PRGX Global, Inc. Announces Appointment of New Senior Vice President & Chief Commercial Officer
May 10 2017 - 4:37PM
PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit
and Spend Analytics services, today announced that Daryl Rolley has
been named Senior Vice President & Chief Commercial Officer,
responsible for the Company’s growth initiatives, including all
sales, marketing and adjacent services activities for the Company.
Mr. Rolley has a rich and relevant history of executive leadership.
From 2004 to 2012, he was a senior member of the Ariba, Inc.
management team rising to the position of Senior Vice President
& General Manager – Worldwide Sales. Most recently, Mr. Rolley
served as Executive Vice President & Chief Revenue Officer of
RealPage, Inc., a property management software solutions provider,
and prior to that he was Executive Vice President & General
Manager at Ventyx, Inc., a software solutions provider. Mr. Rolley
began his career at The BFGoodrich Chemical Company and also served
as Vice President - Business Development at Ventro Corporation and
as an Engagement Manager for McKinsey & Company.
“We are delighted to have Daryl join PRGX,” said Ron Stewart,
President and Chief Executive Officer. “We are eager to
leverage his significant leadership, sales, marketing and
technology experience as we continue to execute our transformation
strategy and drive the performance of our Company for all our
stakeholders.”
In connection with Mr. Rolley’s employment,
on May 8, 2017, the Company granted equity awards to Mr.
Rolley consisting of 24,000 shares of restricted stock, 36,000
performance-based restricted stock units (PBUs), and options to
purchase 150,000 shares of the Company's common stock. The
restricted stock and options will vest in equal one-third
increments on each of May 8, 2018, May 8,
2019 and May 8, 2020, subject to Mr. Rolley’s continued
employment with the Company. The options have an exercise price of
$6.35. The PBUs vest and become payable based on revenue from
continuing operations and adjusted EBITDA from continuing
operations that the Company achieves for the two year performance
period ending December 31, 2018. The terms of the PBUs are
consistent with the terms of the PBUs granted to the Company’s
executive officers on March 30, 2017. The restricted stock, options
and PBUs also vest in full in the event of a change in control of
the Company, provided Mr. Rolley remains continuously employed by
the Company until such event.
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. Rolley 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. 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 spend analytics and supplier information
services businesses. 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 16,
2017. 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.
Ron Stewart, President and Chief Executive Officer
770.779.3900
600 Galleria Parkway, Suite 100
Atlanta, GA 30339
PRGX Global (NASDAQ:PRGX)
Historical Stock Chart
From Mar 2024 to Apr 2024
PRGX Global (NASDAQ:PRGX)
Historical Stock Chart
From Apr 2023 to Apr 2024