Paul Mikos, who guided RemedyTemp Inc. to a nationwide staffing firm with more than half a billion dollars a year in sales, is stepping aside as chief executive officer, the Aliso Viejo company said Thursday.
Greg Palmer, 44, was promoted to president and CEO. He had been chief financial officer since joining the company in 1998.
Mikos, 56, becomes chairman, succeeding founder Robert E. McDonough, 78, who was named vice chairman.
Mikos had served as president and chief executive officer of RemedyTemp since 1995 and as president since 1984. During his tenure, the company has grown from 18 to 282 offices, and from $20 million to $557 million in sales.
Palmer has 16 years of experience in the staffing industry. Before joining RemedyTemp, he was senior vice president, North America, at Olsten Corp., a major international staffing services firm.
The changes were announced after the close of regular trading in U.S. markets. The company's stock, which has lost more than 60% of its value over the past year, closed Thursday at $8.94, down 6 cents a share, in Nasdaq trading.