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Hudson replaces board members, avoids proxy contest

May 27, 2014

Hudson Global Inc. (NASD: HSON), a New York-based professional staffing firm, will replace two board members with candidates nominated by a shareholder’s group, avoiding a proxy contest. Robert Dubner and Jennifer Laing will step down from the company’s board of directors following the company’s annual meeting of stockholders on May 29, and Lone Star Value Group’s nominees Jeffrey Eberwein and Richard Coleman will join the board.

“We appreciate stockholder support for the company’s management and transformation plan, and we also respect their desire to add fresh perspectives and stockholder representation on the board,” Hudson Chairman and CEO Manolo Marquez said in an email to employees. “After valuable and constructive conversations with many of them, we have made a decision to put the proxy contest behind us, and prepare to work together with our new directors to continue to build our business and deliver long term value to Hudson clients and stockholders.”

The Lone Star Value Group holds approximately 7.4 percent of the outstanding common stock of Hudson.

Eberwein is the founder and CEO of Old Greenwich, Conn.-based Lone Star Value.

Coleman is president and CEO of Crossroads Systems Inc., a global provider of data archive solutions, where he also serves as a director. He is also founder and president of Rocky Mountain Venture Services, a firm that assists technology companies plan and launch new business ventures and restructuring initiatives.