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CDI Corp. names new CFO

January 27, 2015

CDI Corp. (NYSE: CDI) announced Michael Castleman will take over as CFO following the filing of the company’s SEC Form 10-K earnings report for 2014 in early March. He assumed day-to-day responsibilities for financial operations and management and will continue to lead corporate development and operational analytics at CDI. Castleman will replace current CFO Robert Larney, who is leaving to pursue other opportunities.

Castleman is currently executive VP, corporate development and operations, and has led CDI’s enterprise analytics and performance optimization, as well as corporate development via partnerships, mergers and acquisitions. Prior to joining CDI, Castleman was president of Kenmore Craftsman and Diehard brands at Sears Holdings Corp. Previously, Castleman founded or co-founded several investment firms, including Lehman Brothers Venture Partners, where he served as managing director and co-head. He also has served as a director or board advisor to multiple companies.

Castleman is one of several former Sears execs to join CDI in 2014, including current CDI CEO Scott J. Friedman.

“Michael is an experienced financial and operating executive with the skills, integrity and commitment needed to build on CDI’s strengths and maximize long-term value,” said Freidheim.

CDI’s board last month approved a restructuring plan and the company expects to take a restructuring charge of between $3.2 million and $3.9 million in the fourth quarter.

The company ranks No. 21 on the US list of largest staffing and talent engagement firms. CDI also ranks No. 6 on the list of largest US engineering staffing providers, and No. 16 on the list of largest US providers of IT staffing.