Former Adecco North America CFO Brings Extensive Global Public Company Experience in the Talent Solutions Industry
NEW YORK, May 31, 2013 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq:HSON), a leading global talent solutions company, today announced the appointment of Stephen A. Nolan as Executive Vice President and Chief Financial Officer (CFO). Most recently, Mr. Nolan served as CFO of Adecco Group North America, a division of Adecco S.A., a global workforce solutions leader. Mr. Nolan succeeds Mary Jane Raymond, who has served as Executive Vice President and CFO of Hudson since 2005, and has decided to resign to pursue other opportunities.
"Mary Jane has been a highly valued contributor at Hudson over the past seven years," said Manuel Marquez, the Company's Chairman and Chief Executive Officer. "She played a critical role as we aligned our business units globally, drove significant operational efficiencies, and enhanced our digital presence over the last several years. We greatly appreciate her contributions to Hudson."
Mr. Marquez continued, "We are delighted that Stephen has agreed to step into this important role and help accelerate our strategic transformation, building on the significant progress we've made as we work to deliver consistent, strong value to our customers and shareholders. Stephen brings exceptional financial and operational acumen from his 30-year career, and in particular his eight years at Adecco. He has a proven track record of helping improve the growth and profitability of complex global operations, and a reputation as an adept collaborator and effective team leader. His experience and expertise will be invaluable as we continue to execute our plan to become a world-class global provider of talent solutions."
Ms. Raymond said, "Over the past seven years I am proud to have helped the Company improve its operations and gain efficiencies across Hudson's global platform. I've enjoyed working closely with Manolo and everyone at Hudson. With the company poised for its next stage of growth, it is now an appropriate time for me to pursue other opportunities."
"I am excited to join the talented team at Hudson," said Mr. Nolan. "Manolo has established a strong culture of performance at Hudson and has the company on the right track toward sustainable, strong performance. This is an exciting time at Hudson, and I intend to help build on that foundation and deliver enhanced value for clients and shareholders in the near and long-term."
Mr. Nolan has more than 30 years of experience in finance, operations and strategic planning. From 2004 to 2012 he served as CFO at Adecco Group North America, a $5 billion division of the global workforce solutions company, Adecco S.A. At Adecco, Mr. Nolan transformed the back office, improving the effectiveness and realized significant efficiencies in the operations of the unit. He also successfully managed the integration of MPS, a public staffing company, and of LHH and DBM, to create the world's largest outplacement firm. Previously, Mr. Nolan served as CFO North America for DHL Global Forwarding, a $1.5 billion logistics company. Prior to that he served in a variety of finance and strategic development roles, including 15 years at Reckitt Benckiser Inc., a global household, health and personal care products company.
Hudson is a global talent solutions company with expertise in leadership and specialized recruitment, contracting solutions, recruitment process outsourcing, talent management and eDiscovery. We help our clients and candidates succeed by leveraging our expertise, deep industry and market knowledge, and proprietary assessment tools and techniques. With more than 2,000 people in approximately 20 countries, and relationships with millions of specialized professionals, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. More information is available at www.hudson.com
This press release contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions' that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations; risks related to fluctuations in the company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the company at any time; competition in the company's markets; risks associated with the company's investment strategy; risks related to international operations, including foreign currency fluctuations; the company's ability to implement cost reduction initiatives effectively, including the recently announced restructuring program; the company's dependence on key management personnel; the company's ability to attract and retain highly skilled professionals; risks in collecting the company's accounts receivable; the negative cash flows and operating losses that the company has experienced from time to time in the past may reoccur in the future; restrictions on the company's operating flexibility due to the terms of its credit facilities; the company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to our dependence on uninterrupted service to clients; the company's exposure to employment-related claims from both clients and employers and limits on related insurance coverage; volatility of the company's stock price; the impact of government regulations; and restrictions imposed by blocking arrangements. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: David F. Kirby
Hudson Global, Inc.