Kelly Services® Announces the Retirement of Terence E. Adderley as Chairman of the Board
“I am proud to have been a part of Kelly for more than 60 years and honored to have followed in the footsteps of my father,
“It is with a deep sense of gratitude that I thank Terry for his leadership and guidance over the years,” Corona said. “Terry has served Kelly with distinction during his tenure, and his presence – both on the board and as its chairman – will be greatly missed. I am also proud to work for a company whose values are built on a tradition of integrity, quality, and service excellence.”
“We are tremendously proud of Terry, who was Kelly’s longest-serving CEO,” said Parfet. “Terry guided
Terry’s love for the business and dedication to its employees and clients were evident as he continued to apply his considerable skill and acumen in advancing the company’s business activities well into his 80s. He also found time to play an active role in giving back to the community, was a strong supporter of the
Parfet, Kelly’s lead director since 2012, has extensive financial and operating experiences as an executive with responsibilities for numerous global businesses. In addition to his new role as Kelly’s chairman of the board, Parfet leads business development and venture capital firms focused on the development of emerging medicines. He also serves as a director of two large publicly held companies, and as the chairman of the board of a small publicly held company. A Kelly board member since 2004, Parfet has brought global operating experience, a strong financial background, and proven leadership capabilities to the board.
Adderley, son of the company’s founder,
Throughout his 60+ years with Kelly, Adderley’s commitment to the company, its employees, and the industry has never wavered. Key highlights of Adderley’s celebrated career at Kelly include:
Taking Kelly Services Public
Kelly expanded rapidly in the 1950s and early 1960s, growth that challenged the boundaries of the company’s financial systems and controls. With Adderley’s strong background in finance, he quickly recognized that sustained growth demanded stronger financial controls and he took on the task of reorganizing Kelly’s finance functions. He then added another level of discipline by taking the company public in 1962.
Bringing Discipline and Respect to the Staffing Industry
Temporary staffing was still a relatively new concept in the late 1940s and 1950s, and U.S. federal and state governments were struggling with how best to regulate the industry. In response to abuses caused by some unethical companies, state governments began to classify temporary service companies as employment agencies; these businesses were heavily regulated because abuse was prevalent in that industry. Adderley was concerned that classifying companies as employment agencies could put Kelly and other staffing companies out of business, or at a minimum, limit their growth. He worked alongside representatives from Manpower and other firms to eliminate these laws and regulations. This work led to the creation of a national association in 1966 – the
In 2006, Adderley was honored with the ASA’s staffing industry
Large Company Focus
In the early 1990s, competition had gotten much tougher and large companies’ use of temporary staff had increased to the point that it was often a budget line item. No longer could the expense be ignored and purchasing departments became more involved in the decision-making. Recognizing that Kelly needed to adapt to these trends, the Company made a fundamental decision to redirect its sales and service focus to larger accounts. Adderley led the initiative to create a new model that would help companies gain insight into their staffing spend and the companies that were providing their contingent talent.
A native of
Throughout his distinguished career,
Adderley served on the boards of the Business Leaders for
As a global leader in providing workforce solutions,
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Source: Kelly Services, Inc.