PITTSBURGH, Feb. 29, 2016 /PRNewswire/ -- Mastech
Holdings, Inc. (NYSE MKT: MHH), a national provider of Information
Technology staffing services, announced today that D. Kevin Horner has resigned as President and
Chief Executive Officer and Director of the Board. Mastech's
Board of Directors has appointed Vivek
Gupta as his successor as President and CEO and Director of
the Board, effective March 1,
2016.
Horner joined Mastech as CEO in October
2011 and had served on the Board of Directors since
2008. During his tenure, the Company's annual revenues grew
from approximately $80 million to $123
million and he led the Company through its 2015 acquisition
of the U.S. IT staffing business of Hudson Global Resources
Management.
"I want to thank the Board, Mastech employees and customers for
their support and am proud of the great things we have accomplished
despite the often challenging environment for the staffing
industry," said Horner.
"The Board would like to thank Kevin for his years of service
and many contributions to Mastech as CEO and as a Director," stated
Sunil Wadhwani and Ashok Trivedi, Co-Chairmen of its Board of
Directors.
Gupta, age 52, joins Mastech from RPG Enterprises where he
served as the Chief Executive- Americas, RPG Group since
October 2015. From 2011 to
October 2015, Gupta served as the
Chief Executive of Global Infrastructure Management Services at
Zensar, a global information technology services company and part
of the RPG Group. He joined Zensar in 1984 and served there in a
number of senior executive positions in the U.S., Europe and India.
Commenting on the appointment, Co-Chairmen Wadhwani and Trivedi
stated, "We are very pleased to have someone with Gupta's
experience and depth of knowledge in the information technology
space to guide Mastech during this next stage of its
development."
"I am honored and excited about the opportunity to lead this
great organization. And I look forward to working with all of
Mastech's talented and dedicated employees to help build profitable
growth and value for all of the company's stakeholders, including
the shareholders, customers, and employees," said Gupta.
About Mastech Holdings, Inc.:
Leveraging the power of 29 years of
IT experience, Mastech (NYSE MKT: MHH) provides
Information Technology Staffing services in the disciplines
which drive today's business operations. 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 Annual Report on Form 10-K for
the year ended December 31, 2014.
Logo -
http://photos.prnewswire.com/prnh/20100507/NE01385LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/mastech-holdings-ceo-resigns-and-board-appoints-successor-300227949.html
SOURCE Mastech Holdings, Inc.