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On Assignment Inc. (NASD: ASGN) named Edward Pierce as its new CFO and executive vice president. Pierce is stepping down from On Assignment’s board to take the CFO role. He had served on the board since 2007.
Former CFO Jim Brill is taking on a new role as senior vice president, chief administrative officer and treasurer. Brill will be responsible for human resources, risk management, treasurer functions and will continue to assist with investor relations.
The background for new CFO Pierce includes work with a Chicago-based private equity firm and a previous role as president of First Acceptance Corporation, an auto insurance firm.
On Assignment named Marty Kittrell to replace Pierce as board member and chairman of the board’s audit committee. Kittrell currently serves as a director and chairman of the audit committee of NiSource Inc., a Fortune 500 company that is engaged in natural gas transmission, storage and distribution. Kittrell also served as CFO at Dresser Holdings Inc. and held executive positions at several other firms.
“As On Assignment continues to grow in terms of size and complexity, it is critical that we expand our existing management team and allocate resources into the roles that make the most sense for the current needs of the company,” said Peter Dameris, president and CEO of On Assignment.
“Jim has done an incredible job as chief financial officer over the last five years and his efforts have helped the company go from $280 million to $1.5 billion in revenue,” Dameris said. “In his new role, Jim’s many years of experience as a commercial banker will be invaluable as we aggressively move to maximize our cash generation, pay down debt and enhance our capitalization. In addition, as more demands are made on my time, I need a trusted leader to handle administration.”
On Assignment provides healthcare, information technology, engineering and clinical/scientific staffing. It acquired Apex Systems in May. Apex ranked as one of the fastest-growing and largest IT staffing providers.