Business Services Industry
Workflow Management Announces Appointment of Gary W. Ampulski as Chief Executive Officer
Business Wire, March 20, 2003
Business Editors
PALM BEACH, Fla--(BUSINESS WIRE)--March 20, 2003
Workflow Management, Inc. (NASDAQ: WORK), one of the nation's leading outsourcers of printed products announced today that Gary W. Ampulski has been appointed President and Chief Executive Officer effective immediately.
Mr. Ampulski's selection was the result of a process that started in January of this year, when Chairman Thomas B. D'Agostino, Sr. announced that he was retiring as CEO. Since that time, Board member Gerald F. Mahoney has served as interim CEO.
Ampulski brings to the position strong financial performance and hands on experience in printing systems and services. Most recently he served as President and CEO of TAB Products Company, Vernon Hills, Illinois, a publicly held company. There he improved operating results, enhanced the management team, reduced costs and increased shareholder value by more than 175% in less than two years. Prior to leading TAB Products, Ampulski was with Moore Corporation, Ltd. (NYSE: MCL) for eight years as President Moore North America, Inc. and President, Moore Business Communications Services. He has also served as managing partner of a venture capital firm and held senior management positions with the Bell & Howell Company (Chicago, IL), Delphax Systems (Toronto, Ont.), Exxon Enterprises, Inc. (New York, NY) and Xerox Corporation (Rochester, NY).
A native of Grand Rapids, Michigan, Ampulski holds a B.S., M.S. and PhD. degrees in Physics, all from the University of Michigan.
A thorough search led by the Search Committee of the Board of Directors and the executive search firm Heidrick & Struggles, International, involved consideration of a number of outstanding candidates. The Search Committee concluded that Ampulski has the energy, know-how and management experience to lead Workflow's team and achieve the results the Board believes are attainable.
Ampulski stated, "I am gratified to be asked to lead the Workflow Management team. This is a good company with a solid business base. Working together, I am confident we can deliver a higher level of value for all our stakeholders."
The Search Committee emphasized that Ampulski and the Company will benefit from the exceptional leadership shown by Gerald F. Mahoney, who has served as interim CEO since early in the year.
Mr. Mahoney, the former Chairman and CEO of Mail-Well, Inc. (NYSE: MWL), joined the Board only last fall. He volunteered to step into the interim CEO position and achieved a smooth transition and instilled confidence in Workflow's customers and employees throughout the United States and Canada. The Company is pleased that Mr. Mahoney plans to remain on the Board and continue to share his considerable industry knowledge and leadership.
Mr. Mahoney stated, "I echo Gary's sentiments. This is a solid company with wonderful potential and many competent people. I have enjoyed my role as interim CEO and look forward to working with Gary as he takes over as CEO."
About Workflow Management, Inc.
Workflow Management, Inc. is a leading provider of end-to-end print outsourcing solutions. Workflow services, from production of logo-imprinted promotional items to multi-color annual reports, have a reputation for reliability and innovation. Workflow's complete set of solutions includes document design and production consulting; full-service print manufacturing; warehousing and fulfillment; and iGetSmart(TM) - the industry's most comprehensive e-procurement, management and logistics system. Through custom combinations of these services, the Company delivers substantial savings to its customers - eliminating much of the hidden cost in the print supply chain. By outsourcing print-related business processes to Workflow, customers streamline their operations and focus on their core business objectives. For more information, go to our website at www.workflowmanagement.com.
Except for historical information, matters discussed in this press release are forward-looking statements that involve risks and uncertainties, and actual results may be materially different. Factors that could cause actual results to differ include: economic downturns; changes in customer purchasing patterns; risks associated with our debt service and our ability to comply with the terms and covenants of our credit agreement with our lenders; risks associated with future growth; risks associated with acquisitions; change in customer preferences and trends away from print; risks associated with foreign and international business; disruptions in product supplies; decreased availability and increased cost of paper; competition in our markets; loss of key members of our management team; reliance on third parties for maintaining our management information systems; concentration of the Company's common stock; and volatility of the Company's common stock. The information included in this press release is operative as of this date only. Workflow Management, Inc. does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. In order to ensure that all investors continue to have equal access to the same information, Workflow Management, Inc. will refrain from updating projections made in this press release unless it does so through means that are designed to provide broad distribution of the information to the public.
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