Paychex Chairman joins Cintas with expertise in B2B technological innovation and digital transformation

CINCINNATI–(BUSINESS WIRE)–$CTAS—Cintas Corporation (Nasdaq: CTAS) today elected Martin “Marty” Mucci to its Board of Directors, effective immediately. Mucci’s appointment expands the size of Cintas’ Board to 10 Directors.

Mucci is currently Chairman of the Board at Rochester, N.Y.-based Paychex, Inc., following his October 2022 retirement as the company’s CEO. In his 12 years as CEO, Mucci led Paychex’s transformation from a payroll services company into a leading customer-driven, technology-enabled service company. Paychex’s digital innovation significantly expanded HR solutions available to its more than 730,000 small- to medium-sized business customers with the introduction of its software-as-a-service, cloud-based and mobility capabilities that further supported its world-class personalized service.

Prior to joining Paychex in 2002, Mucci was the former President and CEO of Rochester-based Frontier Telephone, a division of Frontier Corporation where he spent a total of 21 years.

“Marty has a deep understanding of B2B services, and his leadership transforming Paychex into a data-focused, technology-driven industry leader will provide a valuable perspective for our Board,” said Scott D. Farmer, Cintas Executive Chairman. “Under Marty’s leadership, the culture at Paychex is similar to Cintas’ culture. We look forward to his contributions and leadership as we continue to grow our customers’ digital experience and expand Cintas’ position as the leader in the business services industry.”

An independent member of Cintas’ Board, Mucci will serve on the Audit Committee and the Nominating and Corporate Governance Committee. In addition to Paychex’s Board, on which he has served since 2010, Mucci also sits on the Board of NCR Corporation, which provides digital consulting services and products to connected businesses.

>> Media Use Asset via Dropbox: Martin Mucci Headshot (.jpg)

About Cintas Corporation

Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.

Contacts

Media Contacts:
Michelle Goret, Cintas Vice President of Corporate Affairs | goretm@cintas.com, 513-972-4155

Lizz Summers, Cintas Director of Corporate Affairs | summerse2@cintas.com, 513-972-2859

Investor Relations Contacts:
Mike Hansen, Cintas Executive Vice President and CFO | hansenm@cintas.com, 513-972-2079

Paul Adler, Cintas Vice President and Treasurer | adlerp@cintas.com, 513-972-4195

CALGARY, Alberta–(BUSINESS WIRE)–#albertarealestate–Hope Street Real Estate Corporation, an industry leading tenancy management firm specializing in residential rental management releases Spring 2023 report on Alberta’s private rental markets showing further increases in residential rental rates throughout the province, and further decreases in residential vacancy rates.

Edmonton area private Landlords observed the greatest gain with an average increase of 26% in asking prices for rental homes over the past 6 months. The average rental rate, blended for all types of advertised homes and condos in the metro Edmonton region, was $1764 per month at the March 2023 dataset. This amount represents a 26% rise over the past 6 months as the average rental rate in September of 2022 was $1326.

Similarly, Calgary area rental homes have seen moderate price appreciation with the average rental rate, blended for all types of advertised rental homes and condos, reaching $2210 per month at the March 2023 dataset. This amount represents a 18% rise in the past 6 months as the average rental rate in September of 2022 was $1812.

Calgary and Edmonton’s rental vacancy rates also edged down during the sample period to 2.1% in Edmonton and 1.1% in the greater Calgary area.

According to Shamon Kureshi, Hope Street’s CEO and the report’s lead author,

“…Rental rates in Alberta continue to rise, largely due to an increase in demand from inward provincial migration and increasingly strict mortgage lending rules.”

Hope Street Real Estate Corporation is an industry leading team of property management professionals serving the Edmonton, Calgary, and Vancouver markets. Hope Street has about 50 team members and directly manages the tenancies of nearly 3600 people in Alberta’s major centers or surrounding communities.

Contacts

For media inquiries or further comment on this release:

Shamon Kureshi, President & CEO

Hope Street Real Estate Corporation

24/7 mobile: 403-462-6200

shamon@HopeStreet.ca