Staffing 360 Solutions Announces CFO Transition
September 16 2019 - 8:38AM
Staffing 360 Solutions, Inc. (NASDAQ: STAF), a company executing an
international buy-integrate-build strategy through the acquisition
of staffing organizations in the United States and the United
Kingdom, today announced that David Faiman, Chief Financial Officer
(CFO), will be leaving the Company by December 31, 2019 and will
assist in the orderly transition of his CFO
responsibilities.
Brendan Flood, Chairman and Chief Executive
Officer, said, “After more than three years of trusted partnership,
David has been an instrumental part of the management team that has
taken the Company’s revenues from approximately $100 million to
today’s $300 million, including four acquisitions. During David’s
tenure, we have refinanced the entire business. On behalf of our
team and our Board of Directors, we thank him for his service and
wish him well in his future endeavors.”
Flood continued, “We have begun the search for a
successor who will work to help us achieve our previously stated
goal of generating $500 million in profitable revenues. We are well
positioned with a strong operational and financial foundation to
continue to achieve our strategic goals and create shareholder
value,” concluded Flood.
About Staffing 360 Solutions,
Inc.Staffing 360 Solutions, Inc. is engaged in the
execution of an international buy-integrate-build strategy through
the acquisition of domestic and international staffing
organizations in the United States and United Kingdom. The Company
believes that the staffing industry offers opportunities for
accretive acquisitions that can drive profitable annual revenues to
$500 million. As part of its targeted consolidation model, the
Company is pursuing acquisition targets in the finance and
accounting, administrative, engineering, IT, and Light Industrial
staffing space. For more information, please
visit: www.staffing360solutions.com. Follow Staffing 360
Solutions
on Facebook, LinkedIn and Twitter.
Forward-Looking StatementsThis
press release contains forward-looking statements, which may be
identified by words such as "expect," "look forward to,"
"anticipate" "intend," "plan," "believe," "seek," "estimate,"
"will," "project" or words of similar meaning. Although
Staffing 360 Solutions, Inc. believes such forward-looking
statements are based on reasonable assumptions, it can give no
assurance that its expectations will be attained. Actual
results may vary materially from those expressed or implied by the
statements herein, including the goal of achieving annualized
revenues of $500 million, due to the Company’s ability to
successfully raise sufficient capital on reasonable terms or at
all, to consummate additional acquisitions, to successfully
integrate newly acquired companies, to organically grow its
business, to successfully defend potential future litigation,
changes in local or national economic conditions, the ability to
comply with contractual covenants, including in respect of its
debt, as well as various additional risks, many of which are now
unknown and generally out of the Company’s control, and which are
detailed from time to time in reports filed by the Company with the
SEC, including quarterly reports on Form 10-Q, reports on Form 8-K
and annual reports on Form 10-K. Staffing 360 Solutions does
not undertake any duty to update any statements contained herein
(including any forward-looking statements), except as required by
law.
Investor Relations Contact: Harvey Bibicoff,
CEO Bibicoff + MacInnis, Inc. 818.379.8500
harvey@bibimac.com
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