DENVER, March 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a global provider of customer management and business process
outsourcing (BPO) solutions, today announced that Dr. George H. Heilmeier, age
68 and a Director of the Company since 1998, will retire from the Company's
Board of Directors and will not stand for reelection at the Company's 2005
Annual Meeting. Dr. Heilmeier's decision to retire was based solely on
personal reasons and not due to any disagreement with TeleTech or concerns
relating to its operations, policies, or practices.
Dr. Heilmeier was formerly Chairman and Chief Executive Officer of
Bellcore before retiring in 1997. Prior to Bellcore, he held various
executive leadership positions at Texas Instruments.
"I am honored to have served on TeleTech's Board of Directors since 1998,
and enjoyed helping shape the Company into a global, preeminent provider of
customer management and business process outsourcing services to the world's
leading brands," said Dr. Heilmeier. "I have tremendous confidence in the
Board of Directors and management team, and believe the Company is poised for
renewed growth and profitability in a dynamic and increasingly global
industry."
"We are grateful for George's valued contributions to the Board of
Directors over the last seven years. His strong executive leadership
background provided important insight as we grew the Company from $400 million
in revenue with operations in 8 countries to over $1 billion in revenue and
operating in 17 countries today," said Kenneth Tuchman, chairman and chief
executive officer. "We thank George for his dedication and wish him the very
best in his future endeavors."
ABOUT TELETECH
TeleTech is a global business services company that provides a full range
of front- to back-office solutions including customer management, BPO,
database marketing, and outsourced services to measurably enhance clients'
core customer management processes. TeleTech's ability to create innovative
strategies, combined with its global technology platform and delivery
infrastructure, helps clients increase revenue, lower costs, and retain their
customers around the world. TeleTech's products and services, standardized
processes, and recognized capabilities to implement complex global projects
make the Company a valued partner for clients that include Global 1000
businesses and governments. TeleTech partners with clients to offer
150 languages, through its more than 32,000 employees, in 17 countries. For
additional information, visit www.TeleTech.com.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements relating
to future results. The Private Securities Litigation Reform Act of 1995
provides a safe harbor for forward-looking statements. These forward-looking
statements are subject to risks and uncertainties that may cause TeleTech's
and its subsidiaries' actual results to differ materially from those expressed
or implied by such forward-looking statements, including but not limited to
the following: the ability for the Company to execute its growth plans and to
achieve its three-year financial goals and targeted cost reductions; the
Company's ability to increase profitability via the globalization of its North
American best operating practices; the ability to successfully launch and
generate revenue from new product introductions; the estimated revenue
associated with new or renewed client agreements; the possibility of the
Company's Database Marketing and Consulting segment not returning to historic
levels of profitability; the ability of the Company to fund its future growth
initiatives; greater than anticipated competition in the customer care market,
causing adverse pricing and more stringent contractual terms; risks associated
with losing or not renewing significant client relationships, or early
termination of a client agreement; the Company's ability to close new business
and fill excess capacity; consumers' concerns or adverse publicity regarding
the products of the Company's clients; higher than anticipated start-up costs
or lead times associated with new ventures or business in new markets;
execution risks associated with performance-based pricing metrics in certain
client agreements; the Company's ability to find cost effective locations,
obtain favorable lease terms, and build or retrofit facilities in a timely and
economic manner; risks associated with business interruption due to weather-
related events; risks associated with attracting and retaining cost-effective
labor at the Company's customer management centers; the possibility of
additional asset impairments and restructuring charges; risks associated with
changes in foreign currency exchange rates; economic or political changes
affecting the countries in which the Company operates; changes in accounting
policies and practices promulgated by standard setting bodies; and, new
legislation or government regulation that impacts the customer care industry.
Please refer to the Company's filings with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for the year
ended 2004, for a detailed discussion of factors discussed above and other
important factors that may impact the Company's business, results of
operations, financial condition, and cash flows. The Company assumes no
obligation to update its forward-looking statements to reflect actual results
or changes in factors affecting such forward-looking statements.
Investors
Karen Breen
+1-303-397-8592
Dan Campbell
+1-303-397-8634
Media
Julie Lucas
Public Relations
+1-303-397-8555
All of TeleTech Holdings, Inc.
