Published on January 21, 2011
Exhibit
99.1
NEWS
RELEASE
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For
Immediate Release
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Contact:
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Michael
Elich
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Interim
President and
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||
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Chief
Executive Officer
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Telephone:
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(360)
828-0700
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BBSI
ANNOUNCES
THE UNTIMELY DEATH OF ITS CHAIRMAN AND CEO
VANCOUVER, WA, January 20, 2011 –
Barrett Business Services, Inc. (Nasdaq: BBSI) announced that William
Sherertz, the company's Chairman and CEO, passed away this morning
unexpectedly. Mr. Sherertz was 64 years old. He had been
hospitalized recently for treatment of respiratory failure.
The Board of Directors issued the
following statement: “We are shocked and greatly saddened by the passing of Bill
Sherertz. He was a visionary leader, a devoted father to his children
and a good friend. The company's directors and employees, as well as
the many people he worked with and mentored over the years, mourn his
loss. We extend our sympathies to his family, particularly his wife
and four children, who meant the world to him.”
The Board of Directors appointed
Michael Elich, who has been with the company for nearly 10 years, including the
past five years as its Chief Operating Officer, as Interim President and Chief
Executive Officer. Before joining BBSI, Mr. Elich was chief operating
officer of Skills Resource Training Center, a staffing services company with
offices in Idaho, Oregon and Washington. The Board of Directors also
appointed long-time outside director Anthony Meeker as Chairman of the
Board. Mr. Meeker served for seven years as Treasurer of the State of
Oregon and retired in 2003 as a Managing Director of Victory Capital Management,
Inc. He also served as chairman of the board of First Federal, a
federally chartered savings bank headquartered in McMinnville,
Oregon.
Mr. Meeker commented, "I am honored to
serve as BBSI's newly appointed independent Chairman. Over the years,
Bill built an exceptional executive management team with long tenures at the
company. This team, led by Mike Elich, has been in charge of
day-to-day operations since Bill's original illness in mid-2008."
Conference
Call
A conference call will be held at 10
a.m. Pacific time on Friday, January 21, 2011, at which Tony Meeker, Mike Elich
and Jim Miller, the company's Chief Financial Officer, will be on hand to answer
investors' questions. To participate in the call, dial (877)
214-1511. The call identification number is 39124191. The
conference call will also be webcast live at www.barrettbusiness.com. To
access the webcast, click on the Investor Relations section of the Web site and
select Webcast. A replay of the call will be available beginning
Friday, January 21, 2011, at 1:00 p.m. PT and ending on Friday, January 28,
2011. To listen to the recording, dial (800) 642-1687 and enter
conference identification code 39124191.
Barrett
Business Services, Inc.
Special
News Release
January
20, 2011
A conference call to discuss fourth
quarter 2010 operating results will be held in early
February. Details for participating in the call will be announced
next week.
BBSI provides a comprehensive range of
human resource management solutions to large and small companies throughout many
regions of the United States.
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