Appointment of Ten-Year Company Finance Veteran Follows Resignation
of Jeffrey Pritchett; Company Maintains Full-Year Outlook
Inc. (NASDAQ: INWK), the leading global marketing execution firm,
today announced that Charles "Chip" Hodgkins, Senior Vice President,
Corporate Development and Strategic Initiatives, has been appointed
Interim Chief Financial Officer, effective December 6, 2017.
Mr. Hodgkins' appointment to the role follows the departure of former
Chief Financial Officer Jeffrey P. Pritchett, who resigned from the
Company, effective immediately, due to personal matters inconsistent
with Company policy. Mr. Pritchett's departure was not related to the
Company's business, operations, financial performance, or financial
reporting. The Company intends to undertake a search for a new Chief
Financial Officer and will be considering both internal and external
"Chip is one of our brightest and most effective finance executives, and
it's my pleasure to welcome him to the Interim CFO role after working
closely with him over the course of his 10 years with the Company," said
Eric D. Belcher, Chief Executive Officer of InnerWorkings. "The Board
and I are confident that Chip will effectively lead our finance function
during this interim period based on his deep knowledge of our business
and his track record of successfully leading numerous finance and
operational initiatives. As Chip steps into this new role, he will also
benefit from a talented supporting cast within our finance team,
including Will Atkins, who has been with the Company for the past six
years and was recently promoted to Principal Accounting Officer."
Since assuming his current role with InnerWorkings in 2014, Mr. Hodgkins
has taken on increasing responsibilities in finance and operations,
including for the Company's supplier relations, accounts payable,
logistics, and strategic sourcing teams, and he has been instrumental in
driving numerous strategic initiatives within the organization.
Previously, Mr. Hodgkins led the Company's global mergers and
acquisitions efforts from 2007 to 2013, completing dozens of
acquisitions during this seven-year period. Before joining
InnerWorkings, Mr. Hodgkins worked in investment banking and venture
Full-Year 2017 Outlook
The Company is also reaffirming its previously disclosed full-year
outlook, which was issued on November 7, 2017. The Company anticipates
2017 gross revenue in the range of $1.115 billion to $1.145 billion,
non-GAAP adjusted EBITDA in the range of $65.0 million to $68.0 million,
and non-GAAP earnings per diluted share in the range of $0.47 to $0.50.
Mr. Belcher concluded, "2017 is on track to be a record year for our
Company on both the top and bottom lines. We have a large backlog of new
business awards, which, when combined with our strong pipeline,
positions us well for 2018 and beyond."
This release contains statements relating to future results. These
statements are forward-looking statements under the federal securities
laws. We can give no assurance that any future results discussed in
these statements will be achieved. Any forward-looking statements
represent our views only as of today and should not be relied upon as
representing our views as of any subsequent date. These statements are
subject to a variety of risks and uncertainties that could cause our
actual results to differ materially from the statements contained in
this release. For a discussion of important factors that could affect
our actual results, please refer to our SEC filings, including the "Risk
Factors" section of our most recently filed Form 10-K.
InnerWorkings, Inc. (NASDAQ: INWK) is the leading global marketing
execution firm serving Fortune 1000 brands across a wide range of
industries. As a comprehensive outsourced enterprise solution, the
Company leverages proprietary technology, an extensive supplier network
and deep domain expertise to streamline the production of branded
materials and retail experiences across geographies and formats.
InnerWorkings is headquartered in Chicago, IL and employs approximately
1,900 individuals to support global clients in the execution of
multi-faceted brand campaigns in every major market around the world.
InnerWorkings serves many industries, including: retail, financial
services, hospitality, consumer packaged goods, nonprofit, healthcare,
food & beverage, broadcasting & cable, automotive, and transportation.
For more information visit: www.inwk.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171206006332/en/
Source: InnerWorkings, Inc.
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