ATLANTA--(BUSINESS WIRE)--New Koosharem Corporation, the corporate holding company of the Select Staffing and EmployBridge family of companies, today announced that its Board of Directors has terminated D. Stephen Sorensen’s employment for cause.
The Board’s action was taken based on the initial findings of an ongoing independent investigation into Stephen Sorensen’s conduct. The Board believes that Stephen Sorensen orchestrated the improper diversion of $2.7 million to a Stephen Sorensen-controlled entity and the after-the-fact fabrication and back-dating of a related document in order to cover up this activity. The Board is exploring all remedies to recover these misappropriated funds.
The Board believes, based on the initial results of the investigation, that there were no improprieties on the part of any other current employees of Select Staffing.
EmployBridge and Select Staffing announced on February 9, 2015 that they have successfully completed their previously announced merger.
About New Koosharem Corporation
New Koosharem Corporation is the corporate holding company of the Select Staffing/EmployBridge family of companies.
About the EmployBridge and Select Combination
Headquartered in Atlanta, GA, the combined entity is a leading provider of specialty staffing services to the logistics, manufacturing, transportation and professional sectors. Serving nearly 20,000 customers with more than 490 branch and on-site locations across North America, the Company offers premier workforce management services, including recruiting and screening professional job candidates, payroll and time attendance management, on-site supervision, and specialty staffing solutions to a wide variety of clients.
For more information on The Select Family of Staffing Companies’ brands, please visit www.selectfamily.com.
For more information about EmployBridge brands, please visit www.employbridge.com.