Exhibit 99.1
![LOGO](https://capedge.com/proxy/8-K/0001193125-18-321746/g518358g12x86.jpg)
Volt Information Sciences Concludes Strategic Alternatives Process and
Appoints Linda Perneau to the Board of Directors and as President and CEO
NEW YORK, November 8, 2018 – Volt Information Sciences, Inc. (NYSE-AMERICAN:VISI)(the “Company”) announced today that its Board of Directors (the “Board”) has concluded its previously announced evaluation of strategic alternatives. This formal review was deliberate and comprehensive in its evaluation of potential alternatives, including a sale of the Company. Over the course of the review process, the Company engaged with a broad range of strategic industry players and private equity investors. After careful consideration of the results of the process, the available alternatives, and the Company’sgo-forward business strategy, the Board unanimously determined that executing on the Company’s strategic plan is in the best interests of shareholders.
In addition, the Company announced today that the Board appointed Linda Perneau to serve as a member of the Board, and as the Company’s President and Chief Executive Officer, effective November 7, 2018. Ms. Perneau has been serving as the Company’s Interim President and Chief Executive Officer since June 6, 2018.
Nick Cyprus, Chairman of the Board, said, “After an extensive review of the strategic alternatives available to the Company, including the several bids to acquire the Company that were received, we have unanimously determined that executing our business plan as an independent company is the best path forward to maximize value for Volt’s shareholders. Under the leadership of Linda Perneau, now our President and CEO, the Board is confident in the Company’s ability to improve its market share and drive profitable growth.”
Ms. Perneau commented, “I am pleased to see our revenue generation efforts beginning to gain traction. Volt is now well-positioned to return totop-line growth, margin improvement, and driving better operating income levels. Our new leadership team is committed to elevating our financial & operational performance, embracing organizational change and executing on our strategic priorities and well-defined plan to drive profitable growth. We are convinced that the positive trends we are now seeing will continue as we concentrate all of our attention on building a successful 2019 for the Company and its stakeholders. I look forward to providing a more detailed update on our progress when we report our fourth quarter 2018 results in early January.”
Notwithstanding the formal termination of the strategic alternatives process, the Board remains committed to maximizing shareholder value and will consider opportunities to enhance value that may present themselves in the future.