TeleTech Authorizes Stock Repurchase Program
In a move initiated by recent tragic events and economic uncertainty, global customer relationship management (CRM) solutions provider TeleTech Holdings, Inc. has authorized a stock repurchase program. The initiative will allow repurchase of up to 10 percent of outstanding common stock — approximately 77 million shares as of September 17, 2001.
“We have tremendous belief in the long-term value of our franchise and in the resiliency of our financial markets,” said Ken Tuchman, chairman and CEO of TeleTech Holdings. “We will continue to monitor the ongoing trading patterns of our stock and repurchase shares as and if appropriate based on market conditions.”
The share repurchase is pursuant to and in accordance with the Securities and Exchange Commission's September 14, 2001 Emergency Order Pursuant to Section 12(k)(2) of the Securities and Exchange Act of 1934 Taking Temporary Action to Respond to Market Developments. Any purchases under TeleTech's stock repurchase program may be made, from time-to-time, in the open market, through block trades or otherwise. Depending on market conditions and other factors, these purchases may be commenced or suspended at any time or from time-to-time without prior notice.
Headquartered in Englewood, Colo. with operations in twelve countries, TeleTech's CRM capabilities include B2B electronic channel management and database management. TeleTech integrates a full spectrum of voice and Internet communications, including e-mail response, chat and extensive Web co-browsing capabilities.
