iiPay Announces CEO Transition

T. Curtis Holmes Appointed CEO and Joins Board of Directors

DALLAS and CHELTENHAM, England, Nov. 30, 2022 /PRNewswire/ -- Integrated International Payroll (iiPay), a market leader in cloud-based global payroll solutions, announced that T. Curtis Holmes has been appointed CEO and a member of the Board of Directors effective November 1^st.  Holmes succeeds Bob Foster who previously served as CEO.

Holmes is a proven executive leader with a strong track record of success.  Prior to this appointment, he served as Chief Operating Officer of iiPay for the past six years.  In this role, he provided strategic and operational leadership for the key operating roles including the accelerated global sales growth, product transformation, professional services, and client service delivery.  During this period, the company increased its contracted annualized revenues by 10x achieving a 52% compound annual growth rate. This is due to winning significant new enterprise, mid-market and small clients while retaining existing clients at rates beyond the industry norms.  Prior to iiPay, Holmes served in executive roles including CEO, President, and COO, of a publicly traded and privately held company where he demonstrated strategic and operational leadership including experience in strategic M&A initiatives.

"This transition promises an exciting future for iiPay and its employees. The combination of extraordinary talent, innovative technology, and focus on exceptional client journey highlights its increasing leadership in the global payroll market.", stated Ed Olkkola, Managing Director, Teakwood Capital, and Chairman of iiPay.

Holmes stated, "I am honored to serve as CEO and to lead an amazingly talented team who is committed to changing the payroll experience for global clients and making the complex simple. Payroll is about people and iiPay has made tremendous progress.  We are now entering the next phase of our journey where we enhance our edge on technology innovation, intensify our focus on excellent client experience, and accelerate our path to profitable revenue growth."

Holmes continued, "On behalf of the Board, we thank Bob for his many contributions and outstanding commitment to the success of iiPay. We wish Bob success in his future endeavors."

About iiPay

iiPay leverages its' innovative, cloud-based technology offering clients an exceptional payroll experience in more than 170 countries. iiPay's solution empowers Payroll, HR, and Finance professionals with advanced data management, analytics, business intelligence, and reporting across all global payroll at any time. iiPay's relentless focus on service reflects the vision of the company to simplify global payroll – For Business. For People.

About Teakwood Capital

Teakwood Capital is a Dallas, Texas private equity firm. It invests in technology-focused companies that are interested in accelerating growth with expansion capital and top-tier talent. The firm has deep, hands-on operating experience and works closely with portfolio company management teams to create value through organic revenue growth, operational improvements, and sustainable intellectual property. For more information, visit teakwoodcapital.com.

Contact: Sarah Townsend, +44 (0)7536 005151, sarah.townsend@iipay.com