NEW YORK, March 06, 2018 (GLOBE NEWSWIRE) -- Staffing 360 Solutions, Inc. (NASDAQ:STAF) (“STAF 360” or “the Company”), a staffing solutions company executing a global buy-and-build strategy in the US and the UK, today announced that it hired Mark Darby as President of its Professional Staffing (UK) segment, effective April 1, 2018. Mr. Darby will lead STAF 360’s subsidiaries CBSbutler, The JM Group, and Longbridge Recruitment 360, and will join the Company’s Executive Committee. He will report directly to Brendan Flood, STAF 360’s Chairman and CEO.
Mr. Darby has over 20 years of experience in the professional staffing industry. From 2005-2015, he held leadership positions with Kellan Group Plc, an AIM listed multi-sector professional staffing business. At Kellan Group, Mr. Darby led several restructuring and growth initiatives that turned around the business from a significant loss to profitability in 2015. As a result, he was appointed Group COO and Executive Board member in 2015.
From 1997-2001, he managed his own staffing business, Professional IT Search & Selection Limited, operating in the IT and software sectors, which he sold to Parity Group Plc, a UK based, £170 million revenue international staffing and software services company. At Parity, Mr. Darby was responsible for permanent recruitment on a national basis and new business contractor growth for London, a £45 million revenue business segment. He led a team of 120 consultants and business managers across 6 UK locations.
Of note, in December 2017, STAF 360 was re-organized into three distinct business segments: Commercial Staffing (US), Professional Staffing (UK) and Professional Staffing (US), each to be led by a dedicated President. At the time of the re-organization, Paul Polito was named President of the Commercial Staffing (US) segment. An executive search remains underway for the Professional Staffing (US) segment, which in the interim, will continue to be led by Mr. Flood.
Brendan Flood, Chairman and CEO of STAF 360, commented, “Mark’s extensive experience in the professional staffing industry will be a very valuable asset to our team as we work towards advancing our goal of profitably growing our business, both organically and through acquisitions and becoming a $500 million revenue company within the next two years. I look forward to working with Mark for years to come.”
“I have been watching the progress of Staffing 360 Solutions with interest and I am delighted to become part of this story, working with the team in the UK to drive this business forward. We have three exciting brands, talented management teams, and a strong client service culture,” stated Mark Darby.
Rob Slaney, who is the Finance Director of the newly acquired CBSbutler business, has been promoted to Group Finance Director (UK) with financial responsibility for all three of STAF 360’s subsidiaries in the UK. Prior to joining CBSbutler, Rob was Group Financial Controller at Empresaria Group plc, a multibrand, multinational staffing company delivering over $300 million in revenue.
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (NASDAQ:STAF) is a public company in the staffing sector engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the US and UK. The Company believes the staffing industry offers opportunities for accretive acquisitions that will drive its annual revenues to $500 million. As part of its targeted consolidation model, the Company is pursuing acquisition targets in the finance and accounting, administrative, engineering and IT staffing space. For more information, please visit: www.staffing360solutions.com.
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Forward-Looking Statements
Certain matters discussed within this press release are forward-looking statements including, but not limited to the timing and ability to enter into any additional acquisitions and expand our business, as well as the size of future revenue or trading volume or future access to capital markets. Although Staffing 360 Solutions, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Specifically, in order for the Company to achieve annualized revenues of $500 million, the Company will need to successfully raise sufficient capital, to consummate additional target acquisitions, successfully integrate any newly acquired companies, organically grow its business, successfully defend any potential future litigation, as well as various additional contingencies, many of which are unknown at this time and generally out of the Company's control. The Company can give no assurance that it will be able to achieve these objectives. Staffing 360 Solutions does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions, our ability to access the capital markets on terms acceptable to us, or at all, our ability to comply with our contractual covenants, including in respect of our debt and other risks detailed from time to time in Staffing 360 Solutions' reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.
Contacts:
Staffing 360 Solutions, Inc.
Brendan Flood, Chairman and CEO
brendan.flood@staffing360solutions.com / +1 (646) 507-5715
David Faiman, Chief Financial Officer
info@staffing360solutions.com / +1 (646) 507-5711
Investor Relations:
The Equity Group, Inc.
Lena Cati
lcati@equityny.com / +1 (212) 836-9611
Devin Sullivan
dsullivan@equityny.com / +1 (212) 836-9608