Volt Information Sciences, Inc. (“Volt” or “the Company”)
(NYSE-MKT:VISI), an international provider of staffing
services, today announced that William J. Grubbs, President and CEO
of Cross Country Healthcare (Nasdaq:CCRN), and Arnold Ursaner, the
founder of independent securities research firm CJS Securities,
have been nominated to stand for election to the Company’s Board of
Directors at the 2017 Annual Meeting of Shareholders. Volt also
announced that current Director, John Rudolf, has retired from the
board effective February 23, 2017, and Bill Grubbs has been
appointed to fill the vacancy. In addition, current Director James
Boone will be stepping down in June.
“We are very pleased to announce the immediate addition of Bill
Grubbs to our board and the nomination of Bill and Arnie as
independent directors,” said Chairman Dana Messina. “Bill is a
seasoned executive with a proven track record in the staffing
services industry that will prove valuable as the Company focuses
intensely on its continued turnaround initiatives and growth
opportunities. Arnie has had a long and successful career on Wall
Street as a business services research analyst and investor, and
will bring to the board his significant financial markets
experience, investment acumen, and investor and market perspective.
With these two additions, the collective skill set of Volt’s board
has been further enhanced and we look forward to capitalizing on
this as we continue to position the Company for growth and create
value for our shareholders. On behalf of my colleagues on the board
and senior management, we look forward to working with Bill and
Arnie as we pursue our growth and profit objectives.”
CEO and director Michael Dean, commenting on John Rudolf’s
decision to step down, stated, “John has been a positive catalyst
for change at Volt. His involvement two years ago came at a
critical time for the Company and proved invaluable to helping
create a board dedicated to growing revenue and future
profitability, the keystones to enhancing shareholder value. Jim
Boone has been a tireless advocate for Volt and its shareholders,
and we appreciate his many contributions.” Mr. Messina added, “The
board extends its sincere gratitude to both John and Jim for their
outstanding service. All of us have been honored to serve
along-side them and wish them the best in their future
endeavors.”
John Rudolf commented, “I am pleased at the significant progress
that has been made over the past nearly two years in the turnaround
effort led by the new management team and new board. Challenges and
much work still remain to achieve the goals for the success of all
of Volt’s stakeholders: shareholders, employees, customers, the
management team and the board. The progress achieved to date allows
me to step down from the board so that I can devote more time to my
other business and personal and family activities, which I know is
true for Jim as well. The addition of the significant talent and
skill sets of Bill Grubbs and Arnie Ursaner is very timely as the
Company moves into the next stage of its turnaround, and I am
confident their addition will benefit all shareholders.”
Jim Boone added, “Volt has made excellent progress on its
strategic efforts. A lot of work by everyone has gone into building
a foundation for future success. I take pride in having been part
of a board that put in place a new management team that has created
a renewed spirit and a positive, growth-oriented culture at Volt. I
look forward to the Company’s continued success.”
Bill Grubbs brings more than 30 years of experience to the
Company and currently serves as President, Chief Executive Officer
and a director of Cross Country Healthcare, a Nasdaq-listed company
that specializes in healthcare workforce solutions. Prior to this,
Mr. Grubbs was Executive Vice President and Chief Operating Officer
of Trueblue, Inc., a leading provider of specialized workforce
solutions, and also held various senior executive positions with
staffing services provider, SFN Group, Inc., including Executive
Vice President and Chief Operating Officer.
Arnie Ursaner has over 35 years of broad investment industry
experience with senior positions at Bear Stearns, First Boston and
Smith Barney. Mr. Ursaner was the founder and president of CJS
Securities, Inc. In this capacity, he oversaw the strategy and
growth of the company, which specialized in providing in-depth,
fundamental research on small and mid-cap companies. He was awarded
the Best on the Street Award for General Industrial Services in
2003, Best on the Street Award for Business Services in 2006 and
the Wall Street Journal Starmine award for #1 Rated Analyst in
Business and Industrial Services.
About Volt Information Sciences, Inc.
Volt Information Sciences, Inc. is a global provider of staffing
services (traditional time and materials-based as well as
project-based), managed service programs and technology outsourcing
services. Our staffing services consists of workforce solutions
that include providing contingent workers, personnel recruitment
services, and managed services programs supporting primarily
professional administration, technical, information technology,
light-industrial and engineering positions. Our managed service
programs consist of managing the procurement and on-boarding of
contingent workers from multiple providers. Our technology
outsourcing services provide pre and post production development,
testing and customer support to companies in the mobile, gaming,
and technology devices industries. In addition, we provide
information technology infrastructure services which provide
server, storage, network and desktop IT hardware maintenance, data
center and network monitoring and operations. Our complementary
businesses offer customized talent, technology and consulting
solutions to a diverse client base. Volt services global industries
including aerospace, automotive, banking and finance, consumer
electronics, information technology, insurance, life sciences,
manufacturing, media and entertainment, pharmaceutical, software,
telecommunications, transportation, and utilities. For more
information, visit www.volt.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to a number of known and unknown risks, including, among
others, general economic, competitive and other business
conditions, the degree and timing of customer utilization and rate
of renewals of contracts with the Company, and the degree of
success of business improvement initiatives that could cause actual
results, performance and achievements to differ materially from
those described or implied in the forward-looking statements.
Information concerning these and other factors that could cause
actual results to differ materially from those in the
forward-looking statements are contained in company reports filed
with the Securities and Exchange Commission. Copies of the
Company’s latest Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q, as filed with the Securities and
Exchange Commission, are available without charge upon request to
Volt Information Sciences, Inc., 1133 Avenue of the Americas, New
York, New York 10036, Attention: Shareholder Relations,
212-704-7921. These and other SEC filings by the Company are also
available to the public over the Internet at the SEC’s website at
http://www.sec.gov and at the Company’s website at
http://www.volt.com in the Investor & Governance section.
Additional Information and Where to Find It
Although not intended to so constitute, the foregoing may be
deemed to be solicitation material in respect of the solicitation
of proxies from shareholders for the Company’s 2017 Annual Meeting.
The Company will file with the U.S. Securities and Exchange
Commission (the “SEC”) and make available to its shareholders a
proxy statement containing information about the Company, its
directors, nominees and certain executive officers and the matters
to be considered at the 2017 Annual Meeting. SHAREHOLDERS ARE URGED
TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR
SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE
COMPANY MAY FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders will also be
able to obtain the proxy statement, as well as other filings
containing information about the Company, without charge at the
SEC’s website (http://www.sec.gov) and at the Company’s website
(www.volt.com). Shareholders will be able to obtain printed copies
of these documents without charge by requesting them online
(www.volt.com) or in writing from the Volt Information Sciences,
Inc., 2401 N. Glassell Street, Orange, California 92865; Attention:
Corporate Secretary.
The Company, its directors, nominees and certain executive
officers may be deemed to be participants in the solicitation of
proxies from the Company’s shareholders in connection with the 2017
Annual Meeting. Additional information regarding the interests of
such potential participants, and their direct or indirect
interests, by security holdings or otherwise, will be included in
the Company’s proxy statement to be filed with the SEC in
connection with the 2017 Annual Meeting. This information can also
be found in the Company’s proxy statement for its 2016 Annual
Meeting of Shareholders, which was filed with the SEC on February
29, 2016. To the extent that holdings of the Company’s securities
have changed since the amounts printed in the proxy statement for
its 2016 Annual Meeting of Shareholders, such changes have been or
will be reflected on Statements of Change in Ownership on Form 4
filed with the SEC. Mr. Grubbs, who has been nominated by the board
to stand for election as a director at the 2017 Annual Meeting,
does not own any shares of the Company’s common stock.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170224005170/en/
Investor Contacts:Volt Information Sciences,
Inc.voltinvest@volt.comorAddo Investor RelationsLasse
Glassen424-238-6249lglassen@addoir.com
Volt Information Sciences (AMEX:VISI)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Volt Information Sciences (AMEX:VISI)
Historical Stock Chart
Von Jul 2023 bis Jul 2024