Kelly Services announces retirement of key executive

In a recent filing with the Securities and Exchange Commission, Kelly Services Inc. (NASDAQ:KELYA) (NASDAQ:KELYB), a leader in providing workforce solutions with annual revenue of $4.3 billion, announced the impending retirement of Laura Lockhart, the company’s Vice President, Chief Accounting Officer, and Corporate Controller. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.65, indicating robust financial management. Lockhart has communicated her intention to retire effective December 31, 2025, or earlier upon the appointment of her successor.

The company clarified that Lockhart’s decision to retire is not due to any disagreement or dispute, particularly concerning the company’s accounting practices or financial reporting. Kelly Services has begun the process of searching for Lockhart’s replacement, considering both internal and external candidates for the role. The company has demonstrated financial stability, maintaining dividend payments for 15 consecutive years despite market challenges.

Lockhart is expected to remain with the company as an employee to facilitate a smooth transition after her successor is appointed. This move comes as part of the company’s strategic planning for its leadership team and maintaining the integrity of its financial operations.

The announcement was made official in the company’s 8-K filing dated March 6, 2025, and filed with the SEC on March 10, 2025. Kelly Services, headquartered in Troy, Michigan, is incorporated in Delaware and operates in the help supply services sector.

The transition in leadership is a significant event for Kelly Services, as the role of Chief Accounting Officer is critical for ensuring the company’s compliance with financial regulations and maintaining the trust of shareholders and the market.

This news is based on a press release statement issued by Kelly Services and filed with the SEC, which provides a transparent view of the company’s executive movements. The company’s shares are traded on The Nasdaq Stock Market under the symbols KELYA and KELYB.

In other recent news, Kelly Services reported its fourth-quarter 2024 financial results, exceeding analyst expectations with an earnings per share (EPS) of $0.82 compared to the forecast of $0.525. The company’s revenue also surpassed predictions, reaching $1.19 billion against the anticipated $1.16 billion. This performance reflects Kelly Services’ resilience in a challenging market, with organic revenue growth of 4.4% despite a year-over-year decline in total revenue. In addition, the company announced the retirement of long-serving director Donald R. Parfet, effective at the 2025 annual shareholders meeting.

While Kelly Services has not yet named a successor for Parfet, the leadership transition is being closely monitored by investors and industry observers. The company is also focusing on integrating recent acquisitions and divesting non-core assets to streamline operations. Meanwhile, Kelly Services’ CEO, Peter Quigley, announced his intention to retire by the end of the year, with the board actively searching for his successor. Analyst firms have not provided any recent upgrades or downgrades for Kelly Services, but the company’s strategic initiatives and financial performance continue to draw attention from investors.

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