ATLANTA, March 23, 2018 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced that Julian Sparkes has been named Vice President, Alliance & Channels, responsible for recruiting and onboarding private equity, consulting firms and other strategic partners to drive business development, and for executing co-marketing initiatives with those strategic partners to accelerate the Company’s growth. Prior to joining the Company, Mr. Sparkes served as Partner – Sales & Strategy for M9 Solutions, a staffing and consulting firm, responsible for teaming with Fortune 100 companies to implement and manage programs associated with agile enterprises, digital transformation, integrated platforms and supply chain automation. Before M9 Solutions, Mr. Sparkes served as Vice President – GBS Sales & Delivery for IBM , and prior to that he was a Partner with Diamond Management and Technology Consultants. From 1983 through 2004, Mr. Sparkes held a series of roles with Accenture , including Managing Partner and Partner in London, England and Atlanta.
“We are excited to have Julian join the PRGX team and are eager to apply his in-depth experience, skills and knowledge to drive results for our Company and our stakeholders,” said Daryl Rolley, Senior Vice President and Chief Commercial Officer.
In connection with Mr. Sparkes’ employment, on March 19, 2018, the Company granted equity awards to Mr. Sparkes 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 March 19, 2019, March 19, 2020, and March 19, 2021, subject to Mr. Sparkes’ continued employment with the Company. The options have an exercise price of $9.15 per share. The options will vest in full in the event of a change in control of the Company, provided Mr. Sparkes 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. Sparkes 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 transformation strategy and alliance/strategic partner program, 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.
Daryl Rolley, Senior Vice President and Chief Commercial Officer
600 Galleria Parkway, Suite 100
Atlanta, GA 30339