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Form 8-K

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 10, 2006

 

KELLY SERVICES, INC.

(Exact name of Registrant as specified in its charter)

 

DELAWARE   0-1088   38-1510762

(State or other jurisdiction of

incorporation)

   (Commission File Number)  

(IRS Employer

Identification Number)

 

999 WEST BIG BEAVER ROAD, TROY, MICHIGAN       48084
(Address of principal executive offices)       (Zip Code)

(248) 362-4444

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

On May 10, 2006, Kelly Services, Inc. announced that its Board of Directors has named Terence E. Adderley, age 72, as non-executive chairman of the board and Verne G. Istock, age 65, as Lead Director. This action reflects the recovery in the health of Mr. Adderley, who experienced a cardiac incident February 8, 2006. Carl T. Camden, age 51, will continue as President and Chief Executive Officer, the position to which he was named February 27, 2006 under the Company’s succession plan.

A copy of the press release is attached as Exhibit 99.1 herein.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

 

  99.1 Press Release dated May 10, 2006.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

     KELLY SERVICES, INC.
Date: May 11, 2006     
     /s/    William K. Gerber
     William K. Gerber
     Executive Vice President and
     Chief Financial Officer
     (Principal Financial Officer)
Date: May 11, 2006     
     /s/    Michael E. Debs
     Michael E. Debs
     Senior Vice President and Corporate Controller
     (Principal Accounting Officer)

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EXHIBIT INDEX

 

  Exhibit No.  
   

Description            

99.1    Press release dated May 10, 2006
Press Release dated May 10, 2006

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Exhibit 99.1

LOGO

Kelly Services Names Adderley as Non-Executive Chairman

 

  •   Camden continues as President and Chief Executive Officer

 

  •   Istock appointed Lead Director

TROY, Mich., (May 10, 2006) - Kelly Services, Inc. (Nasdaq: KELYA, KELYB) announced today that its Board of Directors has named Terence E. Adderley as non-executive chairman of the board and Verne G. Istock as Lead Director. The action reflects the recovery in the health of Mr. Adderley, who experienced a cardiac incident February 8.

“We are thankful that Terry has recovered and that the strong, global organization he has led will once again benefit from his advice and counsel,” said Carl T. Camden, who continues as President and Chief Executive Officer, the position to which he was named February 27 under the company’s succession plan.

Mr. Adderley said, “I am grateful to Carl, Verne and the rest of the board and management team for their seamless stewardship of Kelly Services during my hospitalization and recovery. I am also very pleased to once again be able to contribute to the success of a company that means so much to me.”

Mr. Adderley joined Kelly in 1958 as manager of the company’s Louisville, Kentucky, office. He was elected vice president of the company in 1961 and joined the board of directors in 1962. Mr. Adderley was elected executive vice president in 1965, president in 1967, chief executive officer in 1987 and chairman in 1998.

Before being named acting chief executive officer on February 9, Mr. Camden had served as president and chief operating officer and as a member of the Board of the Directors since November 2001. He joined Kelly in April 1995 as senior vice president, Corporate Marketing and was promoted to executive vice president, Marketing & Strategy in 1997. Mr. Camden was named executive vice president in charge of Field Operations, Sales & Marketing in 1998, and in April 2001 was promoted to executive vice president and chief operating officer.

- more -

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Mr. Istock, who had served as non-executive chairman of the board since February 27, is the former chairman, president and chief executive officer of First Chicago NBD Corporation and former chairman and president of Bank One Corporation, from which he retired in 2000. He also formerly served as a director of the Federal Reserve Bank of Chicago. He has been a member of the Kelly Services Board of Directors since 1991.

This release contains statements that are forward looking in nature and accordingly, are subject to risks and uncertainties. These factors include: competition, changing market and economic conditions, currency fluctuations, changes in laws and regulations, including tax laws, the company’s ability to effectively manage its information technology programs, and other factors discussed in this release and in the company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any projections contained herein.

About Kelly Services

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) is a Fortune 500 company headquartered in Troy, Mich., offering staffing solutions that include temporary staffing services, staff leasing, outsourcing, vendor on-site and full-time placement. Kelly operates in 30 countries and territories. Kelly provides employment to more than 700,000 employees annually, with skills including office services, accounting, engineering, information technology, law, science, marketing, light industrial, education, health care and home care. Revenue in 2005 was $5.3 billion. Visit http://www.kellyservices.com .

 

ANALYST CONTACT:   MEDIA CONTACT:
James Polehna   Renee Walker
(248) 244-4586   (248) 244-5362
james_polehna@kellyservices.com   renee_walker@kellyservices.com

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