TrueBlue Appoints R. Chris Kreidler as Chair of the Board
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2026
0mins
TrueBlue, confirmed the appointment of R. Chris Kreidler as Chair of the TrueBlue Board of Directors, succeeding Jeffrey Sakaguchi. Kreidler has served on TrueBlue's Board since July 2020 and currently serves as a senior advisor to McKinsey & Company and as a C-suite coach. Mr. Sakaguchi and Colleen Brown retired from their roles as directors of the Board at the Company's 2026 Annual Meeting of Shareholders held on May 11, 2026. Paul Reitz, who joined the Board in 2023, has been appointed Chair of the Corporate Governance and Nominating Committee of the TrueBlue Board. These changes were effective as of the conclusion of the 2026 Annual Meeting.
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Current: 6.120
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Current: 6.120
Low
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Averages
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About TBI
TrueBlue, Inc. provides specialized workforce solutions. Its segments include PeopleReady, PeopleScout and PeopleManagement. The PeopleReady segment provides on-demand and skilled labor in a range of industries that include construction, transportation, manufacturing, retail, hospitality and energy. The PeopleScout segment provides permanent employee recruitment process outsourcing, employer branding services and management of outsourced labor service providers through the segments: PeopleScout recruitment process outsourcing (RPO), which outsourced recruitment of permanent employees on behalf of clients and employer branding services, and PeopleScout managed service provider (MSP), which manages multiple third-party staffing vendors on behalf of clients. PeopleManagement segment offers contingent, on-site industrial staffing and commercial driver services. Its Healthcare Staffing Professionals offer long-term and permanent staffing solutions primarily focused on healthcare positions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
TrueBlue Rejects HireQuest's $105M Acquisition Offer
- Acquisition Proposal Rejected: TrueBlue (TBI) board rejected an unsolicited $105 million cash offer from HireQuest (HQI) for its PeopleReady on-demand segment, asserting that the bid materially undervalues a core strategic asset that is experiencing increased demand and strong momentum despite challenging market conditions.
- Historical Proposal Review: Last May, TrueBlue also turned down HireQuest's all-stock acquisition proposal at $7.50 per share, demonstrating TrueBlue's firm stance on its asset value and reflecting the company's confidence in future growth prospects.
- Positive Stock Reaction: Following the rejection of the acquisition proposal, TrueBlue's shares rose 1.4% on Wednesday, indicating increased market confidence in the company's independent operations and reflecting investor optimism regarding its future performance.
- Advisory Team Support: TrueBlue has engaged Barclays as its financial advisor and Sidley Austin LLP as legal counsel, ensuring professional support during acquisition negotiations, which further strengthens its strategic decision-making capabilities and industry position.
See More
TrueBlue Rejects Unsolicited Acquisition Proposal from HireQ
- Acquisition Proposal Rejected: TrueBlue (TBI) announced on Wednesday that its board has rejected an unsolicited, non-binding acquisition proposal from HireQ, indicating the company's resistance to external acquisition intentions, which may affect shareholder confidence in its future strategy.
- Board Decision Context: The rejected proposal was non-binding, reflecting the board's cautious approach in evaluating acquisition interests, likely based on a commitment to the company's independent operations and long-term growth strategy.
- Market Reaction Anticipation: The rejection of the acquisition proposal may lead to short-term stock price volatility, and investors should monitor the company's strategic direction and its impact on market competitiveness, especially amid accelerating industry consolidation.
- Future Strategic Outlook: TrueBlue's decision to reject the proposal may suggest a continued focus on internal growth and business optimization, prompting investors to pay attention to the company's future strategic initiatives and their potential impact on market share.
See More
HireQuest Proposes $105M Acquisition of TrueBlue's Staffing Operations
- Acquisition Proposal: HireQuest (HQI) has submitted a $105 million cash offer to acquire TrueBlue's (TBI) PeopleReady on-demand staffing operations, aiming to enhance TrueBlue's overall value by divesting an underperforming segment.
- Shareholder Value Enhancement: According to HQI CEO Richard Hermanns, this acquisition proposal represents $3.45 per share, potentially providing significant cash returns to TrueBlue shareholders, which could be used for debt repayment or strategic business expansion.
- Evaluation Process: TrueBlue has confirmed receipt of the proposal and stated that its board is working with Barclays and Sidley Austin to evaluate the offer and its implications for shareholders, demonstrating a commitment to shareholder interests.
- Market Response: HireQuest made multiple acquisition offers in 2025, ranging from $7.50 to $12.30 per share, reflecting an improving demand for on-demand staffing services, which may lead to more favorable transaction conditions for both parties.
See More
TrueBlue Responds to HireQuest's Transaction Proposal
- Board Review of Proposal: TrueBlue's Board of Directors is carefully reviewing the latest unsolicited transaction proposal from HireQuest to ensure actions align with shareholder interests, demonstrating the company's commitment to fiduciary responsibilities.
- Advisory Team Support: TrueBlue has engaged Barclays as its financial advisor and Sidley Austin LLP as legal counsel, ensuring professional support during the evaluation of the proposal, which enhances decision-making transparency and effectiveness.
- Market Positioning and Mission: As a leading provider of specialized workforce solutions, TrueBlue has connected over 10 million people with work and served more than 3 million clients since its inception, showcasing its strong influence and market position in the industry.
- Forward-Looking Statement Risks: TrueBlue highlights that forward-looking statements regarding future performance and operations are subject to various risks, including economic conditions, investor actions, and market changes, emphasizing the company's strategies and flexibility in uncertain environments.
See More
HireQuest Proposes $105 Million Acquisition of TrueBlue's On-Demand Segment
- Acquisition Proposal Overview: HireQuest has proposed a cash offer of $105 million to acquire TrueBlue's People-Ready segment, reflecting its ongoing interest in the company's assets, particularly after failing to finalize a deal over the past year.
- Historical Offer Review: In 2025, HireQuest made multiple acquisition offers to TrueBlue ranging from $7.50 to $12.30 per share, all of which were rejected, highlighting the complexities and challenges in negotiations between the two parties.
- Business Integration Potential: CEO Richard Hermanns stated that this acquisition would complement HireQuest's operations with TrueBlue's on-demand business, expected to unlock underappreciated value and provide TrueBlue with cash flow to repay debt or make strategic investments.
- Shareholder Value Enhancement: The proposal represents a value of $3.45 per share, and HireQuest hopes that the TrueBlue Board will recognize this opportunity as a clear path to creating additional value for TrueBlue shareholders, promoting long-term growth.
See More
TrueBlue Appoints New Board Chair
- New Board Chair: TrueBlue has appointed R. Chris Kreidler as the chair of its board of directors, succeeding the retiring Jeffrey B. Sakaguchi, with Kreidler having served on the board since July 2020, bringing valuable experience to the role.
- Executive Background: Currently a senior advisor at McKinsey & Company, Kreidler's expertise in the consulting industry is expected to provide significant support for TrueBlue's strategic development moving forward.
- Board Changes: The retirement of Sakaguchi and Colleen B. Brown marks a significant personnel shift within TrueBlue's board, which may impact the company's governance structure and decision-making processes.
- Future Outlook: Under the new chair's leadership, TrueBlue may reassess its strategic direction to adapt to market changes and enhance overall company performance.
See More
TrueBlue Rejects HireQuest's $105M Acquisition Offer
- Acquisition Proposal Rejected: TrueBlue (TBI) board rejected an unsolicited $105 million cash offer from HireQuest (HQI) for its PeopleReady on-demand segment, asserting that the bid materially undervalues a core strategic asset that is experiencing increased demand and strong momentum despite challenging market conditions.
- Historical Proposal Review: Last May, TrueBlue also turned down HireQuest's all-stock acquisition proposal at $7.50 per share, demonstrating TrueBlue's firm stance on its asset value and reflecting the company's confidence in future growth prospects.
- Positive Stock Reaction: Following the rejection of the acquisition proposal, TrueBlue's shares rose 1.4% on Wednesday, indicating increased market confidence in the company's independent operations and reflecting investor optimism regarding its future performance.
- Advisory Team Support: TrueBlue has engaged Barclays as its financial advisor and Sidley Austin LLP as legal counsel, ensuring professional support during acquisition negotiations, which further strengthens its strategic decision-making capabilities and industry position.
See More
TrueBlue Rejects Unsolicited Acquisition Proposal from HireQ
- Acquisition Proposal Rejected: TrueBlue (TBI) announced on Wednesday that its board has rejected an unsolicited, non-binding acquisition proposal from HireQ, indicating the company's resistance to external acquisition intentions, which may affect shareholder confidence in its future strategy.
- Board Decision Context: The rejected proposal was non-binding, reflecting the board's cautious approach in evaluating acquisition interests, likely based on a commitment to the company's independent operations and long-term growth strategy.
- Market Reaction Anticipation: The rejection of the acquisition proposal may lead to short-term stock price volatility, and investors should monitor the company's strategic direction and its impact on market competitiveness, especially amid accelerating industry consolidation.
- Future Strategic Outlook: TrueBlue's decision to reject the proposal may suggest a continued focus on internal growth and business optimization, prompting investors to pay attention to the company's future strategic initiatives and their potential impact on market share.
See More
HireQuest Proposes $105M Acquisition of TrueBlue's Staffing Operations
- Acquisition Proposal: HireQuest (HQI) has submitted a $105 million cash offer to acquire TrueBlue's (TBI) PeopleReady on-demand staffing operations, aiming to enhance TrueBlue's overall value by divesting an underperforming segment.
- Shareholder Value Enhancement: According to HQI CEO Richard Hermanns, this acquisition proposal represents $3.45 per share, potentially providing significant cash returns to TrueBlue shareholders, which could be used for debt repayment or strategic business expansion.
- Evaluation Process: TrueBlue has confirmed receipt of the proposal and stated that its board is working with Barclays and Sidley Austin to evaluate the offer and its implications for shareholders, demonstrating a commitment to shareholder interests.
- Market Response: HireQuest made multiple acquisition offers in 2025, ranging from $7.50 to $12.30 per share, reflecting an improving demand for on-demand staffing services, which may lead to more favorable transaction conditions for both parties.
See More
TrueBlue Responds to HireQuest's Transaction Proposal
- Board Review of Proposal: TrueBlue's Board of Directors is carefully reviewing the latest unsolicited transaction proposal from HireQuest to ensure actions align with shareholder interests, demonstrating the company's commitment to fiduciary responsibilities.
- Advisory Team Support: TrueBlue has engaged Barclays as its financial advisor and Sidley Austin LLP as legal counsel, ensuring professional support during the evaluation of the proposal, which enhances decision-making transparency and effectiveness.
- Market Positioning and Mission: As a leading provider of specialized workforce solutions, TrueBlue has connected over 10 million people with work and served more than 3 million clients since its inception, showcasing its strong influence and market position in the industry.
- Forward-Looking Statement Risks: TrueBlue highlights that forward-looking statements regarding future performance and operations are subject to various risks, including economic conditions, investor actions, and market changes, emphasizing the company's strategies and flexibility in uncertain environments.
See More
HireQuest Proposes $105 Million Acquisition of TrueBlue's On-Demand Segment
- Acquisition Proposal Overview: HireQuest has proposed a cash offer of $105 million to acquire TrueBlue's People-Ready segment, reflecting its ongoing interest in the company's assets, particularly after failing to finalize a deal over the past year.
- Historical Offer Review: In 2025, HireQuest made multiple acquisition offers to TrueBlue ranging from $7.50 to $12.30 per share, all of which were rejected, highlighting the complexities and challenges in negotiations between the two parties.
- Business Integration Potential: CEO Richard Hermanns stated that this acquisition would complement HireQuest's operations with TrueBlue's on-demand business, expected to unlock underappreciated value and provide TrueBlue with cash flow to repay debt or make strategic investments.
- Shareholder Value Enhancement: The proposal represents a value of $3.45 per share, and HireQuest hopes that the TrueBlue Board will recognize this opportunity as a clear path to creating additional value for TrueBlue shareholders, promoting long-term growth.
See More
TrueBlue Appoints New Board Chair
- New Board Chair: TrueBlue has appointed R. Chris Kreidler as the chair of its board of directors, succeeding the retiring Jeffrey B. Sakaguchi, with Kreidler having served on the board since July 2020, bringing valuable experience to the role.
- Executive Background: Currently a senior advisor at McKinsey & Company, Kreidler's expertise in the consulting industry is expected to provide significant support for TrueBlue's strategic development moving forward.
- Board Changes: The retirement of Sakaguchi and Colleen B. Brown marks a significant personnel shift within TrueBlue's board, which may impact the company's governance structure and decision-making processes.
- Future Outlook: Under the new chair's leadership, TrueBlue may reassess its strategic direction to adapt to market changes and enhance overall company performance.
See More
