-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, A3m4JjzyVQKgiCAqGgxmBvwlexBE84Q5sfkSZ9YpgAdxxkciXbLXjYIzpoVWMxD+ Tc4WEEq4wDnU5NBdFuNn3w== 0001398344-09-001107.txt : 20091123 0001398344-09-001107.hdr.sgml : 20091123 20091123110717 ACCESSION NUMBER: 0001398344-09-001107 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091102 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091123 DATE AS OF CHANGE: 20091123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WORKSTREAM INC CENTRAL INDEX KEY: 0001095266 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 000000000 FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15503 FILM NUMBER: 091200583 BUSINESS ADDRESS: STREET 1: 495 MARCH RD STE 300 STREET 2: OTTAWA ONTARIO CITY: CANADA K2K 3G2 STATE: A6 ZIP: 00000 BUSINESS PHONE: 6132362263 MAIL ADDRESS: STREET 1: 495 MARCH RD SE 300 STREET 2: OTTAWA ONTARIO CITY: CANADA K2K 3G2 STATE: A6 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: E CRUITER COM INC DATE OF NAME CHANGE: 19990917 8-K 1 fp0001163_8k.htm fp0001163_8k.htm
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
 
 
Date of report (Date of earliest event reported):  November 2, 2009

WORKSTREAM INC.
(Exact Name of Registrant as Specified in Charter)
 
 
CANADA
  
001-15503
  
N/A
(State or Other Jurisdiction
 of Incorporation)
  
(Commission File Number)
  
(I.R.S. Employer 
 Identification No.)
 

485 N. KELLER ROAD, SUITE 500, MAITLAND, FL 32751
(Address of Principal Executive Offices) (Zip Code)
 

(407) 475-5500
 (Registrant's Telephone Number, Including Area Code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors;  Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 2, 2009, Steve Purello resigned as President and Chief Executive Officer of Workstream Inc. (the “Company”).  In connection with Mr. Purello’s resignation as President and Chief Executive Officer, the Company and Mr. Purello are in the process of negotiating a separation agreement.  The Company will file a Current Report on Form 8-K describing the material terms of such agreement if and when such agreement is consummated.
 
On November 2, 2009, Michael Mullarkey, age 41, was appointed to serve as President and Chief Executive Officer of the Company.  Mr. Mullarkey is the Chairman of the Company’s Board of Directors, a position he has held since November 2001. Mr. Mullarkey previously served as the Company’s Chief Executive Officer from April 2001 through January 2007.  From April 2003 until December 2006, Mr. Mullarkey assumed the responsibilities of President, a position he previously held from April 2001 until November 2001.  From January 2001 to April 2001, Mr. Mullarkey was the President, Secretary and a Director of Paula Allen Holdings, Inc., a full service outplacement firm in the United States, which the Company acquired in April 2001.
 
The Company is in the process of negotiating an employment agreement with Mr. Mullarkey.  The terms of such agreements have not yet been finalized.  The Company will file a Current Report on Form 8-K describing the material terms of such agreement if and when such agreement is consummated.

Attached hereto as Exhibit 99.1 is a press release issued on November 2, 2009 announcing the resignation of Mr. Purello and the appointment of Mr. Mullarkey as President and Chief Executive Officer of the Company.

Item 9.01.
Financial Statements and Exhibits.

 
(d)
Exhibits

 
99.1
Press release issued by Workstream Inc. on November 2, 2009.
 
 
 
 
 
 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  
 
WORKSTREAM INC.
 
 
 
Dated: November 23, 2009
By:  
/s/ Michael Mullarkey      
 
Name: Michael Mullarkey
Title: Chief Executive Officer
 
 EX-99.1 2 fp0001163_ex99-1.htm fp0001163_ex99-1.htm
 
Workstream announces Management Changes

Company adds Sales and Marketing Executives ; Chairman Assumes Duties as Workstream's President and Chief Executive Officer
 
Maitland, FL November 2, 2009-- Workstream Inc. (Nasdaq: WSTM) announced today that co-founder and Executive Chairman Michael Mullarkey has assumed the duties of President and Chief Executive Officer, effective immediately, replacing Steve Purello.
 
"Michael is the architect of the Workstream brand and the visionary behind the unique customer experience integral to our company's success," said Thomas Danis. Lead Director of the Board. "The Board believes there is no better person to ensure that Workstream capitalizes on its opportunities and drives value for our shareholders. Furthermore, we remain encouraged by the improvement in the trends in our business as customers continue to respond favorably to our new product roll out ."
 
Michael Mullarkey, Chairman, President and Chief Executive Officer stated: "It is my firm belief that this company, now 10 years of age, has significant opportunities for substantial growth. The Board of Directors has asked me to return as our leader in order to accelerate the timelines for this growth, and for a return to long-term profitability, which our shareholders so rightfully expect.
 
Mr. Mullarkey joined Workstream in 2001 as Chief Executive Officer through December 2006. During this period, the Company enjoyed exceptional growth and developed a broad product portfolio that transformed the company into a leading provider in Human Capital Software and consulting services that now spans over 200 Fortune 2000 customers and helps thousands of people take the necessary steps for career transition.
 
Mr. Purello has resigned from his position as, President and Chief Executive Officer. "I would like to thank Steve for his many contributions," said Mr. Mullarkey. "He has been an outstanding member of our team and we wish him great success in his future endeavors."
 
Also joining the company with Michael Mullarkey is Andrew Hinchliff, Senior Vice President of North American Sales.  Andrew joins the team for a second round in leading our sales and marketing drive.  From 2000-2003, Mr. Hinchliff held this position when the company was emerging; building and expanding our customer base by transforming businesses, one HR client at a time. Since then, Mr. Hinchliff’s 20 year sales career broadened the scope of his experience at Yellow Pages Group, Iron Mountain and Candour Consulting.  He returns to Workstream prepared and poised for new business.
 
Andrew and Michael have proven collaborative expertise in the sales and marketing arena, signaling their unswerving confidence in the right leadership. This will move the company forward and returns Workstream’s focus to revenue growth, profitability and, exceeding our customer’s expectation.
 
 
 
 
 
About Workstream
 
Workstream provides on-demand compensation; performance and talent management solutions and services that help companies manage the entire employee lifecycle–from recruitment to retirement. Workstream's TalentCenter provides a unified view of all Workstream products and services including Recruitment, Performance, Compensation, Development and Transition. Access to TalentCenter is offered on a monthly subscription basis under an on-demand software delivery model to help companies build high-performing workforces, while controlling costs. With offices across North America, Workstream services customers including Kaiser Permanente, Marshfield Clinic, Chevron, The Gap, Nordstrom and several government agencies. For more information visit www.workstreaminc.com or call (407) 475-5500 X712.
 
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