WALTHAM, Mass., Nov. 24, 2015 /PRNewswire/ -- Lionbridge
Technologies, Inc. (Nasdaq: LIOX), today announced the appointment
of James Quella to the Company's
Board of Directors, effective immediately. With this addition, the
Lionbridge Board has been expanded to nine directors.
"We are pleased to welcome James to our Board of Directors. We
look forward to James' insights as we continue to execute on our
strategy of new offerings and new verticals while delivering record
earnings growth," said Rory Cowan,
Lionbridge CEO.
James Quella stated: "I am
delighted to join the Lionbridge Board of Directors. The
Company has built a unique leadership position in global
crowd-in-the-cloud services affording a scale platform to
substantially grow revenue and profit. I look forward to helping
the Company continue its commitment to increasing value for
clients, employees and shareholders worldwide."
Mr. Quella was formerly a Senior Managing Director at
Blackstone's Private Equity Group
from 2004 to 2013. Previously he held various positons at
Donaldson, Lufkin & Jenrette Merchant Banking Partners-CSFB
Private Equity and Mercer Management Consulting and Strategic
Planning Associates. He is also the co-author of "Profit Patterns:
30 Ways to Anticipate and Profit from the Strategic Forces
Reshaping Your Business".
The Lionbridge Nominating and Compensation Committee identified
Mr. Quella through its process of outreach, including extensive
search efforts as well as consideration of candidates recommended
by shareholders, including Glen Capital, consistent with the
Committee's past practice. Glen Capital Partners and its
affiliates have agreed to vote their shares in accordance with the
Board of Directors' recommendation at Lionbridge's 2016 annual
meeting of stockholders and at any subsequent annual meeting at
which Mr. Quella has been nominated for re-election as a
director. The firm and its affiliates have also agreed to
other customary standstill provisions, which terminate ten days
prior to the deadline for the submission of stockholder nominations
for the 2018 annual meeting.
The Nomination and Standstill Agreement is an exhibit to the
Company's Current Report on Form 8-K filed today with the
Securities and Exchange Commission.
About Lionbridge
Lionbridge enables more than 800
world-leading brands to increase international market share, speed
adoption of products and effectively engage their customers in
local markets worldwide. Using our innovative cloud technology
platforms and our global crowd of more than 100,000 professional
cloud workers, we provide translation, online marketing, global
content management and application testing solutions that ensure
global brand consistency, local relevancy and technical usability
across all touch points of the customer lifecycle. Based in
Waltham, Mass., Lionbridge
maintains solution centers in 28 countries. To learn more, visit
http://www.lionbridge.com.
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SOURCE Lionbridge