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MODUSLINK GLOBAL SOLUTIONS INC
Symbol U : MLNK
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ModusLink Names John J. Boucher as New President and CEO

2013-01-14 16:23 ET - News Release

Brings deep supply chain management experience and strong leadership and operations expertise


Company Website: http://www.moduslink.com
WALTHAM, Mass. -- (Business Wire)

ModusLink Global Solutions, Inc. (NASDAQ: MLNK) today announced that John J. Boucher, 53, will become its President and Chief Executive Officer. Boucher, who brings more than 30 years of supply chain management experience to his new role, is expected to join the Company on January 28, 2013.

“After a thorough search, we are confident that we have selected the right individual to assume the leadership role at ModusLink,” said Francis J. Jules, chairman of the board of directors. “John has extensive experience in all facets of supply chain management especially in operations. He also has deep knowledge of our core technology end-markets, and the proven ability to drive revenue growth and improvement in profitability. The Board looks forward to working with John to improve financial results and increase shareholder value.”

“I am pleased to join ModusLink, one of the market’s leading outsourced supply chain and logistics providers”, said Mr. Boucher. “ModusLink has an exceptional client base and has earned an outstanding reputation for client service. I look forward to working with the Board and employees to build on the Company’s many strengths, enhance operations, improve financial results and drive value for shareholders.”

Boucher joins ModusLink from Symbotic LLC, a global provider of integrated supply network automation solutions for warehouses and distribution centers, where he served as Chief Commercial Officer & Chief Operating Officer. Prior to this role from 2004 to 2010, Boucher served in executive and leadership positions at Celestica Inc., a major provider of supply chain services to companies in the communications, consumer, computing, and industrial, aerospace and defense, healthcare, green technology, and semiconductor capital equipment globally. While at Celestica, he held the positions of Executive Vice President of Global Services, Sales & Supply Chain Solutions; Executive Vice President, Supply Chain & Chief Procurement Officer; and President & Senior Vice President, Americas Operations where he had direct accountability for approximately $3 billion of revenue. Boucher was a member of the founding team at Manufacturers Services Limited prior to its acquisition by Celestica in 2004, and held senior management positions such as Group Vice President of Electronics Manufacturing Services Business Unit and Corporate Vice President, Global Supply Chain Management. Boucher began his career, and worked for more than 17 years, with Digital Equipment Corporation where he held a number of senior management positions, including managing supply chain strategies for the Company's personal computer division. Boucher currently serves on the Consumer & Electronics Advisory Board of Nypro, a leading global solutions provider in the field of manufactured precision plastic products.

About ModusLink Global Solutions, Inc.

ModusLink Global Solutions Inc. (NASDAQ: MLNK) executes comprehensive supply chain and logistics services that improve clients’ revenue, cost, sustainability and customer experience objectives. ModusLink is a trusted and integrated provider to the world’s leading companies in consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company’s operating infrastructure annually supports more than $80 billion of its clients’ revenue and manages approximately 470 million product shipments through more than 30 sites in 15 countries across North America, Europe, and the Asia/Pacific region. For details on ModusLink's flexible and scalable solutions visit www.moduslink.com and www.valueunchained.com, the blog for supply chain professionals.

ModusLink Global Solutions is a registered trademark of ModusLink Global Solutions, Inc. All other company names and products are trademarks or registered trademarks of their respective companies.

This release contains forward-looking statements, which address a variety of subjects including, for example, the expectation and prospects for improvement in operations, financial results and increase in shareholder value. All statements other than statements of historical fact, including without limitation, those with respect to the Company’s goals, plans, expectations and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the Company’s success, including its ability to meet its revenue, operating income and cost savings targets, maintain and improve its cash position, expand its operations and revenue, lower its costs, improve its gross margins, reach and sustain profitability, reach its long-term objectives and operate optimally, depends on its ability to execute on its business strategy, including the announced investment and costs savings plan and the continued and increased demand for and market acceptance of its services; global economic conditions, especially in the technology sector are uncertain and subject to volatility; demand for our clients’ products may decline or may not achieve the levels anticipated by our clients; the Company's management may face strain on managerial and operational resources as they try to oversee the expanded operations; the Company may not realize the expected benefits of its restructuring and cost cutting actions; the Company may not be able to expand its operations in accordance with its business strategy; the Company’s cash balances may not be sufficient to allow the Company to meet all of its business and investment goals; the Company may experience difficulties integrating technologies, operations and personnel in accordance with its business strategy; the Company derives a significant portion of its revenue from a small number of customers and the loss of any of those customers could significantly damage the Company’s financial condition and results of operations; the Company frequently sells to its supply chain management clients on a purchase order basis rather than pursuant to contracts with minimum purchase requirements, and therefore its sales and the amount of projected revenue that is actually realized are subject to demand variability; the Company’s pipeline of sales opportunities represents potential sales transactions and estimated annual revenue therefrom and there can be no assurance that such sales efforts will be successful or that the potential revenue will be realized; risks inherent with conducting international operations; tax rate expectations are based on current tax law and current expected income and may be affected by the jurisdictions in which profits are determined to be earned and taxed, changes in estimates of credits, benefits and deductions, the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties and the ability to realize deferred tax assets;the mergers and acquisitions and IPO markets are inherently unpredictable and liquidity events for companies in the Company’s venture capital portfolio may not occur; and increased competition and technological changes in the markets in which the Company competes.For a detailed discussion of cautionary statements that may affect the Company’s future results of operations and financial results, please refer to the Company's filings with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements represent management's current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.

Contacts:

Media:
ModusLink Public Relations
Teresa Osborne, 781-663-5153
teresa_osborne@moduslink.com
or
Investor:
ModusLink Investor Relations
Robert Joyce, 781-663-5120
ir@moduslink.com

Source: ModusLink Global Solutions, Inc.

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