PRGX Announces Appointment of New Chief Financial Officer
“I would like to thank Pete for stepping into the interim role and assisting us during our search for a new CFO. We wish him the very best,” said
“I am excited to welcome Kurt to the PRGX executive team. His financial expertise and experience in numerous software and technology companies will serve PRGX and our stakeholders well as we continue on our growth trajectory,” concluded Stewart.
Mr. Abkemeier joins PRGX from
In connection with Mr. Abkemeier’s employment and consistent with the terms of his employment agreement, the Company expects to grant equity awards today to Mr. Abkemeier consisting of 32,000 shares of restricted stock, 12,000 performance-based restricted stock units (PBUs), and options to purchase 100,000 shares of the Company's common stock. The restricted stock and options will vest in equal one-third increments on each of
The grants were approved by the Compensation Committee of the Company's Board of Directors, which committee is comprised solely of independent directors, and were granted as an inducement material to Mr. Abkemeier entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
PRGX Global, Inc. is a global leader in Recovery Audit and Spend Analytics services. With over 1,500 employees, the Company serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 25% of the top 50 companies in the Fortune 500. PRGX delivers more than $1 billion in cash flow improvement for its clients each year. The creator of the recovery audit industry more than 40 years ago, PRGX continues to innovate through technology and expanded service offerings. In addition to Recovery Audit, the Company provides Contract Compliance, Spend Analytics and Supplier Information Management services to improve clients’ financial performance and manage risk. For additional information on PRGX, please visit www.prgx.com.
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company's overall condition and growth prospects and the Company’s execution of its business strategy. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company's future performance include revenue that does not meet expectations or justify costs incurred, the Company's ability to develop material sources of new revenue in addition to revenue from its core recovery audit services, changes in the market for the Company's services, the Company's ability to retain and attract qualified personnel, the Company's ability to integrate recent and future acquisitions, uncertainty in the credit markets, the Company's ability to maintain compliance with its financial covenants, client bankruptcies, loss of major clients, and other risks generally applicable to the Company's business. For a discussion of other risk factors that may impact the Company's business, please see the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligation or duty to update or modify these forward-looking statements.
CONTACT: PRGX Global, Inc.
Ron Stewart, President & CEO
600 Galleria Parkway, Suite 100
Atlanta, GA 30339
Source: PRGX Global, Inc.