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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 10, 2000
PERSONNEL GROUP OF AMERICA, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware 001-13956 56-1930691
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
5605 Carnegie Boulevard, Suite 500
Charlotte, North Carolina 28209
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(Address of Principal Executive Offices)
(Zip Code)
(704) 442-5100
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former name or address, if changed from last report)
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Item 5. Other Events.
Personnel Group of America, Inc. issued a press release on February
10, 2000 (a copy of which is attached as Exhibit 99.1), the contents of which
are incorporated herein by reference.
Item 7. Exhibits.
The following exhibit is filed as part of this report.
Exhibit 99.1 -- Press release dated February 10, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: February 10, 2000
PERSONNEL GROUP OF AMERICA, INC.
By: /s/ KEN R. BRAMLETT, JR.
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Ken R. Bramlett, Jr.
Senior Vice President
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Exhibit Index
Exhibit Exhibit No.
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Press release dated February 10, 2000 99.1
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FOR IMMEDIATE RELEASE Contact: Ken R. Bramlett, Jr.
Chief Financial Officer
PERSONNEL GROUP OF AMERICA NAMES KEVIN EGAN CHAIRMAN
CHARLOTTE, N.C. (February 10, 2000) - The Board of Directors of Personnel Group
of America, Inc. (NYSE:PGA), a leading information technology and professional
staffing services company, today announced that Edward P. Drudge, Jr. has
retired as chairman and chief executive officer and that Kevin P. Egan, a member
of the Board, has been named chairman.
Egan, who has been a director of PGA since 1995, is president of
Tamarack Holdings, an investment company. From 1983 to 1995, he was president
and chief operating officer of PrimeNet DataSystems, a provider of database and
integrated marketing services. Previously he spent eight years in various
executive positions with Manpower, Inc. He also held marketing and management
positions with the Graphic Services Division of 3M Company and Transamerica
Computer Co.
The Board intends to immediately launch a national search for a CEO. In
the meantime, the Board has formed an interim Office of the President, comprised
of James C. Hunt, president and chief operating officer; Ken Bramlett Jr.,
senior vice president and CFO; Michael H. Barker, president, divisional
operations; and Jackie Autry, senior vice president of California IT Operations.
Speaking on behalf of the Board of Directors, Egan said, "Ed was
instrumental in the founding of PGA and in driving the Company's growth over the
past five years. Under his leadership the Company has grown from $143 million in
revenues in 1995 to $918 million in 1999. Ed assembled an excellent management
team, and we are aggressively pursuing our goals for 2000 in both the IT
Services and Commercial Staffing Divisions."
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PGA Names Egan Chairman
February 10, 2000
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Personnel Group of America, Inc. is a nationwide provider of
information technology consulting and custom software development services;
high-end clerical, accounting and other specialty professional staffing
services; and desktop publishing and computer graphics services. The Company
operates through a network of proprietary brand names in strategic markets
throughout the United States.
Information contained in this press release, other than historical
information, may be considered forward-looking in nature and is subject to
various risks, uncertainties and assumptions. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated, estimated or
expected. Among the key factors that may have a direct bearing on PGA's
operating results, performance or financial condition are fluctuations in the
economy, the degree and nature of competition, the demand for PGA's services,
changes in laws and regulations affecting PGA's business, PGA's ability to
complete acquisitions and integrate the operations of acquired businesses, to
recruit, place and retain temporary professionals, to expand into new markets,
and to maintain profit margins in the face of pricing pressures and wage
inflation, and numerous other factors discussed in PGA's filings with the
Securities and Exchange Commission.
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