ADP Appoints Thomas J. Lynch and Scott F. Powers to Board of Directors

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Apr 18, 2018, 08:30 ET

ROSELAND, N.J., April 18, 2018 /PRNewswire/ -- ADP (NASDAQ: ADP) announced today that Thomas J. Lynch and Scott F. Powers have been appointed to the Board of Directors, effective April 18, 2018. These appointments expand the ADP Board of Directors to 12 members currently.

Thomas J. Lynch is a seasoned business leader with a deep operational background. He has served as Chairman of TE Connectivity Ltd., a leading global technology and manufacturing company, since 2013 and previously served as Chief Executive Officer from January 2006 to March 2017.

Scott F. Powers has over three decades of experience leading and advising firms in the investment management industry. From 2008 until his retirement in 2015, he was the President and Chief Executive Officer of State Street Global Advisors.

"Tom and Scott will be valuable additions to ADP's Board and we are excited to welcome them," said John P. Jones, non-executive Chairman of the Board. "The breadth and richness of their business experience will be tremendous assets for us. As the Board anticipates a return to a smaller 10-member Board over time, we believe these appointments reflect ADP's longstanding commitment to thoughtfully bringing in fresh perspectives, and we look forward to the insights and contributions that Tom and Scott will bring to ADP."

"Working with our Board, the ADP management team is focused on executing on our ongoing transformation strategy and driving sustainable long-term shareholder value," said Carlos Rodriguez, President and Chief Executive Officer. "The Board and management are both actively engaged with our shareholders, and we look forward to maintaining our strong collaboration."

Before becoming CEO of TE Connectivity Ltd., Mr. Lynch was President of Tyco Engineered Products and Services since joining Tyco International in September 2004. Prior to that, he served as Executive Vice President of Motorola and President and Chief Executive Officer of Motorola's Personal Communications sector. In addition to TE Connectivity Ltd., Mr. Lynch is currently a director of Cummins Inc. and Thermo Fisher Scientific Inc. Mr. Lynch holds a Bachelor of Science in Commerce from Rider University.

Before joining State Street, Mr. Powers was the President and Chief Executive Officer of Old Mutual Asset Management, the U.S.-based global asset management business of Old Mutual plc. He also held executive roles at Mellon Institutional Asset Management and Boston Company Asset Management. Mr. Powers is currently a director of PulteGroup, Inc. and Sun Life Financial Inc. He holds a Bachelor of Arts in Economics from Harvard College.

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Safe Harbor Statement
This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is designed to" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or privacy breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions and divestitures. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2017 should be considered in evaluating any forward-looking statements contained herein.

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SOURCE ADP, LLC