ADP Sends Letter to Stockholders and Releases Video Featuring CEO Carlos Rodriguez and Chairman John Jones

ROSELAND, NJ--(Marketwired - Oct 18, 2017) -  ADP (NASDAQ: ADP) today sent a letter to stockholders urging them to vote on the WHITE proxy card to re-elect all of the Company's 10 highly qualified and experienced directors at ADP's November 7 Annual Meeting of Stockholders. The Company also released a video featuring Chief Executive Officer Carlos Rodriguez and Chairman of the Board John Jones highlighting ADP's strong track record, ongoing technology transformation, and successful execution of its strategy to deliver sustainable value to shareholders. Click here to view the video, and visit VoteADP.com to view the shareholder letter and other information. 

"ADP plays a critical role in the U.S. and global economy -- we pay 1 in 6 American workers and approximately 14 million international workers. Annually, we move approximately $1.85 trillion on behalf of our 700,000 clients around the world and remit 25% of all taxes the IRS collects from U.S. employers. Given the tremendous daily impact we have on the lives of so many, managing risk is of paramount importance to us -- and we believe our risk tolerance is one of the key ways in which our views differ from those of Pershing Square."

"ADP has delivered significant shareholder value that has outperformed the S&P 500 on a 1-, 3-, and 5-year basis -- and has demonstrated a strong commitment to return cash to investors through dividend growth and share repurchases. We remain confident that our Board possesses the right qualifications -- including an effective balance of leadership continuity and fresh perspectives -- to continue our strong track record of shareholder value creation and uphold our commitments to all of our stakeholders."

"Pershing Square's nominees, by contrast, have no technology or human capital management experience, both of which are critical to the future of ADP. Mr. Ackman also has not articulated any specific plans for how he would achieve the massive margin increases he has targeted."

"Pershing Square owns 2% of ADP's common shares but is seeking 30% of ADP's Board seats. The Board is concerned that Pershing Square's risky call for a rapid acceleration in ADP's already-healthy margins demonstrates a fundamental lack of understanding of what makes ADP successful in achieving its growth objectives, winning new business, and maintaining client satisfaction -- all of which contribute to generating long-term shareholder value," said John P. Jones, Non-Executive Chairman of the Board.