketing for Citigroup, Inc. He holds a doctorate in human resource development from UCLA in Los Angeles, California. Additionally, McCarthy has master's and bachelor's degrees in economics from Northeastern University in Boston, Massachusetts.

Thomas F. Meagher joined Paychex in 1987 as a payroll sales representative. During his career with the company, he has held several sales management positions, most recently serving as a regional sales manager. Meagher holds a Bachelor of Science degree in commerce from Rider University in Lawrenceville, New Jersey.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource services include 401(k) plan recordkeeping, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices and serves over 561,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.

Source: Paychex, Inc.

Released May 6, 2008