ATLANTA, April 05, 2018 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced that Andy Brabender has been named Vice President, New Business Development, responsible for leading new business development in North America for the Company’s commercial (non-retail) business. Prior to joining the Company, Mr. Brabender served as Executive Vice President of Global Sales for ServiceChannel.com, Inc., a facilities management SaaS solutions provider, where he was responsible for a high growth sales organization. Prior to ServiceChannel.com, Mr. Brabender was Enterprise Sales Director for GEP Worldwide, a leading provider of procurement solutions, where he was responsible for sales in the Midwest and West regions. Before GEP, Mr. Brabender served as an Account Executive for Ariba, Inc.
“We are excited to have Andy join PRGX and look forward to putting his sales leadership knowledge and skills to work for our Company and stakeholders,” said Doug Halka, Vice President and GM – Commercial.
In connection with Mr. Brabender’s employment, on April 2, 2018, the Company granted equity awards to Mr. Brabender consisting of options to purchase 15,000 shares of the Company’s common stock. The options will vest in equal one-third increments on each of April 2, 2019, April 2, 2020, and April 2, 2021, subject to Mr. Brabender’s continued employment with the Company. The options have an exercise price of $9.30 per share. The options will vest in full in the event of a change in control of the Company, provided Mr. Brabender remains continuously employed by the Company until such event.
The grants were approved by the compensation committee of the Company's board of directors, which committee is comprised solely of independent directors, and were granted as an inducement material to Mr. Brabender entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
PRGX Global, Inc. is a global leader in Recovery Audit and Spend Analytics services. With over 1,500 employees, the Company serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 30% of the top 50 companies in the Fortune 500. PRGX delivers more than $1 billion in cash flow improvement for its clients each year. The creator of the recovery audit industry more than 40 years ago, PRGX continues to innovate through technology and expanded service offerings. In addition to Recovery Audit, the Company provides Contract Compliance, Spend Analytics and Supplier Information Management services to improve clients’ financial performance and manage risk. For additional information on PRGX, please visit www.prgx.com.
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company's overall condition and growth prospects, the Company’s execution of its business strategy, and the Company’s investments in, and opportunities associated with, its recovery audit, supplier information management and source-to-pay analytics services. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company's future performance include revenue that does not meet expectations or justify costs incurred, the Company's ability to develop material sources of new revenue in addition to revenue from its core recovery audit services, changes in the market for the Company's services, the Company's ability to retain and attract qualified personnel, the Company's ability to integrate recent and future acquisitions, uncertainty in the credit markets, the Company's ability to maintain compliance with its financial covenants, client bankruptcies, loss of major clients, and other risks generally applicable to the Company's business. For a discussion of other risk factors that may impact the Company's business, please see the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligation or duty to update or modify these forward-looking statements.
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CONTACT: PRGX Global, Inc.
Doug Halka, Vice President and GM – Commercial
600 Galleria Parkway, Suite 100
Atlanta, GA 30339
Source:PRGX Global, Inc.