PRGX Global, Inc. Announces Appointment of New Vice President – Marketing
August 09 2016 - 4:56PM
PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit
and Spend Analytics services, today announced that Robby Gulri has
been named Vice President – Marketing. Mr. Gulri joins the Company
from PreVu Data Predictive Analytics, where he was Chief Marketing
Officer, responsible for product and channel marketing in the
predictive analytics space. Prior to PreVu, Mr. Gulri worked
for Echoworx Corporation, as Vice President of Marketing.
Prior to Echoworx, Mr. Gulri held various marketing, sales
and product management roles with BellSouth Corporation, Yahoo,
Portal Software, Millenium Solutions, Intermedia Corporation, part
of MCI-WorldCom, and Sirius Systems Sales Force Automation
Software.
"We are delighted to have Robby join PRGX and lead our marketing
team. His expertise in product management and marketing will
be a significant asset to PRGX," said Sal DePrima, Senior
Vice President - Growth and Market Development.
In connection with Mr.
Gulri’s employment, on August 3, 2016, the Company
granted an equity award to Mr. Gulri consisting of 10,000
performance-based restricted stock units (PBUs). The PBUs vest and
become payable based on revenue from continuing operations and the
cumulative adjusted EBITDA from continuing operations that the
Company achieves for the two year performance period ending
December 31, 2017. The PBUs also vest in full in the event of a
change in control of the Company, provided Mr. Gulri remains
continuously employed by the Company until such event. Upon
vesting, the PBUs will be settled by the issuance of a number of
shares of Company common stock equal to 40% of the number of PBUs
being settled and the payment of cash in an amount equal to the
fair market value of that number of shares of common stock equal to
60% of the number of PBUs being settled. The PBUs were otherwise
granted on substantially the same terms as the performance-based
restricted stock units granted to the Company’s executive officers
on March 31, 2016.
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. Gulri entering into employment with the Company in
accordance with Nasdaq Listing Rule 5635(c)(4).
About PRGX
PRGX Global, Inc. is a global leader in Recovery Audit and Spend
Analytics services. With over 1,400 employees, the Company
serves clients in more than 30 countries and provides its services
to 75% of the top 20 global retailers and over 20% 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.
Forward-Looking Statements
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, the Company’s
execution of its transformation strategy, and the Company’s
investments in, and opportunities associated with, its growth
platforms, including its supplier information services business.
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, including its Form 10-K filed on March 15,
2016. The Company disclaims any obligation or duty to update or
modify these forward-looking statements.
This news release was distributed by
GlobeNewswire, www.globenewswire.com
CONTACT: PRGX Global, Inc.
Sal DePrima, SVP - Growth & Market Development
770.779.3900
600 Galleria Parkway, Suite 100
Atlanta, GA 30339
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