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Spherion Announces New Executive Responsibilities to Further the Company's Business Transformation Initiatives

FT. LAUDERDALE, Fla., August 2, 2001 – Spherion Corporation (NYSE: SFN), a recruitment and outsourcing solutions provider, today announced new roles and responsibilities for members of its management team to further Spherion’s business transformation initiatives. Spherion Chief Executive Officer and President Cinda Hallman said the appointments place executives in positions dedicated to producing results in areas of increased focus for the Company.

 

"These appointments are an important step in focusing our business to achieve greater predictability, productivity and profitability as we grow Outsourcing and grow and transform Recruitment," said Hallman.

 

Chip Grissom, senior vice president of operations for the Staffing Group, will be responsible for immediately implementing actions that came out of the Company’s recently completed operational excellence review. These actions are designed to optimize Spherion’s presence in key markets and result in increased profitability and productivity of Recruitment, including staffing, the Company’s largest business. Grissom was selected for this role because of his significant involvement in the Company’s operational excellence review and his years of general management experience.

 

Mark Smith, vice president of business services, will assume responsibility for putting infrastructure and processes in place that will significantly increase the efficiency and effectiveness of Spherion’s shared service functions. Smith was selected for this role because of his expertise in managing the integration of accounting and back office functions.

 

Shannon Russo, treasurer and vice president of strategic development, will lead Spherion’s strategic initiatives focused on evaluating and improving the return of invested capital for the Company’s operations. Russo was selected for this role because of her extensive background in corporate finance, treasury, M&A and capital structuring.

 

Roberta Marcantonio, vice president of field service excellence, will implement best practices and metrics to maximize productivity across all businesses. Marcantonio was selected for this role because of her expertise in developing system requirements, standardizing business processes and her management experience with Spherion’s field operations.

 

About Spherion

 

Spherion Corporation provides Recruitment, Outsourcing and Technology services. Founded in 1946, with operations in North America , Europe and Asia/Pacific, Spherion helps companies efficiently plan, acquire and optimize talent to improve their bottom line. Visit the Company’s Web site at www.spherion.com.

 

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. Factors that could cause future results to differ from current expectations include risks associated with the Company’s ability to implement its new corporate strategy, acquisitions, competition, changing market and economic conditions, currency fluctuations and additional factors discussed in this release and in Spherion’s filings with the Securities and Exchange Commission. The Company’s actual results may differ materially from any projections contained in this release.

Media Contact:

 

Patricia Johnson     

 

(800) 422-3819

 

Investor Contact:     

 

Teri Miller     

 

(954) 351-8216

 

Media Contact

Lesly Cardec

954.308.6302

 

leslycardec@sfngroup.com

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