NEW YORK, May 29, 2014 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq: HSON ) ("Hudson" or "the Company"), a leading global talent solutions company, today announced the results of its Annual Meeting of Stockholders based on a preliminary vote count provided by its proxy solicitor.
- Proposal 1: stockholders elected Jeffrey E. Eberwein and Richard K. Coleman, Jr. to the Board of Directors;
- Proposal 2: stockholders approved the compensation of the Company's named executive officers;
- Proposal 3: KPMG LLP was approved as the Company's independent auditor;
- Proposal 4: an amendment to the Amended and Restated Certificate of Incorporation to declassify the Board of Directors and provide for the annual election of directors was approved.
"We appreciate the candid feedback we have received from Hudson stockholders over the past few weeks, including the many supportive comments about our team and strategic plan and the desire to have further stockholder representation on the Board," said Manolo Marquez, chairman and chief executive officer at Hudson. "We welcome Messrs. Eberwein and Coleman to the Board and look forward to familiarizing them further with Hudson's business, demonstrating the progress we are making on our plan to achieve sustained profitability and working with them constructively. We are pleased that stockholders approved our other proposals, including declassifying the Board. The entire board and management team is committed to taking the right actions to ensure long term value creation for all Hudson stockholders."
Mr. Marquez continued, "Our outgoing directors – Robert Dubner and Jennifer Laing – deserve an enormous amount of credit for helping to oversee the development and execution of our transformation plan, in particular our efforts to streamline operations and cut costs while preserving Hudson's differentiated client service. We thank them for their distinguished service on the Board and wish them all the best in the future."
IVS Associates, Inc., the independent Inspector of Elections, has indicated that it expects to issue certified results in due course, following their customary review process. The Company will then announce the final results.
About Hudson
Hudson is a global talent solutions company with expertise in leadership and specialized recruitment, contracting solutions, recruitment process outsourcing, talent management and eDiscovery. We help our clients and candidates succeed by leveraging our expertise, deep industry and market knowledge, and proprietary assessment tools and techniques. Operating in 20 countries through relationships with millions of specialized professionals, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. More information is available at Hudson.com.
Forward-Looking Statements
This communication contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, including statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations, the company's ability to execute its strategic initiatives, risks related to fluctuations in the company's operating results from quarter to quarter, the ability of clients to terminate their relationship with the company at any time, competition in the company's markets, the negative cash flows and operating losses that the company has experienced from time to time, restrictions on the company's operating flexibility due to the terms of its credit facilities, risks associated with the company's investment strategy, risks related to international operations, including foreign currency fluctuations, the company's dependence on key management personnel, the company's ability to attract and retain highly-skilled professionals, the company's ability to collect its accounts receivable, the company's ability to achieve anticipated cost savings through the company's cost reduction initiatives, the company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology, risks related to providing uninterrupted service to clients, the company's exposure to employment-related claims from clients, employers and regulatory authorities and limits on related insurance coverage, the company's ability to utilize net operating loss carry-forwards, volatility of the company's stock price, the impact of government regulations, restrictions imposed by blocking arrangements, risks related to activist stockholders and risks related to limited availability under the company's credit facilities. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
David F. Kirby Hudson 212-351-7216 or Drew Brown/Andrew Cole/Renee Soto Sard Verbinnen & Co. 212-687-8080
