Board Approves New Executive Employment Agreements
24 2월 2006 - 7:13AM
PR Newswire (US)
OMAHA, Neb., Feb. 23 /PRNewswire-FirstCall/ -- SITEL Corporation
(NYSE:SWW), a leading global provider of outsourced customer
support services, announced today that its Board of Directors has
approved new employment agreements for its executive officers James
F. Lynch, Jorge A. Celaya, and Robert Scott Moncrieff. The
employment agreements for Jorge A. Celaya and Robert Scott
Moncrieff update and replace their existing employment agreements.
The Compensation Committee of the Board of Directors had
recommended entering into these new employment agreements in line
with market practice and as part of the ongoing process, announced
by the Company on November 23, 2005, through which a special
committee of the board and the Company's financial advisor have
been evaluating strategic alternatives to enhance long-term
shareholder value. The Board believes that having these employment
agreements will appropriately assist retention of key management
while promoting objectivity in evaluating all possible alternatives
and optimizing the outcome from the strategic process. These
agreements do not change the executives' existing levels of salary
and bonus opportunity. These agreements provide new or modified
arrangements for the executives in the event of termination of
employment or change of control. The executive will receive
severance of up to two times annual salary plus target bonus in the
event of termination of employment without cause or by the
executive for good reason, including any such termination of
employment within two years following a change of control. Any
options that have not already vested will vest upon a change of
control. Additional details regarding the employment agreements are
provided in the Form 8-K the Company filed today. About SITEL SITEL
is a leading global provider of outsourced customer support
services. On behalf of many of the world's leading organizations,
SITEL designs and improves customer contact models across its
clients' customer acquisition, retention and development cycles.
SITEL manages approximately two million customer interactions per
day via the telephone, e-mail, Internet and traditional mail. SITEL
has nearly 36,000 employees in 91 global contact centers, utilizing
more than 32 languages and dialects to serve customers in 56
countries SITEL is a leader in the contact center industry. Please
visit SITEL's website at http://www.sitel.com/ for further
information. DATASOURCE: SITEL Corporation CONTACT: Investor
Relations, Bill Sims of SITEL Corporation, +1-402-963-6810 Web
site: http://www.sitel.com/
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