CALABASAS, Calif., Jan. 3 /PRNewswire-FirstCall/ -- On Assignment, Inc. (NASDAQ:ASGN) announced today that it has appointed James L. Brill as Senior Vice President, Finance and Chief Financial Officer effective January 1, 2007. Mr. Brill, 55, replaces Michael Holtzman who resigned for medical reasons effective December 8, 2006.
Mr. Brill was Vice President, Finance and Chief Financial Officer of Diagnostic Products Corporation since July 1999. Diagnostic Products Corporation was acquired for $1.86 billion by Siemens in July 2006. Mr. Brill has also served as Chief Financial Officer of Jafra Cosmetics International, Vice President of Finance and Administration and Chief Financial Officer of Vertel Corporation and Senior Vice President, Finance and Chief Financial Officer of Merisel, Inc. Mr. Brill is a member of the Board of Directors of Onvia Inc. He holds a Bachelor of Science from the United States Naval Academy and a Masters of Business Administration from UCLA.
Peter Dameris, Chief Executive Officer and President, said, "Jim Brill is a great addition to our existing management team. His strong background as chief financial officer with high growth acquisitive public companies in both the healthcare and technology sectors will be invaluable to On Assignment as we continue to grow. I am happy to be partnering with him as we move forward with our recent acquisition of VISTA Staffing Solutions, exploring additional acquisition opportunities and focusing on growing our core businesses. We are very fortunate to be having Jim join our team." The terms of Mr. Brill's employment agreement will be included in a Form 8-K, but the Company notes that Mr. Brill has been granted 100,024 nonqualified stock options as a material inducement to his entering into employment with On Assignment. These inducement options have been granted outside of On Assignment's Stock Option Plan and without shareholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A). The grants have the following terms: the stock options will vest as to 25,000 shares on January 1, 2008 and as to 2,084 shares on the first of each month thereafter until fully vested, subject to continued employment through each relevant date; the stock options have an exercise price equal to the closing price of On Assignment's stock on the last trading date prior to the date of grant and have a ten-year term. Pursuant to the terms of an executive change of control agreement, all shares subject to the inducement option will vest in full immediately prior to a change of control.
About On Assignment On Assignment, Inc. is a diversified professional staffing firm providing flexible and permanent staffing solutions in specialty skills including Laboratory/Scientific, Healthcare, and Medical, Financial & Health Information Services. The corporate headquarters are located in Calabasas, California. On Assignment, Inc. was founded in 1985 as On Assignment/Lab Support and went public in 1992. The company's branch network encompasses approximately 60 branch offices across the United States, the United Kingdom, the Netherlands, and Belgium. On Assignment, Inc.'s common stock is traded on the Nasdaq Stock Market under the symbol ASGN.
Safe Harbor Certain statements made in this news release are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and involve a high degree of risk and uncertainty. All statements in this release, other than those setting forth strictly historical information, are forward looking statements. Forward-looking statements are not guarantees of future performance, and actual results might differ materially. Factors that could cause or contribute to such differences include actual demand for our services, our ability to attract, train and retain qualified staffing consultants, our ability to remain competitive in obtaining and retaining temporary staffing clients, the availability of qualified temporary nurses and other qualified temporary professionals, management of our growth, continued performance of our enterprise-wide information systems, our ability to successfully make or integrate new acquisitions and other risks detailed from time to time in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2005, as filed with the SEC on March 16, 2006. We specifically disclaim any intention or duty to update any forward-looking statements contained in this news release.
Contact: On Assignment, Inc. James Brill
Sr. VP and Chief Financial Officer
(818) 878-7900 Investors/Media:
The Ruth Group
Carol Ruth/Jason Rando
(646) 536-7004/7025
DATASOURCE: On Assignment, Inc.
CONTACT: James Brill, Sr. VP and Chief Financial Officer of On Assignment, Inc., +1-818-878-7900; or Investors & Media: Carol Ruth, +1-646-536-7004, , or Jason Rando, +1-646-536-7025, , both of The Ruth Group, for On Assignment, Inc. |