|
Leading Provider of Staffing Services in Top 25 California Companies with Women in Leadership Roles
Walnut Creek, CA, Friday, November 17, 2006 - For the second year in a row, Westaff, Inc. ( NASDAQ: WSTF), a leading provider of staffing services, has been acknowledged by the UC Davis Graduate School of Management for its position as one of the top 25 companies in California for women in leadership roles.
"Westaff has a long history of identifying and developing leadership talent, regardless of gender. Our success and growth is certainly due in some part to the role of women in positions of influence within the organization, but we're a company full of opportunities for both men and women with the drive to succeed," said Westaff President and Chief Executive Officer Trish Newman.
As part of "The UC Davis Study of California Women Business Leaders," Westaff was named for the second year as a leader among the State's top 400 largest publicly traded companies, serving as a role model in using the talents of women in leadership positions.
The annual study revealed that among California's highest revenue producing companies, approximately half have no woman among their senior executives or the boardroom, and almost one-third have only one woman director. In fact, the study shows that women hold only 10.2 percent of the combined board seats and executive officer positions - no change from the first study completed last year.
The corporate recognition acknowledges that nearly 60% of those in supervisory and management roles within the Westaff organization are women, and that Westaff is one of only 11 companies in the top 400 analyzed with a woman as Chief Executive Officer.
The results of the study were presented to a gathering of business leaders at the UC Davis Forum on Women and Leadership in Burlingame, CA earlier today. Ms. Newman, was on hand to deliver the Forum keynote address. In her remarks, she observed that "...faced with a looming talent shortage, when even today companies are struggling to find the skills and leaders they need to meet their business demands, it just doesn't make sense not to tap into the widest talent pool possible - especially at a time when women are earning more than half of the bachelor and master's degrees awarded in the US."
About Westaff
Westaff provides staffing services and employment opportunities for businesses in global markets. Westaff annually employs approximately 125,000 people and services more than 15,000 client accounts from more than 230 offices located throughout the U.S., the United Kingdom, Australia and New Zealand. For more information, please visit our website at www.westaff.com.
While the specific financial terms of the agreement are not being disclosed, for financial reporting purposes this acquisition will not have an impact on reported sales or gross profits for Westaff as franchise agent sales and gross profits are already included in the Company's financial results. However, operating profits generated by the acquired offices will now be included within Westaff's consolidated operating results. Management currently estimates that the acquisition will be accretive to consolidated earnings.
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
|
