PITTSBURGH, Sept. 22, 2011 /PRNewswire/ -- Mastech Holdings,
Inc. (NYSE Amex: MHH) (the "Company"), a national provider of
Information Technology and Specialized Healthcare staffing
services, today announced that Thomas
Moran has resigned as President, and Chief Executive Officer
and as a director to pursue other opportunities. Sunil Wadhwani, co-founder of Mastech and
Co-Chairman of the Company's Board of Directors, will serve as the
Company's interim Chief Executive Officer until a permanent
replacement is found.
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"On behalf of the Board of Directors, we want to thank Tom for
his contributions to Mastech," said co-founders Sunil Wadhwani and Ashok
Trivedi. "For the past two years, Tom has led the Company
through an unusually challenging environment and his diligence and
leadership have helped Mastech make tangible strides towards
enhancing its service offerings and profitability. We wish
him well in his future endeavors."
Mr. Moran commented, "I am proud of our accomplishments during
my tenure and believe the Company is well positioned for the
future."
The Board of Directors has begun a search for a permanent
replacement, and expects to complete the search within 90-days.
About Mastech Holdings, Inc.:
Leveraging the power of over 20 years of IT experience, Mastech
(NYSE Amex: MHH) provides Information Technology Staffing services
in the disciplines which drive today's business operations and
Specialized Healthcare Staffing services to hospitals and other
healthcare facilities. More information about Mastech can be found
at Mastech's website: www.mastech.com.
Forward-Looking Statements:
Certain statements contained in this release are forward-looking
statements based on management's expectations, estimates,
projections and assumptions. Words such as "expects,"
"anticipates," "plans," "believes," "scheduled," "estimates" and
variations of these words and similar expressions are intended to
identify forward-looking statements, which include but are not
limited to projections of revenues, earnings, and cash flow. These
statements are based on information currently available to the
Company and it assumes no obligation to update the forward-looking
statements as circumstances change. These statements are not
guarantees of future performance and involve certain risks and
uncertainties, which are difficult to predict. Therefore, actual
future results and trends may differ materially from what is
forecast in forward-looking statements due to a variety of factors,
including, without limitation, the level of market demand for its
services, the highly competitive market for the types of services
offered by the company, the impact of competitive factors on profit
margins, market conditions that could cause the Company's customers
to reduce their spending for its services, and the company's
ability to create, acquire and build new lines of business, to
attract and retain qualified personnel, reduce costs and conserve
cash, and other risks that are described in more detail in the
company's filings with the Securities and Exchange Commission
including its Form 10-K for the year ended December 31, 2010.
SOURCE Mastech Holdings, Inc.