Kronos® President Paul Lacy to Retire
2008-02-05
CHELMSFORD, Mass., Feb. 5, 2008 — Kronos® Incorporated today announced that its president, Paul Lacy, plans to retire from the company. During his 20-year tenure, Kronos grew from a small, $26 million hardware company to a $662 million global enterprise software company. An active national search is already underway for Lacy’s replacement. Kronos anticipates that the transition will be completed no later than June 2008.
"It is hard to put into words what Paul Lacy has meant to our company," said Aron Ain, Kronos chief executive officer. "Paul embodies everything that makes Kronos a great place to work. His deep knowledge of all aspects of our business, as well as his steady leadership, clear vision, and uncompromising integrity, have been tremendous assets to Kronos. We will miss Paul both professionally and personally, and are grateful for all that he has done for Kronos. We wish him happiness as he moves into a new phase of his life."
Lacy joined Kronos in 1988 and has served as president since 2005, previously serving as executive vice president and chief financial and administrative officer for the company. During his tenure, Lacy helped Kronos become one of the world’s most consistently performing enterprise software companies. He led the company’s Initial Public Offering (IPO) in 1992, and selected and integrated 60 company and product acquisitions in North America and in other parts of the world.
"It has been a distinct privilege to be part of Kronos' evolution to one of the most respected and successful companies in the technology industry," said Lacy. "Kronos has provided me with a wide range of opportunities and professional experiences, culminating with taking the company private after 15 years as a public company. I will forever be grateful to my friends and colleagues at Kronos for making my two decades with this great company the most fulfilling period of my professional career. I am confident that the skilled and compassionate leadership at Kronos will guide the company through many more years of growth and success."
About Kronos Incorporated
Kronos Incorporated empowers organizations around the world to effectively manage their workforce. At Kronos, we are experts who are solely focused on delivering software and services that enable organizations to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. Kronos serves customers in more than 60 countries through its network of offices, subsidiaries, and distributors. Widely recognized as a market and thought leader in managing the workforce, Kronos has unrivaled reach with more than 30 million people using a Kronos solution every day. Learn more about Kronos at www.kronos.com.