WALNUT CREEK, Calif.,
Tuesday, May 1, 2001
Westaff, Inc. (NASDAQ: WSTF),
a leading provider of essential staffing services, today
announced the appointment of Tom Decker Seip to the
position of President and Chief Executive Officer and
Director effective May 1, 2001. W. Robert Stover will
remain as the Chairman of the Board of Directors.
Stover commented, "After
fifty years of leading Westaff, I am extremely pleased
to turn the reins of the company over to a mature, experienced
executive. Tom Seip has been involved in more than twenty
years of providing leadership, building sales programs
and overseeing financial management of a public company.
In him, I see our company's best days ahead of us."
Prior to joining the
company, Mr. Seip was employed by Charles Schwab &
Co. from January 1983 to June 1998 in various capacities,
serving most recently as Chief Executive Officer of
Charles Schwab Investment Management, Inc., the company's
mutual fund subsidiary, and was a member of the Charles
Schwab Management Committee from July 1992 to June 1998.
Mr. Seip was a Vice President and Partner at Korn/Ferry
International from 1977 to 1982. He began his career
as an Executive Recruiter at Merrill Lynch & Co.
Since January 1998, Mr. Seip has been a private investor
with a focus on early stage companies in the financial
services sector.
"I am delighted
to have the opportunity to return to the business of
human capital," said Mr. Seip. "Westaff is
a company with a wonderful past and an even brighter
future. I am honored to be chosen by Bob Stover to help
chart the course for the company's future."
Westaff provides essential
staffing services to and employment opportunities at
competitive businesses in global markets. Westaff annually
employs approximately 270,000 people worldwide and services
approximately 25,000 clients from more than 350 offices
located throughout the U.S., and also in the United
Kingdom, Australia, New Zealand, Norway, Denmark and
Mexico and achieved fiscal 2000 system revenues of over
$700 million. For more information, please visit our
website at www.westaff.com.
This press release
contains forward-looking statements regarding future
events and future performance of the company that involve
a number of risks and uncertainties that could cause
actual results to differ materially. We refer you to
documents that the company files from time to time with
the Securities and Exchange Commission, such as Form
10-K, Form 10-Q and Form 8-K reports, which contain
a description of certain factors that could cause actual
results to differ from current expectations and the
forward-looking statements in this press release.
| ANALYSTS/INVESTORS CONTACT : |
Dirk A. Sodestrom
Senior Vice President and
Chief Financial Officer
Telephone: 925.930.5300
e-mail: dsodestrom@westaff.com |
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| PRESS CONTACT: |
Linda Gaebler
Public Relations Director
925-952-2546, cell: 510-610-4845
e-mail: lgaebler@westaff.com |
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