14.09.2005 20:31:00
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Kronos(R) Announces Executive Succession Plan; Mark Ain to Become Executive Chairman; Aron Ain to Become Chief Executive Officer; Paul Lacy to Become President
"This change is a very important and exciting milestone in ourplan to evolve the top leadership of Kronos to ensure the company'scontinued growth. Kronos is the leader in workforce management with astrong track record of innovation and performance. This organizationalprogression gives us the best leadership structure to continue on thispath of success," said Mark Ain. "Aron and Paul are tested leaders whoare highly respected by our employees, customers, partners, andshareholders. Their skills will be invaluable in taking Kronos to thenext level."
Aron Ain, Kronos' chief operating officer since 2002, joinedKronos in 1979. Serving in various sales and service management rolesfor much of his tenure at Kronos, he led the development of thecompany's worldwide field organization. Ain has been an executiveofficer of the company since 1988. As chief operating officer, Ain hasbeen instrumental in driving operational excellence across all ofKronos' business operations, and has had direct responsibility forKronos' engineering and marketing organizations, as well as forworldwide sales and service. In his new role, Ain will bring newenergy and passion for Kronos' total business operations, and directlylead the company's strategy to become the global leader in workforcemanagement.
Paul Lacy joined Kronos in 1988 and most recently served asexecutive vice president and chief financial and administrativeofficer. In his new role, he will assume the responsibilities ofpresident, and will also continue to be responsible for overseeing thecorporate-wide finance, legal, information technology, manufacturing,human resources, and administrative functions of the company. Inaddition, Lacy will be responsible for the company's investorrelations, strategic planning, and business development activities.During his tenure at Kronos, Lacy has been instrumental in makingsignificant improvements in Kronos' financial and administrativefunctions, and in building Kronos' relationships with the investmentcommunity.
As executive chairman of the Board, Mark Ain will remain engagedin Kronos operations, and will continue to make significantcontributions to the business. Keeping in stride with other visionaryentrepreneurs in the technology industry, Ain will maintain this levelof involvement in his role of executive chairman.
"Mark's visionary thinking and inspiring leadership have beeninstrumental in building Kronos into one of the best performingcompanies in the history of the software industry," said Aron Ain. "Weare very pleased that Mark will remain part of the company'sleadership, so that we will continue to benefit from his advice,counsel, and far-reaching industry influence."
"We owe a great deal of gratitude to Mark for not only foundingKronos, but also for his enormous contributions in shaping theworkforce management market over nearly three decades," said PaulLacy. "Mark is leaving the position of chief executive officer at atime when Kronos is extraordinarily well positioned for futuresuccess."
About Kronos Incorporated
Kronos Incorporated is the most trusted name in workforcemanagement. Kronos helps organizations staff, develop, deploy, track,and reward their workforce, resulting in reduced costs, increasedproductivity, better decision-making, improved employee satisfaction,and alignment with organizational objectives. More than 20 millionpeople use a Kronos solution every day. Learn more about Kronos'high-impact enterprise solutions at www.kronos.com.
(C) 2005 Kronos Incorporated. Kronos and the Kronos logo areregistered trademarks of Kronos Incorporated or a related company. Allother product and company names mentioned are used for identificationpurposes only and may be trademarks of their respective owners.
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