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TROY, MI – Kelly Services Inc. (NASDAQ:KELYA), a leader in providing workforce solutions with annual revenue of $4.3 billion, has announced the retirement of long-serving director Donald R. Parfet. According to InvestingPro data, the company has maintained dividend payments for 15 consecutive years, demonstrating consistent shareholder returns under its current leadership. The company disclosed in a recent 8-K filing with the Securities and Exchange Commission that Mr. Parfet will retire effective as of the date of the company’s 2025 annual shareholders meeting.
Mr. Parfet, who has been a member of the board since 2004, also served as the Chairman of the Board for five years from 2018 to 2023 and was the Lead Director from 2012 to 2018. His departure is not due to any disagreement with the company’s operations, policies, or practices, as stated in the filing.
The board expressed its sincere gratitude for Mr. Parfet’s dedicated service to the company and its shareholders over the years. His leadership and guidance have been invaluable to Kelly Services’ growth and success. InvestingPro analysis indicates the company is currently trading below its Fair Value, with strong liquidity metrics showing liquid assets exceeding short-term obligations.
Kelly Services has not yet announced a successor or provided details about the transition plan for Mr. Parfet’s board responsibilities. The company’s annual shareholders meeting, where the retirement will take effect, is scheduled for a later date in 2025.
This announcement comes at a time when Kelly Services continues to navigate the evolving landscape of employment services and the challenges of a dynamic labor market. While the company has not indicated any immediate changes to its strategic direction following Mr. Parfet’s retirement, InvestingPro data shows analysts expect net income growth this year, with eight additional key insights available to subscribers through the comprehensive Pro Research Report.
Investors and industry watchers will be looking forward to updates on the company’s leadership transition and any potential impact on the company’s strategic initiatives. The information in this article is based on the latest 8-K filing by Kelly Services with the SEC.
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