IT staffing provider TSR Inc. (NASD: TSRI) announced founder, chairman and CEO Joseph Hughes retired as an executive officer and director of the company effective July 5. Hughes founded TSR — originally Time Sharing Resources Inc. — in 1969, bringing the company public in 1970.

The board of directors elected Christopher Hughes, Joseph Hughes’ son, as the company’s chairman, president, CEO and treasurer. Christopher Hughes has worked for the company for more than 25 years, serving as the senior VP of the company since 2007 and as a director of the company since January 2005.

The board also appointed Regina Dowd, daughter of Joseph Hughes, as a Class I director to fill the vacancy created as a result of Joseph Hughes’ retirement. Dowd’s term as a will expire at the company’s 2018 annual meeting.

“As a significant stockholder of the company, I am confident that the succession plan we have developed will serve the company and its stockholders well in the future,” Joseph Hughes said in his resignation letter.

TSR is based in Hauppauge, NY, and posted revenue of $15.4 million in its fiscal third quarter ended Feb. 28. The company in May rejected a proposal from shareholder Zeff Capital LP to acquire all outstanding shares of the company’s common stock.

“We regretfully accept Joe’s resignation,” said Chris Hughes. “Joe’s vision, innovative spirit, amazing intellect and relentless work ethic have shaped TSR’s evolving business model while building its corporate culture and successful growth since he founded the company in 1969.”