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General Employment completes PSQ deal

July 13, 2009

General Employment Enterprises Inc. (AMEX: JOB) announced earlier this month that PSQ LLC completed its acquisition of 7.7 million shares for a total purchase price of $1.9 million, and the company announced changes to its management and board.

Ronald Heineman was appointed as CEO and president, replacing Herbert Imhoff Jr. In addition, Sheldon Brottman, Edward Hunter, Thomas Kosnik and Kent Yauch stepped down from the board. They were replaced by Stephen Pence, Charles "Chuck" W.B. Wardell III and Jerry Lancaster.

Pence was also named as chairman of the board. Imhoff stepped down from the position of chairman, but will remain on the board.

Also, today, General Employment Enterprises announced that it added Thomas Williams, vice chairman of Capital Management of Bermuda, as another member of its board. Williams is also CEO of Innova Insurance Ltd.