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WALNUT CREEK, CA, Monday, August 15, 2005 —
Westaff, Inc. (NASDAQ: WSTF), a leading provider of staffing services, today announced it is combining multiple U.S. regions under the leadership of Regional Vice President Greg Sulentic. In his expanded role, Sulentic will be responsible for branch operations in Iowa, Kansas, Nebraska, Minnesota, Oklahoma, Wisconsin and the Carrollton, Texas area.
Sulentic's new role coincides with the introduction of several restructuring, growth and performance enhancement measures designed to streamline Westaff's operations and organizational structure, improve profitability and support long-term expansion in the United States.
"I'm very pleased that we have someone of Greg's caliber to lead this important market," said Trish Newman, President and Chief Executive Officer of Westaff. "By developing strong customer relationships and growing Westaff operations over the past five years, Greg has proven himself to be a very capable leader."
Prior to assuming his new role, Sulentic was responsible for Westaff's Plains Region. The restructure expands Sulentic's territory to include the North Central U.S. District, creating one of Westaff's largest regions in the country.
"I'm thrilled to have the opportunity to lead the new, expanded Plains Region," said Sulentic. "My primary goal is to help the entire region build long-term business partnerships. The new organizational structure will allow us to do that more effectively than ever before."
Westaff provides staffing services and employment opportunities for businesses in global markets. Westaff annually employs approximately 150,000 people and services more than 15,000 client accounts from more than 230 offices located throughout the United States, the United Kingdom, Australia and New Zealand. 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, the statements regarding revenue and the prospects for fiscal 2005. The forward-looking statements contained herein involve a number of assumptions, risks and uncertainties. Actual results could differ materially from estimates. Among the factors affecting future operating results are: credit facilities and compliance with debt covenants, liquidity, workers' compensation collateral requirements, possible adverse effects of fluctuations in the general economy, variability of employee-related costs including workers' compensation liabilities, a highly competitive market, control by a significant shareholder, the volatility of the Company's stock price, reliance on management information systems, risks related to customers, variability of operating results and the seasonality of the business cycle, reliance on executive management, risks related to international operations, risks related to franchise agent and licensed operations, uncertain ability to continue and manage growth, reliance on field management, employer liability risks and ability to attract and retain the services of qualified temporary personnel and regulatory mandates, including potential mandated health insurance.
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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