Staffing 360 Solutions realigns organisational structure
Staffing 360 Solutions, Inc. has announced a new organisational structure that reflects the company’s expanding global staffing industry presence and supports management’s commitment to achieving sustainable, profitable enterprise-wide growth beginning in 2018.
“2017 was a transformative year for our Company,” said Brendan Flood (pictured), chairman and CEO. “We significantly expanded our global footprint organically and via acquisitions, successfully refinanced and streamlined our balance sheet, positioned the Company to generate positive cash flow beginning in 2018, and advanced towards our goal of becoming a $500 million revenue company within the next two years.
“For the better part of the last two years, I have been largely focused on addressing issues related to our overall financial position.
“With the support of a strong team, board of directors, strategic investors and advisors, many of these issues have been addressed and the Company has continued to grow. Although additional initiatives are underway, we believe that STAF 360 is now in the best position in its history to sustainably and profitably capitalize on a growing number of opportunities in the global staffing industry. To this end, we have undertaken a strategic review of our operations and put in place a new organizational structure that reflects our growth and evolution as a company, and will, we believe, allow us to generate long-term shareholder value.”
Effective immediately, STAF 360 will re-organise into three distinct business segments: Commercial staffing (US), professional staffing (UK) and professional staffing (US). Each of these businesses will be led by a dedicated president, reporting directly to Flood.
The company says these three businesses have distinct marketing strategies, customer profiles, and labour force characteristics. Reflective of this, each will be managed by experienced industry professionals who can address the individual operating requirements of their respective segments, while adhering to STAF 360’s high corporate standards of client service and operational excellence. It is expected that these changes will enhance customer focus, drive revenue growth, maximize efficiencies, and support accountability and ownership.
Paul Polito has been named president of the commercial staffing segment effective immediately. Polito, a 20-year staffing industry veteran, had served as vice president of operations for STAF 360’s Monroe Staffing subsidiary since 2012. He joined Monroe in January 2001.
Flood commented, "Paul has spent the last 16 years helping to drive growth at Monroe, and represents the best of STAF 360’s talent pool.
“He is an expert manager with deep industry experience and know-how, and is an individual who exemplifies our shared values, ideals, and objectives. I expect Paul’s transition to his new role will be seamless, and look forward to our collaboration.”
An executive search is currently underway for the professional staffing (UK) and professional staffing (US) segments. In the interim, these segments will be led by Flood. Internal candidates are also being evaluated for the roles.
STAF 360 also announced that Matt Briand, its president and CEO will leave the Company effective 31st January 2018, to pursue other business and personal interests. Flood will become chairman and CEO of the Company, effective immediately.
Flood stated, “Matt has been instrumental in the growth and success of STAF 360, specifically at Monroe Staffing.
“He has been a wonderful partner and colleague, and I wish him every success in his future endeavors.”