Patrick Beharelle Resigns as TrueBlue CEO

Rhea-AI Summary

TrueBlue, Inc. (NYSE: TBI) announced the resignation of CEO Patrick Beharelle effective June 14, 2022, following an investigation into his conduct that violated company policies. Steven C. Cooper, the current Chairman and former CEO, has been appointed as the new CEO. The Board emphasized the importance of company values and believes the change is in the best interest of stakeholders. TrueBlue is recognized for providing specialized workforce solutions and connected around 615,000 people with jobs in 2021.

Positive

• Appointment of experienced leader Steven C. Cooper as CEO, which may stabilize the company following recent management issues.
• Reaffirmation of company values and commitment to a positive workplace culture.

Negative

• Resignation of Patrick Beharelle may lead to uncertainties regarding strategic direction and management stability.
• The need for an investigation suggests potential internal issues, which could impact investor confidence.

Former TrueBlue CEO Steven C. Cooper to Become CEO

TACOMA, Wash.--(BUSINESS WIRE)-- TrueBlue, Inc. announced today that Patrick Beharelle has resigned as Chief Executive Officer and as a member of the Board of Directors of TrueBlue, effective June 14, 2022. Mr. Beharelle’s resignation follows an investigation, led by outside counsel, into allegations regarding his conduct. Based on the investigation’s findings, the Board of Directors determined that he had engaged in behaviors that violated TrueBlue’s policies and Code of Conduct. Mr. Beharelle’s conduct in question was not related to financial controls, financial statements, or business performance.

Steven C. Cooper, current Chairman and former CEO of TrueBlue, has been appointed to serve as CEO.

“At TrueBlue, our values are paramount to the way in which we do business, and the Board of Directors has high standards for employees at every level of the organization,” said Mr. Cooper. “We believe Patrick’s resignation is in the best interests of the Company and all its stakeholders.”

Mr. Cooper continued: “The Board of Directors and I are confident in the strong management team in place, and I look forward to returning to TrueBlue as Chief Executive Officer. The Company is well positioned for continued growth and leadership in delivering solutions that align to our clients’ diverse workforce needs. We have strong values, and we are committed to ensuring our employees and partners a vibrant workplace culture that is inclusive and welcoming.”

About TrueBlue

TrueBlue (NYSE: TBI) is a leading provider of specialized workforce solutions that help clients achieve business growth and improve productivity. In 2021, TrueBlue connected approximately 615,000 people with work. Its PeopleReady segment offers on-demand, industrial staffing, PeopleManagement offers contingent, on-site industrial staffing and commercial driver services, and PeopleScout offers recruitment process outsourcing (RPO) and managed service provider (MSP) solutions to a wide variety of industries. Learn more at www.trueblue.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005803/en/

Caroline Sabetti

Chief Marketing Officer, PeopleReady and PeopleScout

& Senior Vice President of TrueBlue Communications

csabetti@trueblue.com

312.560.9173

Source: TrueBlue, Inc.

FAQ

Who was appointed as CEO of TrueBlue after Patrick Beharelle's resignation?

Steven C. Cooper was appointed as CEO of TrueBlue following the resignation of Patrick Beharelle.

What led to Patrick Beharelle's resignation from TrueBlue?

Patrick Beharelle resigned due to findings from an investigation into his conduct that violated company policies.

When did Patrick Beharelle resign from TrueBlue?

Patrick Beharelle resigned as CEO of TrueBlue effective June 14, 2022.

What does TrueBlue do?

TrueBlue provides specialized workforce solutions, connecting clients with skilled labor across various industries.

How many people did TrueBlue connect with work in 2021?

In 2021, TrueBlue connected approximately 615,000 people with work.