Kelly Services, Inc., (Nasdaq; KELYA, KELYB), today announced the
retirement of Terence E. “Terry” Adderley as chairman of the board.
The board of directors elected Lead Director Donald R. Parfet, to
be its next chairman of the board, effective September 17, 2018.
George S. Corona will continue as president and chief executive
officer of Kelly Services and remain a member of Kelly’s board of
directors. Terry remains the controlling shareholder.
“I am proud to have been a part of Kelly for more than 60 years
and honored to have followed in the footsteps of my father, William
Russell Kelly, who launched the temporary staffing industry,”
Adderley said. “I am confident the company remains in good hands
and that Kelly will continue to grow and prosper under the proven
leadership of both George and Don.”
“It is with a deep sense of gratitude that I thank Terry for his
leadership and guidance over the years,” Corona said. “Terry has
served Kelly with distinction during his tenure, and his presence –
both on the board and as its chairman – will be greatly missed. I
am also proud to work for a company whose values are built on a
tradition of integrity, quality, and service excellence.”
“We are tremendously proud of Terry, who was Kelly’s
longest-serving CEO,” said Parfet. “Terry guided Kelly Services
through a period of significant achievement. The company became a
global leader in the workforce solutions industry, and sales grew
exponentially during his tenure as CEO.
Terry’s love for the business and dedication to its employees
and clients were evident as he continued to apply his considerable
skill and acumen in advancing the company’s business activities
well into his 80s. He also found time to play an active role in
giving back to the community, was a strong supporter of the
University of Michigan and Vanderbilt University, and was an avid
antique car collector. We wish him the best in his very
well-deserved retirement.”
Parfet, Kelly’s lead director since 2012, has extensive
financial and operating experiences as an executive with
responsibilities for numerous global businesses. In addition to his
new role as Kelly’s chairman of the board, Parfet leads business
development and venture capital firms focused on the development of
emerging medicines. He also serves as a director of two large
publicly held companies, and as the chairman of the board of a
small publicly held company. A Kelly board member since 2004,
Parfet has brought global operating experience, a strong financial
background, and proven leadership capabilities to the board.
Adderley, son of the company’s founder, William Russell Kelly,
joined Kelly Services in 1958 as manager of its office in
Louisville, Kentucky. He was elected Vice President of the company
in 1961, Executive Vice President in 1965, President in 1967, and
Chief Executive Officer in 1989. He has served on the company’s
Board of Directors since 1962, was elected Chairman of the Board in
1998, and Executive Chairman and Chairman of the Board in 2012,
dual roles he held until May 2018. Adderley continued to serve as
Kelly’s Chairman of the Board until his retirement.
Throughout his 60+ years with Kelly, Adderley’s commitment to
the company, its employees, and the industry has never wavered. Key
highlights of Adderley’s celebrated career at Kelly include:
Taking Kelly Services Public
Kelly expanded rapidly in the 1950s and early 1960s, growth that
challenged the boundaries of the company’s financial systems and
controls. With Adderley’s strong background in finance, he quickly
recognized that sustained growth demanded stronger financial
controls and he took on the task of reorganizing Kelly’s finance
functions. He then added another level of discipline by taking the
company public in 1962.
Bringing Discipline and Respect to the Staffing
Industry
Temporary staffing was still a relatively new concept in the
late 1940s and 1950s, and U.S. federal and state governments were
struggling with how best to regulate the industry. In response to
abuses caused by some unethical companies, state governments began
to classify temporary service companies as employment agencies;
these businesses were heavily regulated because abuse was prevalent
in that industry. Adderley was concerned that classifying companies
as employment agencies could put Kelly and other staffing companies
out of business, or at a minimum, limit their growth. He worked
alongside representatives from Manpower and other firms to
eliminate these laws and regulations. This work led to the creation
of a national association in 1966 – the Institute of Temporary
Services, now known as the American Staffing Association (ASA).
Adderley served on the ASA board from 1970 to 2005.
In 2006, Adderley was honored with the ASA’s staffing industry
Leadership Hall of Fame Award. In presenting the award, Richard
Wahlquist, ASA president and chief executive officer, said, “Terry
Adderley has been one of the most influential forces in the
staffing industry for more than 40 years. Terry helped build and
shape this association and has consistently been at the forefront
of efforts to protect and advance industry interests.”
Large Company Focus
In the early 1990s, competition had gotten much tougher and
large companies’ use of temporary staff had increased to the point
that it was often a budget line item. No longer could the expense
be ignored and purchasing departments became more involved in the
decision-making. Recognizing that Kelly needed to adapt to these
trends, the Company made a fundamental decision to redirect its
sales and service focus to larger accounts. Adderley led the
initiative to create a new model that would help companies gain
insight into their staffing spend and the companies that were
providing their contingent talent.
A native of Detroit, Michigan, Adderley earned bachelor’s and
master’s degrees in business administration at the University of
Michigan. Prior to joining Kelly Services, he worked in the
treasurer’s department of Standard Oil Company of New Jersey (now
Exxon Mobil Corporation), in New York City.
Throughout his distinguished career, Kelly Services received
numerous awards for its strong commitment to providing workforce
opportunities for women, minorities, veterans, the disabled, and
others. In 2008, he was inducted into the Heritage Hall of Fame by
the International Institute Foundation, and in 2012, he was awarded
the Automotive Lifetime Achievement Award by the Automotive Hall of
Fame.
Adderley served on the boards of the Business Leaders for
Michigan, Detroit Economic Club, William Beaumont Hospital, Oakland
County Business Roundtable, Detroit Country Day School, Citizens
Research Council of Michigan, and the Community Foundation for
Southeast Michigan. He was also a member of the University of
Michigan Ross School of Business Visiting Committee and the
University of Michigan Health System Advisory Group. He formerly
served on the boards of DTE Energy Company, First Chicago NBD
Corporation (now JPMorgan Chase & Co.), and the Detroit
Renaissance Foundation.
About Kelly Services®
As a global leader in providing workforce solutions, Kelly
Services, Inc. (Nasdaq: KELYA, KELYB) and its subsidiaries, offer a
comprehensive array of outsourcing and consulting services as well
as world-class staffing on a temporary, temporary-to-hire, and
direct-hire basis. Kelly® directly employs nearly 500,000 people
around the world in addition to having a role in connecting
thousands more with work through its global network of talent
suppliers and partners. Revenue in 2017 was $5.4
billion. Visit kellyservices.com and connect with us
on Facebook, LinkedIn, & Twitter.
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Media
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Analyst
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Gray R.
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James Polehna |
248.244.4234 |
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248.244.4586 |
gray.reynolds@kellyservices.com |
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polehjm@kellyservices.com |
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