Kelly Services Replaces Hospitalized CEO

Camden takes the reins.
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Staffing services provider

Kelly Services

(KELYB) - Get Report

said it replaced chairman and chief executive officer Terence E. Adderley, after doctors concluded he was medically incapacitated.

Adderley was hospitalized following a cardiac incident on Feb. 8.

The company implemented a corporate succession plan, naming Carl T. Camden as CEO. He will also remain on the board of directors. Camden has been serving as acting chief executive since Feb. 9. The company also said that Verne G. Istock, who served as presiding director since Feb. 9, will become non-executive chairman of the board.

"At a difficult time like this, continuity and effective management are more important than ever," the company said. "That is why the board and management team worked together over the past several years to develop contingency plans that will allow Kelly Services to continue to execute its strategic plan in a seamless manner."

Camden joined the company in April 1995 as senior vice president, corporate marketing. He had served as president and chief operating officer and as a member of the Board of the Directors since Nov. 2001.

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