Appointment of Ten-Year Company Finance Veteran Follows Resignation of Jeffrey Pritchett; Company Maintains Full-Year Outlook
CHICAGO - InnerWorkings, Inc., the leading global marketing execution firm, today announced that Charles "Chip" Hodgkins, Senior Vice President, Corporate Development and Strategic Initiatives, has been appointed Interim Chief Financial Officer, effective December 6, 2017.
Mr. Hodgkins' appointment to the role follows the departure of former Chief Financial Officer Jeffrey P. Pritchett, who resigned from the Company, effective immediately, due to personal matters inconsistent with Company policy. Mr. Pritchett's departure was not related to the Company's business, operations, financial performance, or financial reporting. The Company intends to undertake a search for a new Chief Financial Officer and will be considering both internal and external candidates.
"Chip is one of our brightest and most effective finance executives, and it's my pleasure to welcome him to the Interim CFO role after working closely with him over the course of his 10 years with the Company," said Eric D. Belcher, Chief Executive Officer of InnerWorkings. "The Board and I are confident that Chip will effectively lead our finance function during this interim period based on his deep knowledge of our business and his track record of successfully leading numerous finance and operational initiatives. As Chip steps into this new role, he will also benefit from a talented supporting cast within our finance team, including Will Atkins, who has been with the Company for the past six years and was recently promoted to Principal Accounting Officer."
Since assuming his current role with InnerWorkings in 2014, Mr. Hodgkins has taken on increasing responsibilities in finance and operations, including for the Company's supplier relations, accounts payable, logistics, and strategic sourcing teams, and he has been instrumental in driving numerous strategic initiatives within the organization. Previously, Mr. Hodgkins led the Company's global mergers and acquisitions efforts from 2007 to 2013, completing dozens of acquisitions during this seven-year period. Before joining InnerWorkings, Mr. Hodgkins worked in investment banking and venture capital.
Full-Year 2017 Outlook
The Company is also reaffirming its previously disclosed full-year outlook, which was issued on November 7, 2017. The Company anticipates 2017 gross revenue in the range of $1.115 billion to $1.145 billion, non-GAAP adjusted EBITDA in the range of $65.0 million to $68.0 million, and non-GAAP earnings per diluted share in the range of $0.47 to $0.50.
Mr. Belcher concluded, "2017 is on track to be a record year for our Company on both the top and bottom lines. We have a large backlog of new business awards, which, when combined with our strong pipeline, positions us well for 2018 and beyond."