Acsys, Inc. Announces Reorganization.ATLANTA--(BUSINESS WIRE)--Dec. 1, 1999-- Acsys, Inc. (AMEX AMEX See: American Stock Exchange :AYS AYS At Your Service AYS Are You Sure? AYS Are You Serious? AYS About Your Sexuality (Unitarian Universalist education publication) AYS All You See AYS Andover Youth Services (Andover, MA) ) ("the Company"), a leading specialty professional staffing firm, today announced several management and organizational changes, including the appointment of Chairman of the Board David C. Cooper to the additional position of Chief Executive Officer. Cooper's appointment follows the resignation of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Timothy Mann, Jr. Cooper led the effort to create the Company in 1997 and has served continuously as its chairman throughout its rapid growth. He began his staffing industry career almost 20 years ago in 1980 when he formed David C. Cooper & Associates, an Atlanta-based financial search and staffing firm, which ultimately became one of the largest founding companies of the Company. "Acsys has emerged from an idea in just two years to one of the nation's largest professional staffing firms," added Cooper. "We have successfully integrated 11 companies and now operate under one unified national brand, and have consistently achieved internal growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. at the top of the range for companies within our staffing sector. We continue to redefine Verb 1. redefine - give a new or different definition to; "She redefined his duties" define, delimit, delimitate, delineate, specify - determine the essential quality of 2. our organization to meet the needs of our employees, clients and candidates. As a growing national company, it's essential that we embrace positive change and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. opportunities to position this company for growth in 2000 and beyond." Cooper stated that the Company has restructured its operations into two key business units, Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and Information Technology. This reorganization will streamline and strengthen management and improve operating efficiencies. It will also promote greater focus and synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. within each unit, enabling the Company to better service clients and candidates nationwide. To support the new operating structure, the Company announced several veteran executives now have expanded roles designed to strengthen its operational and financial performance, including: -- Harry J. Sauer, formerly group director for the Company's Northeast division, has been promoted to executive director of professional services, a new management position; -- Chief Financial Officer Brady W. Mullinax Jr. will take on the additional role of executive vice president for finance and administration. Mullinax will add to his responsibilities the management of all corporate office functions that support the Company's field operations, including human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , corporate communications, marketing, information solutions and investor relations; -- Executive Director of Information Technology Ted Weyn will expand his responsibilities to include management of all of the Company's information technology operations Information technology operations, or IT operations, are the superset of all processes and services that are both provisioned by an IT staff to their internal or external and used by themselves, to run themselves as a business. ; -- Jim Rudman has been promoted to group director for the Company's Northeast division, replacing Sauer. Rudman, as group director for the Northeast division, will be responsible for the Company's operations in Pennsylvania, New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Delaware. -- Acsys Information Technology Group Directors and former owners of ICON Search & Consulting, Robert D. Bailey Robert D. Bailey, Jr. (October 12, 1912 - 2001) was West Virginia Secretary of State from 1965 to 1969. He was a graduate of what is now known as Concord University and Washington and Lee University Law School. Born in Baileysville, he was the son of Robert D. Bailey, Sr. , Robert M. Kwatnez and Steven M. Sutton, have left the Company to form a new business venture in Customer Resource Management. Acsys has signed an agreement with the three former owners to supply information technology staffing services to their new organization. -- Beth Monroe Chase, Executive Vice President and National Director of Sales, has left the Company to pursue other interests. The senior management changes will result in a one-time charge in the Company's fourth-quarter results estimated to be $2.2 million. Added Cooper, "I am confident that these changes put our most seasoned professionals in key functional roles to drive the success of our operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon . Harry Sauer was one of the founding members of Acsys and has more than 22 years of experience in professional staffing. Under Harry's leadership, Acsys's Northeast Group has become our largest and most profitable operation. "Brad's expanded corporate role, along with Harry's and Ted's operational leadership, will be invaluable in the continued growth of our core accounting, finance and information technology staffing businesses," said Cooper. "We wish Beth great success in her new endeavors. Beth was one of the founders of Acsys and has contributed significantly to its growth. Her enormous talent, experience, and enthusiasm are respected and appreciated by everyone in the Company, especially me," concluded Cooper. Based in Atlanta, Acsys, Inc. provides professional temporary staffing and permanent placement services in the U.S. The Company's professional services division, specializing in accounting, finance and corporate staffing, provides a broad range of staffing and workforce solutions to Fortune 500, middle-market and emerging growth companies. The Company's information technology (IT) division provides staff augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. and solutions services in the areas of SAP(TM), J.D. Edwards (J.D. Edwards & Company, Denver, CO, www.jdedwards.com) A developer of multinational, integrated enterprise software for distribution, finance, human resources, manufacturing and supply chain management. (R), PeopleSoft, Siebel, e-Commerce and other information technology areas to more than 250 clients throughout the U.S. Acsys has more than 600 employees in 40 offices nationwide with 1998 revenues of $148 million. More information about Acsys can be found on the Internet at www.acsysinc.com. Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. , or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to develop new services; and other factors discussed in Acsys's filings with the Securities and Exchange Commission. |
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