CDI Corp. announces leadership transition
She is leaving to pursue other, non-competitive, business interests. Executive Vice President and CFO Robert Larney has agreed to act as interim President and CEO while the Board of Directors initiates an executive search for a permanent replacement. CDI Corp. is a multinational company with six decades of experience delivering engineering and technology solutions and recruitment and staffing services to businesses with operations around the globe.
"In her time as CEO, Paulett set a new strategic direction, restored profitability, improved the balance sheet, and strengthened the cash position of CDI," said Walter Garrison, Chairman of the CDI Board of Directors and the founder of the company. "In recent months, Paulett and the executive leadership team have put in place a strategic direction and structure that moves our organization forward by improving accountability and further optimizing the cost structure."
This announcement comes at a time of financial health and stability for the company, allowing for a smooth transition. Aiding in the leadership transition is Executive Vice President and CFO Larney, who while not a candidate for the CEO position, has agreed to serve as the interim president and CEO. Once a candidate is selected and is in place Larney will return to the duties as CFO for the company. Larney joined CDI in 2011, previously serving as Senior Vice President and Chief Financial Officer of Tekni-Plex, Inc. He has also been Chief Financial Officer for publicly-traded Foamex International, Inc., Executive Vice President and CFO of the Americas for Rieter Automotive Systems, and CFO for the privately-held Lutron Electronics, Inc.
"We have sound leadership in our business units headed by Stuart Batchelor and William Wasilewski. Our direction is clearly set and the leadership team has the focused attitude needed to execute our plan and grow the value of our business," said Garrison.