DENVER, Oct. 17 /PRNewswire/ -- TeleTech Holdings, Inc. (Nasdaq: TTEC), a
leading global provider of customer relationship management (CRM) services and
solutions, today announced that its Board of Directors appointed two key
The first appointment was to elect James E. Barlett as TeleTech's Vice
Chairman. Barlett, age 57, was elected a member of TeleTech's Board of
Directors in February 2000. He joins TeleTech from Galileo International,
Inc., where he served as Chairman, President and Chief Executive Officer (CEO)
since 1997 and as President and CEO since 1994. He will be located at
TeleTech's headquarters in Denver, Colorado and assume his full time position
As Vice Chairman, Barlett will assume an active role in TeleTech's
day-to-day operations working directly with the company's four regional
general managers in North America, Asia Pacific, Europe and Latin America.
Barlett will also assume responsibility for Percepta, TeleTech's joint venture
with Ford Motor Company, and for Newgen, TeleTech's database marketing
The second appointment was to elect Kenneth D. Tuchman, TeleTech's founder
and Chairman, as its permanent CEO. Tuchman founded TeleTech in 1982 and
under his leadership the company went public in 1996 with revenues of $183
million and operations in four countries. At the end of 2000, TeleTech had
revenues of $885 million and operations in 12 countries, representing a
compounded annual revenue growth rate of 48 percent over the four-year period.
As Chairman and CEO, Tuchman, age 41, will work in close partnership with
Barlett and have primary responsibility for strategic vision, sales,
marketing, business development, legal, finance and administration.
The TeleTech Board believes that Tuchman and Barlett bring complementary
strengths to the business. The combination of Tuchman's entrepreneurial
spirit, long-term vision, twenty years of experience in the CRM industry and
close attention to the financial details of the business with Barlett's proven
track record, industry relationships and operational know-how will create an
unparalleled leadership team.
"I am committed to leading TeleTech for the long-term and will remain
fully engaged in its ongoing operations," stated Ken Tuchman, TeleTech's
Chairman and CEO. "Since I assumed the role of interim CEO in March of this
year, we have made tremendous progress in returning to a 'back to basics'
strategy. We remain sharply focused on reinvigorating the sales pipeline and
have successfully reduced operating costs and capital spending to position the
company for renewed growth in 2002."
"Jim and I have enjoyed a close professional relationship for the last
three years. He is a world class leader and one of the most energetic and
customer-focused executives I know," continued Tuchman. "As Vice Chairman, we
will continue to benefit from his technological expertise, international savvy
and extensive relationships in the automotive, banking, consulting, technology
and travel and leisure industries. With Jim sharply focused on our day-to-day
operations, I will devote more time to our long-term vision and strengthening
new and existing client relationships. I have tremendous respect for and
trust in Jim and look forward to continuing to work in close partnership with
him on a daily basis. We are excited about the tremendous market opportunity
ahead and are firmly committed to strengthening our leadership position in
this dynamic industry."
"Jim is a highly respected individual and his vision for TeleTech is
closely aligned with mine," Tuchman added. "Under Jim's direction, Galileo
became an industry leader by leveraging technology to increase market share
and centralize operations, thereby reducing costs and improving shareholder
returns. With 30 years of international experience, and a proven ability to
drive shareholder value, we believe Jim will be instrumental in further
strengthening our industry position."
"Having been a TeleTech Board member for nearly two years, I am well aware
of how TeleTech has established itself as both a market and thought leader in
the industry," stated Barlett. "Today, TeleTech serves seven of the Fortune
10 companies. I believe this is a strong endorsement of TeleTech's value
proposition and its proven track record in assisting large companies in
building greater brand recognition and customer loyalty by providing the
highest levels of CRM services. In this uncertain economic environment I am
convinced that TeleTech has the right offer at the right time to continue to
help Global 500 companies increase market share and build brand leadership."
"I have been an active TeleTech Board member and over that time have met
many TeleTech clients and employees," Barlett continued. "I am excited by the
passion of TeleTech's employees, their commitment to its future and their
desire to continually drive higher levels of client satisfaction. I look
forward to working closely with Ken and the TeleTech team on a full-time basis
to help continue to build TeleTech into a multi-billion enterprise and
delivering ongoing value to its shareholders."
Prior to today's announcement, Barlett's career has been marked by
significant achievements in the travel services, banking and consulting
industries. Most previously, Barlett had been Chairman, President and CEO of
Galileo International, Inc., the world's leading provider of electronic global
distribution services for the travel industry through its computerized
reservation systems and leading-edge products. Under Barlett's leadership,
Galileo's revenues doubled from approximately $800 million in 1994 to more
than $1.6 billion in 2000 and operating margin increased from 8.5 percent to
approximately 20 percent during the same period. Additionally, fully diluted
earnings per share grew from 36 cents in 1994 to $1.65 in 2000, representing a
six-year compounded annual growth rate of 29 percent.
Under Barlett's direction, Galileo became a leader in travel-related
reservation and distribution systems with operations in over 100 countries,
and handling nearly one-third of worldwide travel reservations. Barlett was
instrumental in leveraging technology to centralize Galileo's global
operations from data centers in more than 17 countries to data centers in two
countries today, significantly reducing operating costs and improving
shareholder returns. Today, through the Apollo(R) and Galileo(R) computerized
reservation systems, Galileo provides travel agencies at approximately 44,000
locations with the ability to book reservations and issue tickets for more
than 500 airlines. In 2000, Galileo completed approximately 345 million
bookings, representing nearly $80 billion in travel services. On October 1,
2001, Cendant Corporation completed its acquisition of Galileo.
Barlett's other career achievements include serving as Executive Vice
President of Worldwide Operations and Systems for MasterCard International
Corporation, overseeing its global program for innovative technology
replacement. In addition, since August 1999, he has served on the Board of
Directors for Korn/Ferry International.
Prior to MasterCard, Barlett was Executive Vice President of operations
for NBD Bancorp, where he managed the redevelopment of core banking systems.
He also directed the development, implementation and operation of the Cirrus
International automated teller switching system, one of the largest currency
disbursement systems in the world, and served as Vice Chairman of Cirrus, Inc.
Barlett was also a partner with Touche Ross and Co., currently known as
Deloitte & Touche, managing numerous international assignments.
Founded in 1982, TeleTech is a leading provider of integrated customer
relationship management solutions (CRM) for global organizations predominantly
in the communications, financial services, technology, government and
transportation industries. TeleTech has operations in twelve countries which
include Argentina, Australia, Brazil, Canada, China, Ireland, Mexico, New
Zealand, Scotland, Singapore, Spain and the U.S. TeleTech's CRM capabilities
including B2B electronic channel management and database management, help
companies inform, acquire, serve, grow and retain their customers throughout
the entire relationship lifecycle. TeleTech integrates a full spectrum of
voice and Internet communications, including e-mail response, "chat" and
extensive Web co-browsing capabilities. Information regarding TeleTech
Holdings can be found on the Worldwide Web at http://www.teletech.com.
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements
that involve substantial risks and uncertainties. In accordance with the
Private Securities Litigation Reform Act of 1995, following are important
factors that could cause TeleTech's actual results to differ materially from
those expressed or implied by such forward-looking statements: TeleTech's
ability to predict future revenues and associated costs, including the ability
of its newly appointed officers to further strengthen its industry position
and achieve continued growth in revenues and earnings; lower than anticipated
customer interaction center capacity utilization; the loss or delay in
implementation of a customer management program; TeleTech's ability to build-
out facilities in a timely and economic manner; greater than anticipated
competition from new entrants into the customer care market, causing increased
price competition or loss of clients; the loss of one or more significant
clients; higher than anticipated start-up costs associated with new business
opportunities and ventures;; TeleTech's agreements with clients may be
canceled on relatively short notice; and TeleTech's ability to generate a
specific level of revenue is dependent upon customer interest in and use of
the Company's clients' products and services. Readers are encouraged to review
TeleTech's 2000 Annual Report on Form 10-K, first and second quarter 2001 Form
10-Qs, and other publicly filed documents which describe other important
factors that may impact TeleTech's business, results of operations and
financial condition. TeleTech undertakes no obligation to update its
forward-looking statements after the date of this release.
SOURCE TeleTech Holdings, Inc.
CONTACT: Karen Breen or Dan Campbell, Investor Relations of TeleTech,
+1-303-397-8592 or +1-303-397-8634, Karen.firstname.lastname@example.org or