MINNEAPOLIS--(BUSINESS WIRE)--Feb. 22, 2012--
G&K Services, Inc. (NASDAQ: GKSR) announced today that its
Chief Executive Officer, Douglas A. Milroy, will be taking a planned
temporary medical leave, starting February 29, 2012 to treat an aortic
aneurism. The company expects that Milroy will recover fully within four
to six weeks and will completely resume his normal duties upon his
Milroy will continue to serve as G&K’s Chief Executive Officer and as a
member of the Board of Directors, and will, as circumstances allow
during his recovery, remain actively involved in the Company’s
operations and business. Given the expected short duration of Milroy’s
leave, the Board of Directors has decided that G&K’s Executive
Management team will jointly be responsible for the day-to-day business
decisions and operations of the company.
“We wish Doug the best for a full and speedy recovery and look forward
to his quick return,” said Lenny Pippin, G&K’s Chairman of the Board.
“Both Doug and the Board have full confidence in our very capable
management team to run day-to-day operations and business during Doug’s
brief leave, and continue driving solid results against our game plan,”
About G&K Services, Inc.
G&K Services, Inc. is a service-focused market leader of branded uniform
and facility services programs in the United States, and is the largest
such provider in Canada. Headquartered in Minneapolis, Minnesota, G&K
Services has over 7,500 employees serving approximately 165,000
customers from over 160 facilities in North America. G&K Services is a
publicly held company traded over the NASDAQ Global Select Market under
the symbol GKSR and is a component of the Standard & Poor’s SmallCap 600
Index. For more information on G&K Services, visit the company’s web
site at www.gkservices.com.
Safe Harbor for Forward-Looking Statements
Statements made in this press release concerning the company’s
intentions, expectations or predictions about future results or events
are “forward-looking statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements reflect the
company’s current expectations or beliefs, and are subject to risks and
uncertainties that could cause actual results or events to vary from
stated expectations, which could be material and adverse. You are
cautioned not to place undue reliance on these statements, and the
company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Information concerning potential factors that could affect future
financial results is included in the company’s Annual Report on Form
10-K for the fiscal year ended July 2, 2011.
Source: G&K Services, Inc.
G&K Services, Inc.
Jeffrey L. Wright, Executive Vice President
and Chief Financial Officer, 952-912-5500
Director, Investor Relations, 952-912-5773