Brief: Moduslink Global solutions announces series of corporate realignment, appointed Jim henderson as CEO
20/06/2016 16:00
June 20 (Reuters) - Moduslink Global Solutions Inc MLNK.O
* Unveiled a series of corporate realignment and
process-driven initiatives aimed at returning company to
profitability
* As part of plan, board of directors has appointed warren
lichtenstein , executive chairman of company
* Jim henderson , who was appointed in may as CEO of
Moduslink Corporation, will now also serve as CEO of Co
* Moduslink global solutions inc says Louis J. Belardi has
been appointed CFO of company and Moduslink Corporation
* Intends to invest about $20.0 million over coming year in
specific actions that are expected to improve annualized EBITDA
* Programs unveiled will be funded with cash on
hand,proceeds from sale of moduslink corp owned real
estate,existing bank facilities
* Cost savings, gross margin enhancements expected to be
realized by closure of taiwan facility, among other things
* Expects it will be in position to reduce its employee
count by 17% over coming year
* Anticipates it will incur restructuring charges of
approximately $12.0 million in its q4 of fiscal 2016
* Moduslink global solutions inc says company believes it
will generate annualized cost savings of approximately $12.0
million
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