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On Assignment, Inc. Announces Management Changes: Chief Executive Officer Joe Peterson Resigns from the Company, Staffing Industry Veteran Peter Dameris Promoted to Position of President and CEO.


CALABASAS, Calif. -- On Assignment, Inc. (Nasdaq: ASGN ASGN Assign ), a leading provider of specialty temporary staff for science and healthcare, today announced the following management changes. Joe Peterson, On Assignment's Chief Executive Officer since 2001, has informed the Board of Directors that he is leaving the Company effective today. Peter Dameris, On Assignment's Executive Vice President and Chief Operating Officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 since November 2003, will assume the position of President and 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. . Mr. Dameris is a staffing industry veteran with extensive executive experience with public companies, including Quanta quan·ta  
n.
Plural of quantum.
 Services Inc. as EVP EVP Executive Vice President
EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor
EVP Electronic Voice Phenomenon
EVP Europäische Volkspartei (Germany)
EVP Employee Value Proposition
 and COO and Metamor Worldwide Inc. as Chairman and CEO.

Joe Peterson commented, "I feel comfortable with the transition at this time knowing that On Assignment's businesses are strengthening, revenues are growing without sacrificing our strong margins, and the Company's balance sheet remains solid. I am pleased with my selection of Peter Dameris to complete the Company's turnaround. With the top notch management team Peter has hired in the last several months, I am leaving the Company in very capable hands."

"We are pleased with the evolution of On Assignment and its management team," said Jeremy Jones Jeremy Jones may refer to: Sports
  • Jeremy Jones (Californian Snowboarder) (1975), Professional Snowboarder since 1991, known for big mountain riding and being sponsored by Rossignolhttp://www.rossignol.com/CN_prod_sno_board_mn_allm_jj.html. He has brown eyes.
, Chairman of the Board of On Assignment, Inc. "In the past year Peter has proven that he is capable of leading the Company as President and CEO. Peter's years of public company and staffing experience will enable us to continue to manage internal operations, exploit opportunities and execute on our priorities. With the senior management team he brought on board continuing to report to him, this should be a seamless transition for the Company. On behalf of the entire Board of Directors, we would like to thank Joe for his leadership over the last three years, which has positioned On Assignment well for the future."

Peter Dameris, President and CEO of On Assignment commented, "The positive trends we are seeing in our business lines are the direct result of steps taken earlier in the year under our Revitalization Plan. As we said previously, the third and fourth quarters of 2004 are important measurement periods for improvements in our revenues, gross profits and staffing consultant productivity as we remain focused on optimizing our income generating capabilities going forward. Our senior management team has over 50 years of specialty staffing industry experience which I believe will serve the Company and its shareholders well."

Dameris continued, "We have experienced solid growth in Lab Support and MF&A during the third quarter of 2004, and Nurse Travel has remained stable. The average number of temporary professionals on billing for the month of September is projected to be at the highest level of any month in 2004." Dameris concluded, "On behalf of the Company and all of our employees, we thank Joe for his contributions over the years."

About On Assignment

On Assignment, Inc. is a leading international science and healthcare temporary staffing company providing services in laboratory support, nursing, and medical, financial and allied healthcare staffing. The corporate headquarters are located in Calabasas, California Calabasas is a city in Los Angeles County, California, in the western United States. As of the 2000 census, the city population was 23,123. The city was formally incorporated in 1991. . On Assignment, Inc. was founded in 1985 as On Assignment/Lab Support and went public in 1992. The company's branch network encompasses 59 branch offices across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the United Kingdom, The Netherlands, and Belgium. On Assignment, Inc.'s common stock is traded on the Nasdaq Stock Market Nasdaq stock market

The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies.
 under the symbol ASGN.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 

Mr. Dameris' statements regarding our financial and operating performance in the third quarter of 2004 are "forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
" within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, and involve a high degree of risk and uncertainty. His statements regarding such performance are based upon estimates and certain assumptions. We will report our actual performance for the full quarter after our financial statements have been reviewed by our internal accounting staff and our independent auditors Independent Auditor

An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report.

Notes:
These auditors aren't affiliated with the company being audited.
. Our actual results might differ materially from our estimates. Factors that might contribute to such differences include: 1) the actual number of employees on temporary assignment during the last two weeks of the third quarter and 2) the hourly billing rates associated with these assignments. We specifically disclaim any intention or duty to update any forward-looking statements contained in this news release.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 27, 2004
Words:700
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