ATLANTA, Jan. 23, 2015 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), the world's leading provider of recovery audit services and the pioneer in Profit DiscoveryTM, announced today that Catherine Lee has been named Senior Vice President – Human Resources. Ms. Lee joins the Company from Swiss-based ABB, a global leader in power and automation technologies, where she held the role of Global Vice President of Human Resources for the software product group. Prior to ABB, Ms. Lee served in human resources leadership positions at a number of leading companies, including Medtronic, Raytheon and Sun Microsystems, where she led organizational transformation and change initiatives.
"We are very excited to have Catherine join the PRGX team," said Ron Stewart, President and Chief Executive Officer. "We look forward to leveraging her deep human resources knowledge and prior experience for the benefit of the Company and its employees worldwide."
In connection with Ms. Lee's employment, on January 19, 2015, the Company granted equity awards to Ms. Lee consisting of 5,000 shares of restricted stock, as well as options to purchase 25,000 shares of the Company's common stock. The restricted stock and options will vest in equal one-third increments on each of January 19, 2016, January 19, 2017 and January 19, 2018, subject to Ms. Lee's continued employment with the Company. Options vesting in 2016, 2017 and 2018 will have exercise prices equal to $5.30, $5.83 and $6.36 per share, respectively. The restricted stock and options also vest in full in the event of a change in control of the Company, provided Ms. Lee 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 Ms. Lee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
About PRGX Global, Inc.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world's leading provider of accounts payable recovery audit services. With over 1,500 employees, the Company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 20 global retailers. PRGX is also pioneering Profit Discovery, a unique combination of audit, analytics and advisory services that improves client financial performance. For additional information, please visit PRGX at www.prgx.com.