American Ecology Announces Resignation of Chief Financial Officer; Orderly Transition Underway Based on Existing Succession Plan.BOISE, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation). Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area. -- American Ecology Corporation (Nasdaq:ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ) today announced that Senior Vice President and Chief Financial Officer Jim Baumgardner has resigned to accept the position of Senior Vice President and Chief Financial Officer with SECOR SECOR Sequential Collation of Ranges International Inc., a national environmental engineering and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a headquartered in Redmond, Washington. Baumgardner will stay with American Ecology through March 24, 2006, to help ensure an orderly transition of his current duties. In keeping with an executive succession plan previously adopted by the Company's Board of Directors, Vice President and Controller Michael Gilberg will be designated the Company's principal accounting officer. "During his six years with American Ecology Jim made a huge contribution to the Company's successful turnaround effort and its subsequent outstanding financial performance," commented American Ecology President and Chief Executive Officer Stephen Romano. For 2005, American Ecology posted $19.4 million in income from operations, its strongest financial performance since becoming an independent public company twenty two years ago. Management also today reaffirms its 2006 guidance calling for the Company to generate net earnings between $0.72 and $0.82 per fully diluted share. "While Jim will be missed, we have a solid organization, excellent business systems, an experienced senior management team, and a proven growth strategy," Romano added, concluding "The American Ecology team looks forward to another strong year in 2006." American Ecology Corporation, through its subsidiaries, provides radioactive, PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. , hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, steel mills, medical and academic institutions and petro-chemical facilities. Headquartered in Boise, Idaho, American Ecology is the oldest radioactive and hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. services Company in the United States. This press release contains forward-looking statements that are based on our current expectations, beliefs, estimates and assumptions about American Ecology Corporation's industry, markets and circumstances. Actual results may differ materially from what is expressed herein and no assurance can be given that the company will timely locate a successor Chief Financial Officer, successfully implement its business plan, meet its earnings guidance, generate future earnings or increase cash flow. For information on factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , and most recent Form 10-Q Form 10-Q See 10-Q. filed with the Securities and Exchange Commission. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion