Paychex Recognizes the Fundamental Principle That Good Corporate Governance Is Critical to Organizational Success and the Protection of Stockholder Value

NORTHAMPTON, MA / ACCESSWIRE / January 19, 2023 / Paychex, Inc.

Highlights of our FY22 ESG Governance efforts:

• We have expanded our ESG strategic framework from four to nine pillars as we believe pursuing a robust ESG strategy is critical for the continued success of Paychex. These pillars are: Ethics; Governance; Privacy and Security; Diversity, Equity, and Inclusion; Employees; Environment; Community; Empowering Businesses; and Occupational Safety.
• Our Board of Directors remains focused on the long-term sustainability of our business. Effective in the fourth quarter of FY22, the Board divided the responsibilities of the Governance and Compensation Committee into two separate Board committees: The Compensation and Leadership (C&L) Committee and the Nominating & ESG (N&E) Committee.
• The C&L Committee assists the Board by providing oversight of the design and administration of the company's executive and director compensation plans; and evaluates and determines compensation of members of the Board, Chief Executive Officer, and senior executive officers. The N&E Committee provides oversight of the company's risks, reporting and disclosures with respect to ESG matters, including an update on the annual assessment of environmental or climate-related risks facing the company. The N&E Committee also oversees policies and programs related to environmental sustainability and philanthropic and political activities. In addition, the N&E Committee assists the Board with attracting, developing, promoting, and retaining directors and executives from diverse backgrounds with the talents and skills critical to the long-term success of the company.
• In FY22, a portion of the CEO's qualitative goals was based on DEI and ESG program improvements. Going forward in FY23, DEI and ESG program improvement goals have been included as a qualitative component to cash incentive plan metrics for all executives.

In FY22, our MSCI ESG Rating improved from BBB to A and our FTSE Russell ESG Rating improved from 2.8 to 3.3

Paychex is included in FTSE4GOOD Index Series.

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To learn more about Paychex's commitment to corporate social responsibility, visit our website https://www.paychex.com/corporate/corporate-responsibility

View additional multimedia and more ESG storytelling from Paychex, Inc. on 3blmedia.com.

Contact Info:
Spokesperson: Paychex, Inc.
Website: https://www.3blmedia.com/profiles/paychex-inc
Email: info@3blmedia.com

SOURCE: Paychex, Inc.

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