Kelly® Responds to COVID-19 Crisis; Arranges Virtual 2020 Stockholder Meeting; Announces First Quarter Conference Call; Withdraws Full-Year Guidance
Kelly is taking action in response to the coronavirus pandemic, including:
- Protecting the company’s balance sheet and financial stability for the long-term
- Suspending the quarterly dividend and withdrawing full-year guidance until business conditions improve
- Compensation actions, temporary furloughs, retraining and redeployment
While the current crisis presents extraordinary conditions for the company and the industry, Kelly remains confident in its ability to adapt as we have over the past 74 years of operations. The company’s seasoned leadership team has managed through labor market disruptions and challenging global economic conditions over the decades, and Kelly entered the COVID-19 crisis with a healthy balance sheet and a clear business strategy.
The board of directors remains supportive of decisions necessary to protect and guide the company’s commitment to long-term success. Chief Executive Officer
“The safety and well-being of Kelly’s employees during the COVID-19 crisis is our top priority, followed immediately by the health of the company,” said Quigley. “Over the last five years, the leadership team has been diligent in enhancing Kelly’s financial standing by growing higher-margin business, improving efficiency, managing expenses and generating free cash flow. In light of the current uncertain environment, we took additional precautionary actions to further strengthen our balance sheet and enhance our financial flexibility. While certainly painful, some shared sacrifice now will provide us the opportunity to remain strong and well-positioned coming out of this crisis.”
Additional information will be shared on Kelly’s first quarter conference call.
Conference Call
Kelly will release its first quarter earnings prior to the market open on
Join online: kellyservices.com
Join via phone: (877) 692-8955 (toll free) or (234) 720-6979 (caller paid)
access code 5728672#
A recording of the conference call will be available after 2:30 p.m. EDT on May 4, 2020 at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 5222215#. The recording will also be available at kellyservices.com during this period.
Notice of Change to Virtual Meeting
Kelly has changed the format of its 2020 Annual Stockholders Meeting, scheduled to be held on
Join online beginning at
Class
If you wish to vote your shares at the Annual Meeting, please follow the instructions available on the meeting website.
If your shares are held through an intermediary, such as a bank or broker, you must register in advance to vote at the Annual Meeting. Please submit proof of your proxy power (legal proxy) reflecting your Kelly holdings along with your name and email address to Computershare. Requests for registration must be labeled as “Legal Proxy” and must be received no later than
Requests for registration should be directed to Computershare at the following address:
Computershare P.O. BOX 30170 |
Overnight correspondence should be mailed to: Computershare |
By email: forward the email from your broker, or attach an image of your legal proxy, to legalproxy@computershare.com.
*Please note that the proxy card included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote your shares in connection with the Annual Meeting.
About Kelly
KLYA-FIN
Media Contact:
Jane Stehney
(248) 574-9800
stehney@kellyservices.com
@JaneStehney
Analyst Contact:
(248) 244-4586
polehjm@kellyservices.com
Source: Kelly Services, Inc.