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CloudPay Expands Board of Directors With Addition of Business Development Expert

Michael Patsalos-Fox Brings Extensive Business and Consulting Experience to Help Guide Company's Strategic Growth

RALEIGH, NC and LONDON -- (Marketwired) -- 07/03/13 -- CloudPay, the pioneer of SaaS-based payroll automation for multinationals, today announced that global business leader Michael Patsalos-Fox has joined the company's Board of Directors. Patsalos-Fox will help steer the direction of CloudPay's growth and innovation as the company continues to lead the cloud-based global payroll space and develop innovative solutions that enhance the way multi-national organizations manage their payroll operations worldwide.

Patsalos-Fox leverages a highly accomplished career in business development, having held leadership positions with McKinsey & Company for more than three decades. In addition to serving on the Operating Committee and elected board, he has led the organization's Americas region, satellite offices and North America Corporate Finance and Strategy practice. From 2009 through June 2012, he led McKinsey's new global data and software growth opportunities. Patsalos-Fox has lived in Australia, Switzerland, the U.K. and the U.S., and he holds a B.Sc. in computer sciences and pure mathematics from Sydney University in Australia and an MBA with distinction from the International Institute of Management Development (IMD), Lausanne, Switzerland.

Patsalos-Fox's unrivaled business and consulting expertise is widely sought after by today's most innovative companies. In addition to his new role on CloudPay's Board of Directors, he also serves as director of Cognizant Technology Solutions Corporation (NASDAQ: CTSH), Quid.com and Channel Insight.

"CloudPay recognizes the great opportunity and expanded capabilities that cloud computing has brought to key business processes, such as the global payroll function. Through its cutting-edge, SaaS technology, the company has greatly facilitated the way multi-national organizations manage and control payroll across their enterprises," said Patsalos-Fox. "I am honored to join CloudPay's Board of Directors and look forward to taking an active role in guiding the company's truly pioneering vision as it delivers greater efficiencies and drives innovation in the payroll field."

"Throughout his distinguished career, Michael has acquired a great deal of industry knowledge and developed an expansive network of resources that will helps us further position CloudPay as the leading provider of global payroll solutions," said Andrew Pearson, CEO of CloudPay. "We are pleased to welcome him to our team and look forward to leveraging his expert insight to continue providing innovative services and solutions that help our clients solve their biggest global payroll challenges."

About CloudPay
CloudPay's pioneering Software as a Service technology and extensive payroll expertise helps organizations streamline global payroll operations, increase efficiencies and benefit from unprecedented business insight and intelligence. Recognized by Gartner as a Cool Vendor and by Everest Group as a Major Contender in Multi-Country Payroll Outsourcing, CloudPay is setting the standard for multi-national payroll management. For more information about CloudPay, please visit www.cloudpay.net or visit us on Twitter at CloudPay.

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