TMP Worldwide Announces Name of New Company to Be Formed Through Spin-Off of eResourcing and Executive Search.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 24, 2003 TMP TMP (thymidine monophosphate): see thymine. Worldwide Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TMPW), the world's leading supplier of human capital solutions, including the pre-eminent Internet career portal Monster(R), today announced the name of the new, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. that will be formed through the spin-off of its eResourcing and Executive Search units. The new staffing and search parent company will be known as Hudson Highland Group, Inc. Under the new parent company, the former eResourcing unit will assume two transitional names: TMP Hudson Global Resources, for the staffing side of its business, and TMP Hudson Human Resource Consulting Services Provided Human Resource Consulting firms provides advice to their clients regarding the financial and retirement security, health, productivity, and employment relationships of their global workforce. , for the consulting side. The former Executive Search unit also will assume a transitional name as TMP Highland Partners. Plans call for all uses of "TMP" within the new company to be phased out over a two-year period. TMP Worldwide will remain a stand-alone corporate entity comprised of Monster, Monstermoving, Advertising & Communications and Directional Marketing. "We've spent considerable time and effort engaging internal and external specialists to arrive at a name that we all believe will best serve as our new corporate identity and enable us to clearly distinguish ourselves within the staffing and search industry," said Jon Chait, Chairman 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. , Executive Search and eResourcing. "Early on we decided that the best naming architecture would consist of two separate divisional names with an implicit link to a corporate name that will serve as our umbrella brand. Understanding that it's virtually impossible to throw a switch and have instant recognition for three completely new brands, we've decided to implement interim names for our core businesses that will be gradually transitioned away from the TMP brand over the course of the next two years." Hudson Highland Group will focus on its core strengths of delivering value to its customer base through traditional executive search, staffing and talent assessment solutions. The combination of these units in a single company will define a new breed of staffing and search enterprise - one that is able to deliver a full spectrum of recruitment, staffing and HR consulting services. It is anticipated that the new company's shares will trade on Nasdaq under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "HHGP HHGP Hudson Highland Group, Inc ." The stock distribution ratio is yet to be determined. About TMP Worldwide Founded in 1967, TMP Worldwide Inc., with more than 8,500 employees in 33 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search & Executive Selection agencies. TMP Worldwide, headquartered in 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 , is also the parent company of Monster, the leading global careers website, the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The Company's clients include more than 90 of the Fortune 100 and more than 490 of the Fortune 500 companies. TMP Worldwide is a member of the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com. Special Note: 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. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference. |
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