Workflow Management Fires CEO
Workflow Management, Palm Beach, Fla., has announced the termination of its President and CEO Gary Ampulski. According to a company press release, Ampulski was suspended last month "pending an investigation of allegations that he violated company policies and board directives."
On March 30, Workflow Management will hold a meeting with stockholders to approve and adopt its recently announced acquisition by WF Holdings, which is controlled by Perseus L.L.C. and The Renaissance Group, for $4.87 per share in cash.
"We remain committed to completing the previously announced merger with WF Holdings and firmly believe that the transaction is in the best interests of Workflow's stockholders," said Chairman of the Board Gerald Mahoney, who was appointed to CEO on an interim basis. "Our goals are to ensure that the transaction occurs with no disruption to our employees, customers and vendors, and that the company's credit facility obligations to its lenders are satisfied in a timely matter."