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Exhibit 99.06
FOR IMMEDIATE RELEASE CONTACT: JEROME P. GRISKO, JR.
President
Cleveland, Ohio
(216) 447-9000
CBIZ APPOINTS STEVEN L. GERARD AS CEO
Cleveland, Ohio (October 12, 2000)-Century Business Services, Inc. (NASDAQ:
CBIZ) ("CBIZ"), today announced that it has named Steven L. Gerard, 55, as Chief
Executive Officer. Mr. Gerard, who possesses extensive experience managing
complex financial organizations and corporate restructuring activities, begins
his duties immediately. CBIZ also announced the appointment of Mr. Gerard to the
Company's Board of Directors, bringing the number of Directors to seven, six of
whom are outside Directors.
Michael G. DeGroote, Chairman of the Board, commented, "We are extremely pleased
to welcome Steven Gerard to CBIZ, particularly at this pivotal stage in the
Company's development. Given his experience with complex financial services
companies and strategy implementation, we are confident Steve's leadership will
help us better focus CBIZ's resources and personnel on achieving our strategic
objectives and long-term goals."
"CBIZ is already in a very favorable position to capitalize on the trend in
outsourced business services," stated Mr. Gerard. "The Company has enormous
market opportunity and an impressive complement of products and services. I look
forward to working with the management team to provide the corporate leadership
that will expedite the strategic plan currently being implemented and I welcome
the challenge of taking CBIZ to its full potential."
Mr. Gerard has drawn on his strong managerial, operational and financial skills
throughout his 31-year career and has been especially successful in planning and
process implementation. As Chairman and CEO of Triangle Wire & Cable, Inc., over
a seven-year period Mr. Gerard restructured operations and distribution,
repositioned the company in its market, reclaimed market share, and restored
sustainable profitability. Before commencing the turnaround of Triangle in 1992,
Mr. Gerard spent 16 years ascending the ranks of Citibank, N.A., where, after
assuming various roles related to that company's corporate finance and banking
products and services, including Division Executive for the National Corporate
Division, he ultimately served as Senior Managing Director, responsible for the
risk management of $80 billion of Citibank's commercial and investment banking
activities in the United States, Europe, Australia and Japan. Mr. Gerard signed
on with Citibank after a seven-year tenure at the American Stock Exchange, where
he last served as Vice President of AMEX's Securities Division. Immediately
prior to joining CBIZ, Mr. Gerard served for three years as Chairman and CEO of
Great Point Capital, Inc., a provider of operational and financial advisory
services to business clients. Mr. Gerard currently serves on the Board of
Directors for Lennar Corporation (NYSE:LEN), Fairchild Corporation (NYSE:FA),
and Aviation Sales Company (NYSE:AVS).
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Century Business Services, Inc. provides outsourced business services to small
and medium-sized companies throughout the United States. The Company offers
integrated services in the following areas: accounting and tax; employee
benefits; wealth management; property and casualty insurance; payroll; IS
consulting; and HR consulting. CBIZ also provides valuation; litigation
advisory; performance consulting; government relations; commercial real estate;
wholesale insurance; healthcare consulting; medical practice management;
worksite marketing; and capital advisory services. These services are provided
throughout a network of more than 200 Company offices in 36 states and the
District of Columbia, as well as through its subsidiary, CBIZ Small Business
Solutions, a franchisor of accounting services with approximately 550 offices in
47 states.
Forward-looking statements in this release are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those projected. Such risks
and uncertainties include, but are not limited to, the Company's ability to
acquire and finance additional businesses; the Company's ability to adequately
manage its growth; the Company's dependence on the current trend of outsourcing
business services; the Company's dependence on the services of its key
employees; competitive pricing pressures; general business and economic
conditions; and changes in governmental regulation and tax laws affecting its
operations. A more detailed description of such risks and uncertainties may be
found in the Company's filings with the Securities and Exchange Commission.
For further information regarding CBIZ, call our Investor Relations Office at
(216) 447-9000 or visit our web site at www.cbiz.com. To receive CBIZ press
releases via e-mail, please write to [email protected].
