BOSTON, Sept. 29 /PRNewswire-FirstCall/ -- Keane, Inc. (NYSE: KEA), a
leading business process and information technology (IT) services firm,
announced today that Richard S. Garnick, President of North American
Services and Global Business Lines and a member of the Company's Office of
the President, has been dismissed for cause and will leave the Company
The dismissal was for just cause related to compliance with the
Company's policy on travel expenses and unauthorized communications
inconsistent with the Company's interests. Because this action involves a
personnel matter, the Company does not intend to discuss specific details
concerning the reasons for Mr. Garnick's dismissal.
John J. Leahy, also a member of the Office of the President, an office
created in May by the Company's Board of Directors as a temporary measure
until the search for a new President and CEO is concluded, will continue to
serve as the Company's interim president and CEO and chief financial
officer. The Company expects to name a new President and CEO before the end
of the year.
In business since 1965, Keane, Inc. (NYSE: KEA) is a leading business
process and IT services firm. Keane delivers Application and Business
Process Services to help clients transform their business and IT operations
to achieve demonstrable, measurable, and sustainable business benefit. As a
trusted advisor and partner for its clients, Keane solves real business
issues through the development and implementation of cost-effective,
change-oriented, industry-specific solutions.
Specifically, Keane delivers highly synergistic application and
business process services, including Application Development and
Integration Services, Architecture Services, Application Outsourcing,
Program Management, and Testing, as well as Business Transformation
Services including Business Process Outsourcing. Keane believes that
business and IT improvements are best realized by streamlining and
optimizing business and IT processes, implementing rigorous management
disciplines, and fostering a culture of accountability through meaningful
performance metrics. Based in Boston, Mass., Keane delivers its services
throughout the United States, Australia, Canada, India, and the United
Kingdom. For more information, visit http://www.keane.com.
Safe Harbor for Forward-Looking Statements: This press release contains
a number of forward-looking statements, including with respect to the
anticipated timing for naming a new President and CEO. Any statements that
are not statements of historical fact (including statements containing the
words "believes," "plans," "anticipates," "expects," "estimates,"
"intends," "may," "projects," "will," "would," and similar expressions)
should also be considered to be forward-looking statements. There are a
number of important factors that could cause actual results or events to
differ materially from those indicated by such forward-looking statements,
including: continued or further downturns in the US economy, political and
economic conditions in India, the loss of one or more major clients,
unanticipated disruptions to Keane's business, the execution and successful
completion of contracts evidencing new bookings, the successful completion
of software development or management projects, the availability and
utilization rate of professional staff, and other factors detailed under
the caption "Risk Factors" in Keane's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2006, which important factors are incorporated
herein by this reference. Keane disclaims any intention or obligation to
update any forward-looking statements as a result of developments occurring
after the date of this press release, including the potential impact of any
future acquisitions, mergers, or dispositions it may make.
Keane Public Relations
Keane Investor Relations
SOURCE Keane, Inc.