Kelly announces the appointment of Troy Anderson as CFO, effective December 2, 2024, succeeding Olivier Thirot.
Quiver AI Summary
Kelly Services has announced the completion of its CFO transition, with Troy Anderson taking over as chief financial officer on December 2, 2024, following Olivier Thirot's retirement. Anderson expressed enthusiasm for leading the company during a pivotal time in its growth and transformation, emphasizing the potential for further enhancing Kelly's financial profile and delivering shareholder value. Additionally, Kelly will participate in the Sidoti Virtual Investor Conference on December 4, 2024, where Anderson and other executives will engage in one-on-one meetings with investors. Kelly Services continues to connect job seekers with employment opportunities across various industries, maintaining a significant presence in the staffing sector since its inception in 1946.
Potential Positives
- Announcement of the completion of a CFO transition with Troy Anderson set to enhance the company's financial profile and accelerate growth strategies.
- Anderson's confidence in the company's growth journey indicates a potential for future EBITDA margin expansion and increased shareholder value.
- Participation in the Sidoti Virtual Investor Conference highlights Kelly's commitment to maintaining investor relations and transparency.
- Kelly's robust revenue of $4.8 billion in 2023 showcases strong operational performance and market position in the staffing industry.
Potential Negatives
- CFO transition may indicate uncertainty in leadership stability, which can impact investor confidence.
- Olivier Thirot's retirement as CFO could signal potential disruption in strategic financial management during a critical growth phase.
- Multiple risks outlined in the forward-looking statements suggest potential vulnerabilities that could affect the company's financial performance and strategy execution.
FAQ
Who is the new CFO of Kelly Services?
Troy Anderson has been appointed as the new chief financial officer of Kelly Services, effective December 2, 2024.
What will Olivier Thirot's role be after retirement?
Olivier Thirot will retire as an officer but will continue to serve Kelly as a strategic advisor.
When will Kelly participate in the Sidoti Virtual Investor Conference?
Kelly will participate in the Sidoti Virtual Investor Conference on December 4, 2024.
What is Kelly Services' revenue in 2023?
Kelly Services reported revenue of $4.8 billion in 2023.
How does Kelly Services assist job seekers?
Kelly Services helps job seekers connect with great job opportunities across various industries.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$KELYA Insider Trading Activity
$KELYA insiders have traded $KELYA stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $KELYA stock by insiders over the last 6 months:
- DANIEL H MALAN (Senior Vice President) purchased 3,500 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$KELYA Hedge Fund Activity
We have seen 87 institutional investors add shares of $KELYA stock to their portfolio, and 100 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PROSIGHT MANAGEMENT, LP removed 492,340 shares (-100.0%) from their portfolio in Q3 2024
- PACER ADVISORS, INC. added 380,035 shares (+45.7%) to their portfolio in Q3 2024
- BOSTON PARTNERS added 319,121 shares (+33.6%) to their portfolio in Q3 2024
- INTRINSIC EDGE CAPITAL MANAGEMENT LLC removed 226,503 shares (-100.0%) from their portfolio in Q3 2024
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 225,234 shares (-22.8%) from their portfolio in Q3 2024
- ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC added 221,271 shares (+1730.6%) to their portfolio in Q3 2024
- ASSENAGON ASSET MANAGEMENT S.A. removed 155,604 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
TROY, Mich., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Kelly (Nasdaq: KELYA, KELYB), a leading global specialty talent solutions provider, today announced the completion of its previously announced CFO transition. Troy Anderson , who joined Kelly in October 2024, will succeed Olivier Thirot as the Company’s chief financial officer, effective December 2, 2024. Thirot will retire as an officer of Kelly, while continuing to serve the Company as a strategic advisor.
“I’m grateful to serve as Kelly’s chief financial officer at this consequential point on the Company’s specialty growth journey,” said Anderson. “My experience since joining Kelly has reinforced for me the opportunity that exists to build upon the strong foundation established through the Company’s ongoing transformation and to further enhance its financial profile. I look forward to working with the Kelly team to accelerate organic and inorganic growth, deliver additional EBITDA margin expansion, and create significant value for our shareholders.”
Kelly also announced that it will participate in the Sidoti Virtual Investor Conference on December 4, 2024. Peter Quigley , president and chief executive officer, Anderson, and Scott Thomas, head of investor relations, will participate in one-on-one meetings. Kelly’s investor presentation is available on the Company’s website .
About Kelly®
Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 500,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2023 was $4.8 billion. Learn more at kellyservices.com .
Forward-Looking Statements
This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vi) our future business development, results of operations and financial condition, (vii) damage to our brands, (viii) dependency on third parties for the execution of critical functions, (ix) conducting business in foreign countries, including foreign currency fluctuations, (x) availability of temporary workers with appropriate skills required by customers, (xi) cyberattacks or other breaches of network or information technology security, and (xii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.
KLYA-FIN
ANALYST & MEDIA CONTACT:
Scott Thomas
(248) 251-7264
[email protected]