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WALNUT CREEK, CA, Monday, August 15, 2005 —
Westaff, Inc. (NASDAQ: WSTF), a leading provider of staffing services, today announced the appointment of Jay Pochini as Regional Vice President of the Northeast Region of the United States. In his new position Pochini will be responsible for growing new markets in the region's large metro areas, including Boston, New York City, Philadelphia and Chicago, while strengthening existing markets.
Pochini'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.
"The Northeast Region is an important market and a strategic growth area for Westaff," said Trish Newman, President and Chief Executive Officer of Westaff. "I'm delighted that Jay agreed to accept the new responsibility."
Pochini joined Westaff in 1988 and has held several key positions, including Area Manager, Regional Vice President and Vice President Zone Manager. As Zone Manager, Pochini led Westaff's former Eastern Zone, a high performing territory which extended from Massachusetts, east to the Great Lakes and south throughout the Carolinas, Georgia and Florida.
"This is an exciting time for Westaff," said Pochini. "I'm pleased to be involved, moving the company forward and enhancing its market position. Recent organizational restructuring has provided an excellent opportunity to grow untapped markets, drive revenue and build robust client relationships. I look forward to the challenges ahead and anticipate a period of positive and profitable development."
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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