SITEL Corporation and JANA Partners LLC Announce Settlement and New Board Members
07 8월 2006 - 9:30PM
Business Wire
SITEL Corporation (NYSE:SWW), a leading global provider of
outsourced customer services, and JANA Partners LLC ("JANA"), the
Company's largest shareholder, announced today that they have
agreed to a settlement and the addition to the Company's board of
directors of Robert H. Getz and Stephen L. Key, both designated by
JANA, and the addition of a third JANA designee within six months.
Pursuant to an agreement entered into on August 4, the Company's
board has approved a reconstituted board consisting of Cyrus F.
Freidheim, Jr., Nigel T. Gourlay and Mr. Getz as Class I Directors
with terms to expire at the Company's 2008 annual meeting of
stockholders; Rohit M. Desai, David J. Hanger and Mr. Key as Class
II Directors with terms to expire at the Company's 2006 annual
meeting of stockholders; and Mathais J. DeVito, George J. Kubat and
James F. Lynch as Class III Directors with terms to expire at the
Company's 2007 annual meeting of stockholders. Kelvin C. Berens has
resigned from the board after eleven years of distinguished
service. The transition in membership of the board was effective on
August 4, 2006. In addition, within the next six months, Mr. Kubat
will resign from the board and Charles Penner will be appointed to
fill the resulting Class III Director vacancy. Mr. Getz is a
private investor and a Managing Director at Cornerstone Equity
Investors, LLC, a private equity firm which Mr. Getz co-founded in
1996. Prior to that, Mr. Getz was a Managing Director and Partner
with Prudential Equity Investors, a private equity firm which he
joined in 1987 following his employment at The Prudential
Investment Corporation from 1985 to 1987. Mr. Getz also serves as a
director of Novatel Wireless, Inc. and Haynes International Inc.
Mr. Key, since 2003, has been the sole proprietor of Key
Consulting, LLC, a management and financial consulting business,
and is the vice chairman and a member of the advisory board of J.D.
Watkins Enterprises, Inc., where he also served as Chief Financial
Officer from 2001 to 2006. Mr. Key served as the Chief Financial
Officer and Executive Vice President of Textron, Inc. from 1995 to
2001, as the Chief Financial Officer and Executive Vice President
of ConAgra, Inc. from 1992 to 1995, and as Managing Partner of
Ernst & Young's New York office from 1988 to 1992, after
joining Ernst & Young in 1968. Mr. Key also serves on the board
of directors of 1-800-Contacts, Inc. and Greenhill & Co., and
is a trustee of the Rhode Island School of Design. As part of the
agreement, JANA has agreed to abandon its previously announced
intent to nominate directors for election at the Company's 2006
annual meeting. In addition, JANA has agreed not to take certain
actions for a one year period and to support the slate of directors
nominated for election by the Company's board at the 2006 annual
meeting of stockholders, subject to the terms of the agreement
which will be incorporated by reference on Form 8-K to be filed by
the Company this week. About SITEL Corporation 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
approximately 39,000 employees in 90 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 www.sitel.com for further
information. About JANA Partners LLC JANA Partners LLC is a private
money management firm with offices in New York and San Francisco
and over $5 billion in assets.
Sitel (NYSE:SWW)
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Sitel (NYSE:SWW)
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