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Kelly Services Chairman Terence Adderley retires after more than 60 years at firm

September 19, 2018

Kelly Services Inc. (NASD: KELYA) announced Chairman Terence “Terry” Adderley — who has been with the company for more than 60 years — retired from his role as board chairman effective Sept. 17. He remains the controlling shareholder.

Donald Parfet, a Kelly board member since 2004 and lead director since 2012, will step into the position. Since Parfet is an independent director, the board will not have a lead director during Parfet’s tenure as chairman.

Gerald Adolph replaces Adderley as a member of the company’s corporate governance and nominating committee. George Corona remains president and CEO of Kelly Services and a member of Kelly’s board of directors.

Adderley is also the son of company founder William Russell Kelly.

“I am proud to have been a part of Kelly for more than 60 years and honored to have followed in the footsteps of my father, William Russell Kelly, who launched the temporary staffing industry,” Adderley said. “I am confident the company remains in good hands and that Kelly will continue to grow and prosper under the proven leadership of both George and Don.”

Adderley joined Kelly Services in 1958 as manager of its office in Louisville, Ky. He was elected VP of the company in 1961, executive VP in 1965, president in 1967, and CEO in 1989. He has served on the company’s board of directors since 1962, was elected chairman in 1998, and executive chairman and chairman of the board in 2012, dual roles he held until May 2018. Adderley continued to serve as Kelly’s board chairman until his retirement.

In addition to his new role as Kelly’s chairman of the board, Parfet leads business development and venture capital firms focused on the development of emerging medicines. He also serves as a director of two large publicly held companies, and as the chairman of the board of a small publicly held company.