Thomas Group Announces Michael E. McGrath as Executive Chairman of the Board & Resignation of President & CEO
February 25 2008 - 7:00AM
Business Wire
Thomas Group, Inc. (NasdaqGM:TGIS), a leading operational
consulting firm, announced today that business visionary, Michael
E. McGrath, a renowned expert on supply chain management, product
development, strategy, and an experienced leader of business
turnarounds, joins Thomas Group�s Board of Directors as Executive
Chairman of the Board. Thomas Group also announced that Jim Taylor,
current President and CEO, has resigned from the company to pursue
entrepreneurial interests. The Board of Directors has a search
underway for a new President and CEO. To ensure a smooth transition
to a new CEO, Taylor will continue with the company until the
middle of April. Taylor has been with the company since 2001,
seeing it through a period of recovery, strong organic growth, and
increasing profitability. Under challenging business circumstances,
Taylor�s leadership stabilized the company and returned it to
growth and profitability. He became head of Thomas Group in January
2004 and within 24 months, successfully eliminated debt, began
trading on the NASDAQ Global Market, and paid the first quarterly
cash dividend. Thomas Group enters 2008 with a strong commercial
pipeline and leadership team in place. General John T. (Jack)
Chain, Jr. (USAF Ret.), outgoing chairman of the board, stated, �We
regret Jim�s resignation but respect his decision. We appreciate
Jim�s commitment and many contributions to Thomas Group over the
years, and we wish him well in his future endeavors.� McGrath
brings impressive experience to his newly appointed position,
including more than 30 years of management consulting, extensive
board leadership experience, and leadership of the successful
turnaround of i2 Technologies. McGrath has served as a member of
the i2 board of directors since August 2004 and served as their
chief executive officer and president from February 2005 through
July 2007. In 1976, McGrath co-founded Pittiglio Rabin Todd &
McGrath (PRTM), a leading management consulting firm to
technology-based companies. He spent 28 years leading PRTM,
retiring in July 2004. While at PRTM, McGrath initiated the
company's product development consulting practice, creating the
PACE� methodology as one of the most successful and effective
models of the product development process. In 1993, he created the
Supply-Chain Operations Reference-model� (SCOR�) to define a
standard for the supply chain management process, which is now
managed as an industry standard by the Supply-Chain Council. He has
written five books and numerous articles, including the
best-selling book on product strategy, Product Strategy for
High-Technology Companies, and is currently writing a new book on
decision making, Decide Better for a Better Life. In addition to
the i2 board, he currently serves on the board of Entrust (ENTU),
is chairman of the board of York Hospital, vice-chairman of St.
Michael�s College, and serves on the boards of Sensable
Technologies, Berwick Academy, and The Aidmatrix Foundation. Prior
to co-founding PRTM, McGrath worked for PricewaterhouseCoopers
(PwC), Texas Instruments, and McCormack & Dodge. McGrath holds
a bachelor's degree in Computer Science and Management Science from
Boston College, and a master's degree in Business Administration
from Harvard Business School. General John T. (Jack) Chain, Jr.
(USAF Ret.) added, �I am pleased to welcome Michael as our
Executive Chairman of the Board. Given Michael�s expertise and past
experience we are confident that he will drive transformation and
innovation to deliver even greater value to our customers and
shareholders.� About Thomas Group Thomas Group, Inc.
(NasdaqGM:TGIS) is an international, publicly-traded professional
services firm specializing in operational improvements. Thomas
Group's unique brand of process improvement and performance
management services enable businesses to enhance operations,
improve productivity and quality, reduce costs, generate cash, and
drive higher profitability. Known for Breakthrough Process
Performance, Thomas Group creates and implements customized
improvement strategies for sustained performance improvements in
all facets of the business enterprise. Thomas Group has offices in
Dallas, Detroit, and Hong Kong. For more information, please visit
www.thomasgroup.com. Safe Harbor Statement Under the Private
Securities Litigation Reform Act Any statements in this release
that are not strictly historical statements, including statements
about our beliefs and expectations, are �forward-looking
statements� within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by these statements, including general economic and business
conditions that may impact clients and the Company�s revenues,
timing and awarding of customer contracts, revenue recognition,
competition and cost factors, as well as other factors detailed
from time to time in the Company�s filings with the Securities and
Exchange Commission, including the Company�s Form 10-K for the year
ended December 31, 2006. These forward-looking statements may be
identified by words such as �anticipate,� �expect,� �suggests,�
�plan,� �believe,� �intend,� �estimates,� �targets,� �projects,�
�could,� �should,� �may,� �would,� �continue,� �forecast,� and
other similar expressions. These forward-looking statements speak
only as of the date of this release. Except as required by law, the
Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in the Company�s
expectations with regard thereto or any change in events,
conditions, or circumstances on which any such statement is based.
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