Volt Information Sciences Announces Leadership Changes
07 Juni 2018 - 1:29AM
Business Wire
Volt Information Sciences, Inc. (“Volt” or the “Company”)
(NYSE-AMERICAN: VISI), an international provider of staffing
services and managed service programs, announced today that
President and Chief Executive Officer Michael Dean is leaving the
Company and the Board, effective June 6, 2018. The Company also
announced that Linda Perneau has been appointed Interim Chief
Executive Officer, in addition to her current role as President of
Volt Workforce Solutions.
Chairman Dana Messina commented, “Michael has been an invaluable
leader for the last three years. I have enjoyed working closely
with Michael and applaud his accomplishments. He initially served
as Chairman of the Board, but later stepped into the CEO role. He
has strengthened the organization at every level, adding key
leadership talent, monetizing many non-core assets, dramatically
improving our balance sheet, investing in infrastructure, and
laying the foundation for growth in each of our businesses. On
behalf of the Board of Directors and the entire Company, we would
like to thank Michael for his many contributions.” Mr. Messina
added, “Given Michael’s departure, I believe it is also a good time
for me to personally reduce my role on the Board as Volt
transitions to new leadership.”
In connection with this development, Nick Cyprus has been
appointed Chairman of the Board and William Grubbs has been
appointed Vice-Chairman.
The Company also announced the formation of an Executive
Management Committee comprised of Linda Perneau, Paul Tomkins
(Senior Vice President and Chief Financial Officer), Nancy
Avedissian (Senior Vice President and General Counsel), and Ann
Hollins (Senior Vice President and Chief Human Resources Officer).
The Executive Management Committee will be responsible for the
day-to-day operational and corporate management of the Company, and
will report directly to the Board of Directors.
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). Our staffing services consists of workforce
solutions that include providing contingent workers, personnel
recruitment services, and managed staffing services programs
supporting primarily administrative, technical, information
technology, light-industrial and engineering positions. Our managed
staffing programs involves managing the procurement and on-boarding
of contingent workers from multiple providers. Our customer care
solutions specializes in serving as an extension of our customers'
consumer relationships and processes including collaborating with
customers, from help desk inquiries to advanced technical support.
Our complementary businesses offer customer care call centers,
customized talent, and supplier management 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, the impact of management changes, the outcome of the
Company’s previously announced strategic alternatives process, the
outcome of the Company’s turnaround plan, 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. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180606006467/en/
Investor Contacts:Volt Information Sciences,
Inc.voltinvest@volt.comorLasse GlassenAddo Investor
Relationslglassen@addoir.com424-238-6249
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