Command Center Announces Resignation of CEO Glenn Welstad
02/20/2013| 07:05am US/Eastern
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Command Center, Inc. (OTCQB: CCNI) (http://www.otcmarkets.com/stock/CCNI/quote),
a national provider of on-demand and temporary staffing solutions, today
reported that founder and Chief Executive Officer, Glenn Welstad, has
announced his resignation as president and CEO in order to pursue other
interests. Mr. Welstad also resigned as a member of the board of
directors.
Although the resignation is effective immediately, Glenn Welstad's
departure has been planned for some time. As part of this process, the
board of directors has been actively engaged in identifying and
screening candidates and is now in the final stages of selecting a new
CEO.
Glenn Welstad, 69, founded the company in 2003 and took the company
public in 2005. He navigated the company through some of the most
economically challenging times for the staffing industry. Command Center
makes this announcement with the company solidly positioned and
competitive, having a committed staff and dedicated workforce in place.
The company noted that under Glenn Welstad's leadership, 2012 was a very
strong year with top line growth of 20.2%, combined with trailing twelve
months of positive earnings through the last earnings report. He leaves
the company financially, operationally and technologically positioned to
execute on its growth strategy, while continuing to focus on bottom line
profitability.
Mr. Welstad has a rich business history that includes more than 15 years
in the restaurant business and, most notably, as the founder of Labor
Ready (now TrueBlue, Inc.) in 1989. Glenn, along with two other Command
Center executives, who will remain with the company, were among the
forward-thinking professionals responsible for guiding and managing the
phenomenal growth of Labor Ready into a billion-dollar company, making
it the fourth-best performing stock among all U.S. stocks during the
90's decade. Mr. Welstad left TrueBlue in 2000 after growing TrueBlue's
international footprint to over 800 locations.
Board member Jeff Wilson praised Mr. Welstad, saying, "Glenn is a
visionary business leader whose commitment to providing quality staff
members to clients in real time launched an entire industry. His
unwavering focus on quality is a legacy that will be carried on by
Command Center. His presence will be missed at Command and we wish him
well."
About Command Center, Inc.
The company provides flexible on-demand employment solutions to
businesses in the United States, primarily in the areas of light
industrial, hospitality and event services, as well as other assignments
such as emergency and disaster relief projects. Additional information
on Command Center is available at www.commandonline.com.
Information on the company's Bakken Staffing division can be found at www.bakkenstaffing.com.
This news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and
other statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including, but
not limited to, the severity and duration of the general economic
downturn, the availability of worker's compensation insurance coverage,
the availability of capital and suitable financing for the Company's
activities, the ability to attract, develop and retain qualified store
managers and other personnel, product and service demand and acceptance,
changes in technology, the impact of competition and pricing, government
regulation, and other risks set forth in the Form 10-K filed with the
Securities and Exchange Commission on April 9, 2012 and in other
statements filed from time to time with the Securities and Exchange
Commission. All such forward-looking statements, whether written or
oral, and whether made by or on behalf of the Company, are expressly
qualified by these cautionary statements and any other cautionary
statements which may accompany the forward-looking statements. In
addition, the Company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after the
date hereof.
Investor Relations:
Command Center, Inc.
Dan Jackson,
208-773-7450 ext. 4239
dan.jackson@commandonline.com
© Business Wire 2013
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