Michael Willis Appointed Chief Executive Officer
01 Mai 2007 - 11:05PM
Business Wire
Westaff, Inc., (NASDAQ:WSTF) a leading provider of staffing
services, announced that Michael T Willis has been elected
President and Chief Executive Officer effective May 1, 2007.
Michael Willis, a prominent staffing industry executive, founded
Talent Tree Inc, a clerical and administrative staffing company in
Houston, TX in 1976. He founded COREStaff, Inc in 1993. In 1995,
COREStaff became a publicly traded company and later began
operating as Metamor Worldwide, Inc, one of the largest national
providers of information technology services. �Westaff is a great
company, and I am very excited about our significant growth
opportunities for the future," said Mr. Willis. Simultaneously,
Westaff announced that Trish Newman resigned her position as
President and Chief Executive Officer. Ronald D. Stevens, Vice
Chairman of the Board, explained �Trish Newman did an outstanding
job adding value during her two year tenure. In those two years,
the price of the company�s stock increased substantially and she
led the company to a point where the principal shareholders were
able to gain liquidity for their large stock position. Under her
leadership Westaff launched new service lines in the U.S.,
including Permanent Placements, which was substantially profitable
in its first year of operations, and West-Tek, an independent IT
branch network.� Trish Newman will stay on for a transition period
in an interim capacity as a consultant and advisor to the company
to assist the new management team. Michael Willis, together with
H.I.G. Capital LLC, through its affiliates, acquired 8,262,696
shares of Westaff common stock in February 2007, amounting to
approximately 49.7% of the company�s common stock About Westaff
Westaff provides staffing services and employment opportunities for
businesses in global markets, servicing more than 15,000 client
accounts from more than 230 offices located throughout the United
States, the United Kingdom, Australia and New Zealand. Westaff
provides client companies with 125,000 temporary and permanent
placement employees annually in the areas of administration, call
centers and light industry. For more information, please visit our
Web site at www.westaff.com. This press release contains
forward-looking statements as defined in the Securities Exchange
Act of 1934, and is subject to the safe harbors created by law.
Forward-looking statements contained herein include, but are not
limited to, statements regarding the Company's future growth,
profitability, expansion in key markets, and the significance of
any change in managerial personnel to the Company's ability to
achieve any of these goals. Forward-looking statements are based on
the beliefs and assumptions of the Company's management and on
currently available information. The Company undertakes no
responsibility to publicly update or revise any forward-looking
statement. Additional information concerning the risks and
uncertainties listed above, and other factors you may wish to
consider, is contained in the Company's filings with the Securities
and Exchange Commission, including the Company's most recent Form
10-K, Form 10-Q, Form 8-K and other filings.
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