Kronos(R) Announces Executive Succession Plan; Mark Ain to Become Executive Chairman; Aron Ain to Become Chief Executive Officer; Paul Lacy to Become President

Mark Ain will assume the role of Executive Chairman of the Board of Directors of Kronos Incorporated (Photo: Business Wire)

CHELMSFORD, Mass.--()--Sept. 14, 2005--Kronos(R) Incorporated (Nasdaq: KRON) today announced that Mark S. Ain, founder, chairman, and chief executive officer of Kronos, will become executive chairman of the Board of Directors. As part of the succession plan, Aron Ain will become chief executive officer, and Paul Lacy will become president in addition to being the company's chief financial officer. These changes will become effective on Monday, Oct. 31, exactly 28 years after Kronos was incorporated on Monday, Oct. 31, 1977. Aron Ain is also expected to be elected to the Board of Directors at the Board's next scheduled meeting.

"This change is a very important and exciting milestone in our plan to evolve the top leadership of Kronos to ensure the company's continued growth. Kronos is the leader in workforce management with a strong track record of innovation and performance. This organizational progression gives us the best leadership structure to continue on this path of success," said Mark Ain. "Aron and Paul are tested leaders who are highly respected by our employees, customers, partners, and shareholders. Their skills will be invaluable in taking Kronos to the next level."

Aron Ain, Kronos' chief operating officer since 2002, joined Kronos in 1979. Serving in various sales and service management roles for much of his tenure at Kronos, he led the development of the company's worldwide field organization. Ain has been an executive officer of the company since 1988. As chief operating officer, Ain has been instrumental in driving operational excellence across all of Kronos' business operations, and has had direct responsibility for Kronos' engineering and marketing organizations, as well as for worldwide sales and service. In his new role, Ain will bring new energy and passion for Kronos' total business operations, and directly lead the company's strategy to become the global leader in workforce management.

Paul Lacy joined Kronos in 1988 and most recently served as executive vice president and chief financial and administrative officer. In his new role, he will assume the responsibilities of president, and will also continue to be responsible for overseeing the corporate-wide finance, legal, information technology, manufacturing, human resources, and administrative functions of the company. In addition, Lacy will be responsible for the company's investor relations, strategic planning, and business development activities. During his tenure at Kronos, Lacy has been instrumental in making significant improvements in Kronos' financial and administrative functions, and in building Kronos' relationships with the investment community.

As executive chairman of the Board, Mark Ain will remain engaged in Kronos operations, and will continue to make significant contributions to the business. Keeping in stride with other visionary entrepreneurs in the technology industry, Ain will maintain this level of involvement in his role of executive chairman.

"Mark's visionary thinking and inspiring leadership have been instrumental in building Kronos into one of the best performing companies in the history of the software industry," said Aron Ain. "We are very pleased that Mark will remain part of the company's leadership, so that we will continue to benefit from his advice, counsel, and far-reaching industry influence."

"We owe a great deal of gratitude to Mark for not only founding Kronos, but also for his enormous contributions in shaping the workforce management market over nearly three decades," said Paul Lacy. "Mark is leaving the position of chief executive officer at a time when Kronos is extraordinarily well positioned for future success."

About Kronos Incorporated

Kronos Incorporated is the most trusted name in workforce management. Kronos helps organizations staff, develop, deploy, track, and reward their workforce, resulting in reduced costs, increased productivity, better decision-making, improved employee satisfaction, and alignment with organizational objectives. More than 20 million people use a Kronos solution every day. Learn more about Kronos' high-impact enterprise solutions at www.kronos.com.

(C) 2005 Kronos Incorporated. Kronos and the Kronos logo are registered trademarks of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

Contacts

Kronos Incorporated
Media Contact:
Michele Glorie, 978-947-2855
mglorie@kronos.com
or
Investor Contact:
Mindy Kohl, 978-947-5156
mkohl@kronos.com

Contacts

Kronos Incorporated
Media Contact:
Michele Glorie, 978-947-2855
mglorie@kronos.com
or
Investor Contact:
Mindy Kohl, 978-947-5156
mkohl@kronos.com