DGAP-News: PRGX Appoints Steve Kingston as Managing Director of Client Services for Its Europe and Asia Pacific Region
(firmenpresse) - PRGX Global, Inc.
25.09.2012 15:45
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ATLANTA, 2012-09-25 15:45 CEST (GLOBE NEWSWIRE) --
PRGX Global, Inc. (Nasdaq:PRGX), the world's leading provider of recovery audit
services and the pioneer in Profit Discovery(TM), announced today that Steve
Kingston has joined the Company to run Client Services for its Europe and Asia
Pacific (EAP) region.
Kingston will be based in Luton, UK and will report to PRGX president and CEO,
Romil Bahl. 'Steve is a seasoned leader in professional services and brings to
bear his experience in building and leading high-performing global teams,' said
Bahl.
In his role, Kingston will oversee all existing client relationships that PRGX
has in the EAP region, as well as drive new business development. Continued
Bahl, 'I could not be more optimistic about the future of our business across
the EAP region, and Steve is exactly the leader who can help ensure we take
advantage of our many opportunities there.'
Kingston joins PRGX from Infosys where among other roles, he was the European
lead partner of the company's consulting business, and the global leader of the
Consulting&Systems Integration Services for the Energy, Utilities,
Communications and Services industry segments. Prior to Infosys, Kingston was a
partner with IBM's Business Consulting unit. He joined Price Waterhouse after
several years in the Oil and Gas industry and became a partner with PwC
Consulting in 1999, before the 2002 acquisition of PwC Consulting by IBM.
'I am excited about the opportunity to join the PRGX Global senior leadership
team, and certainly the opportunity to lead the exciting growth prospects
across Europe and increasingly, across Asia. I look forward to leveraging my
experience of growing professional services practices and world-class teams for
PRGX,' said Kingston.
In connection with Mr. Kingston's employment, on September 24, 2012 the Company
granted equity awards to Mr. Kingston consisting of 45,000 restricted stock
units, as well as options to purchase 45,000 shares of the Company's common
stock with a seven-year term and an exercise price equal to $8.54 per share,
the closing price of the common stock on the grant date. One-third of the
restricted stock units and options vest on each of the first, second and third
anniversaries of the grant date, subject to the employee's continued employment
with the Company over such period. The restricted stock units and options also
vest in full in the event of a change in control of the Company, provided the
employee remains continuously employed by the Company until such event.
The grants were approved by the compensation committee of the Company's board
of directors, which committee is comprised solely of independent directors, and
were granted as an inducement material to the new employee entering into
employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
About PRGX Global, Inc.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world's leading
provider of recovery audit services. With over 1,600 employees, the Company
operates and serves clients in more than 30 countries and provides its services
to over 75% of the top 30 global retailers. PRGX is also pioneering Profit
Discovery, a unique combination of audit, analytics and advisory servicesthat
improves client financial performance. For additional information, please visit
PRGX at www.prgx.com.
Forward-Looking Statements
In addition to historical information, this press release includes certain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements include both implied and express
statements regarding the Company's financial condition and revenue and Adjusted
EBITDA growth, business development efforts, opportunities and growth prospects
in the EAP region, and the success of its growth strategies and expansion into
new markets. Such forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and other factors that may
cause the actual results, performance or achievements of the Company to differ
materially from the historical results or from any results expressed or implied
by such forward-looking statements. Risks that could affect the Company's
future performance include revenues that do not meet expectations or justify
costs incurred, the Company's ability to develop material sources of new
revenue in addition to revenues from its core recovery audit services, changes
in the market for the Company's services, the Company's ability to retain and
attract qualified personnel, changes to Medicare and Medicaid recovery audit
contractor programs, the Company's ability to integrate recent and future
acquisitions, uncertainty in the credit markets, the Company's ability to
maintain compliance with its financial covenants, client bankruptcies, loss of
major clients, and other risks generally applicable to the Company's business.
For a discussion of other risk factors that may impact the Company's business,
please see the Company's filings with the Securities and Exchange Commission,
including its Form 10-K filed on March 15, 2012. The Company disclaims any
obligation or duty to update or modify these forward-looking statements.
CONTACT: PRGX Global, Inc.
Alexandra Gobbi, Vice President, Marketing&Communications
770.779.3900
Robert Lee, Chief Financial Officer
770.779.3900
600 Galleria Parkway, Suite 100
Atlanta, GA 30339
News Source: NASDAQ OMX
25.09.2012 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: PRGX Global, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US69357C5031
WKN:
End of Announcement DGAP News-Service
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