MILWAUKEE, July 28, 2016 /PRNewswire/ -- ManpowerGroup (MAN) today announced that its Board of Directors has authorized a new share repurchase program under which the company may repurchase up to 6 million shares of its common stock.
The new repurchase program is in addition to the share repurchase program authorized in October 2015. Under that program, the Company repurchased approximately 0.7 million shares in 2015 and 3.8 million shares in the first two quarters of 2016, leaving approximately 1.5 million shares of remaining capacity as of June 30, 2016.
Purchases under the new share repurchase program may be made from time to time through open market purchases, block transactions, privately negotiated transactions or other facilities.
ManpowerGroup® (NYSE: MAN) is the world's workforce expert, creating innovative workforce solutions for nearly 70 years. As workforce experts, we connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2016, ManpowerGroup was named one of the World's Most Ethical Companies for the sixth consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible: www.manpowergroup.com.
This news release contains statements that are forward-looking in nature and, accordingly, are subject to risks and uncertainties regarding the Company's expected future results. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements. Factors that may cause the Company's actual results to differ materially from those contained in the forward-looking statements can be found in the Company's reports filed with the SEC, including the information under the heading 'Risk Factors' in its Annual Report on Form 10-K for the year ended December 31, 2015, which information is incorporated herein by reference.