Adecco SA Begins Trading on New York Stock Exchange
Adecco SA (NYSE Listed-ADO), the world's largest personnel services company, began trading this morning on the New York Stock Exchange.
Chéserex, Suisse, Mar 16, 2000
In ceremonies to mark the occasion, Adecco senior managers rang the Opening Bell to officially start the trading day.
Adecco SA, whose common shares trade on the Swiss Exchange (ADEN 700'939) and the Bourse de Paris (RM 12819), will trade American Depositary Shares (ADSs) on the NYSE. Adecco's ADSs were delisted from NASDAQ at the close of business on March 15.
The NYSE listing comes a day after the official close of the merger of Adecco with the staffing and information technology services businesses of Olsten Corporation. The merger strengthens Adecco's position as the number one personnel services company not only in the world, but now also in North America, which is the world's largest market, and in the global information technology services market.
Adecco's Chief Executive Officer John Bowmer commented that "Since Adecco is the world's largest personnel services company, it's only natural to join the other 3,000 market leaders that trade on the world's largest and most respected equities market. We see this new partnership with the NYSE as a powerful combination that will benefit our shareholders, clients, and employees."
NYSE Chairman and CEO Richard Grasso welcomed Adecco to the Exchange, saying "We are delighted and honored to have an industry leader such as Adecco join the ranks of NYSE-listed companies. As a global authority in personnel services, Adecco will make an outstanding addition to our roster of world-class companies. We look forward to a long and successful relationship."
In another development, Adecco is taking aggressive steps to build brand awareness in key markets. In the US, a new seven-week television and radio advertising campaign debuts this week. In addition, print ads will appear in major business publications.
Adecco SA is the global leader in personnel services, connecting up to 600,000 associates with business clients each day through its network of over 25,000 employees and almost 5,000 locations in 55 countries around the world. Registered in Switzerland and managed by a multinational team with expertise in markets spanning the globe, Adecco delivers an unparalleled range of flexible staffing and career resources to corporate clients and qualified associates.
Adecco provides clients with staffing services and solutions covering all major industries as well as specific professions. The worldwide Adecco network focuses on global industries in transition, including automotive, banking, electronics, logistics, and telecommunications. Adecco is also positioned as a worldwide leader in each of the major professional staffing segments with several world-class business lines: aoc (Accountants on Call) and Jonathan Wren for Finance, Banking and Accounting; Ajilon and Computer People for high-end Information Technology, TAD and Roevin for Engineering and Technical. These Adecco businesses provide their clients with a broad range of staffing solutions, from temporary work to permanent placement, to consulting and managed services. Adecco also offers a range of HR solutions with Econova/Lee Hecht Harrison, offering outplacement and career management services. Adecco clients retain this unique range of services through local, national and multinational contracts. Further information can be found at www.adecco.com.