CDI Corp. Names Scott Freidheim as Chief Executive Officer

          CDI Corp. Names Scott Freidheim as Chief Executive Officer

PR Newswire

PHILADELPHIA, Aug. 13, 2014

PHILADELPHIA, Aug. 13, 2014 /PRNewswire/ --CDI Corp. (NYSE: CDI) (the
"Company") today announced that after a rigorous international search process,
the Board of Directors has named Scott J. Freidheim as the company's next
chief executive officer effective September 15, 2014. Freidheim, 49, joins CDI
with more than 20 years of high-level experience across a range of industries
with a proven ability to acclimate quickly and achieve strong financial
performance. It is this business acumen and strategic vision that will be
critical in generating value creation, which is the joint focus of Freidheim
and the Board.

Freidheim most recently served as Vice Chairman – Post Acquisition Management
(Europe) at Investcorp International, where he was responsible for all
portfolio companies in Europe. Before joining Investcorp in 2011, Freidheim
was Executive Vice President, Operating and Support Businesses with Sears
Holdings and, more recently, President of Kenmore, Craftsman and Diehard.
Under his leadership, Kenmore's market share position rose from third to
first. Prior to his tenure at Sears Holdings, Freidheim served as Executive
Vice President, Chief Administrative Officer at Lehman Brothers. At Lehman
Brothers, he also held officer positions in the investment banking and
investment management divisions. Freidheim has served on corporate, higher
education and not for profit boards. Freidheim is a member of the Board of
Trustees of the Institute of International Education and is a member of the
Economic Club of New York and the Council on Foreign Relations. He was also a
member of the Young Global Leaders Forum and Global Agenda Council of the
World Economic Forum focused on the Skills Gap.

"The Board of Directors undertook an intensive search process for a new CEO.
Having demonstrated an ability to master a variety of industries and
successfully execute transformation strategies, Scott was clearly the best
candidate to guide CDI to a more profitable, focused and growth orientated
future," said Walter Garrison, Chairman of the CDI Board of Directors and the
founder of the company. "The Board wanted a strategic thinker with the
imagination to capitalize on our present strengths and leverage new
opportunities for value creation. Scott has a proven track record of making
strategic decisions that generate positive results."

Freidheim's contract is structured to emphasize long-term rewards based
primarily on the creation of tangible shareholder value. He has agreed to take
lower current compensation in return for a significant long-term opportunity
contingent entirely upon achieving share prices that are between 2-3 times the
current stock price. Any reward earned would cliff vest at the end of the five
year contract.

"I am honored to join CDI, a company with a strong portfolio, balance sheet
and client relationships," said Freidheim. "All of these attributes provide a
strong foundation for growth that when built upon will create substantial,
long-term value for CDI and its shareholders." As part of his long-term
commitment to CDI, Freidheim will be relocating to the Philadelphia area with
his family.

He is the fifth CEO in the 64-year history of CDI Corp. The Board of Directors
hired Gayle Mattson, a widely respected consultant, to conduct the search.

About CDI

CDI Corp. (NYSE: CDI) is an integrated, market-leading engineering and
technology services firm providing differentiated, client-focused solutions in
select global industries. CDI provides engineering and technology solutions
and professional staffing services through its global business operations. The
Company also provides staffing services through its franchised Management
Recruiters International, Inc. (MRI) operating unit. Learn more at
http://www.cdicorp.com/.

Caution Concerning Forward-Looking Statements

This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements that
address expectations or projections about the future, including, but not
limited to, statements about our future financial results, are forward-looking
statements. These statements are not guarantees of future performance and
involve a number of risks, uncertainties and assumptions that are difficult to
predict. Because these forward-looking statements are based on assumptions
that are subject to significant business, economic and competitive
uncertainties, many of which are beyond our control or are subject to change,
actual outcomes and results may differ materially from what is expressed in
these forward-looking statements. Important factors that could cause actual
results to differ materially from the forward-looking statements include, but
are not limited to: weakness in general economic conditions and levels of
capital spending by clients in the industries we serve; weakness or volatility
in the financial and capital markets, which may result in the postponement or
cancellation of our clients' capital projects or the inability of our clients
to pay our fees; the termination or non-renewal of a major client contract or
project; delays or reductions in government spending; credit risks associated
with our clients; our level of success in attracting, training and retaining
qualified management personnel and other staff employees; the availability and
cost of qualified billable personnel; competitive market pressures; changes in
tax laws and other government regulations including the impact of healthcare
reform laws and regulations; the possibility of incurring liability for our
business activities, including the activities of our temporary employees; our
performance on client contracts; negative outcome of pending and future claims
and litigation; and government policies, legislation or judicial decisions
adverse to our businesses. More detailed information about these and other
risks and uncertainties may be found in our filings with the SEC, particularly
in the "Risk Factors" section of our Form 10-K and the "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
section of our Form 10-Ks and Form 10-Qs. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date hereof. We assume no obligation to update such statements, whether as a
result of new information, future events or otherwise, except as required by
law.

SOURCE CDI Corp.

Website: http://www.cdicorp.com
Contact: Vincent Webb, Vice President, Investor Relations and Communications,
215-636-1240, Vince.Webb@cdicorp.com
 
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