Date: August 17, 2009
Source: Casella Waste Systems, Inc.
John Quinn to Resign as Chief Financial Officer of Casella Waste Systems, Inc.
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced today that John Quinn will resign his role as Senior Vice President, Chief Financial Officer and Treasurer effective September 25, 2009.
Mr. Quinn has accepted the position of Executive Vice President and Chief Financial Officer of LKQ Corporation, the largest nationwide provider of alternative replacement parts to repair automobiles and trucks.
"This is a wonderful opportunity for John to work with old friends and colleagues," John W. Casella, Chairman and CEO of Casella Waste Systems, said. "While we are disappointed by John's decision, this opportunity came with a significant compensation package commensurate with the larger size of LKQ, which generates roughly $2.0 billion of annual revenue."
"John's time with the company was very productive from our perspective," Casella said. "He played a key role in the successful refinancing of our senior secured credit facility in July, which has put us on a firm foundation for the future with no major debt maturities until December 31, 2012."
"We thank John for his contribution and wish him the best in his new role," Casella said. "John will continue in his role as Chief Financial Officer until September 25, 2009 to help with a positive transition."
The company has begun an immediate search for a new Chief Financial Officer.
About Casella Waste Systems, Inc.
Casella Waste Systems is an integrated solid waste and resource management company headquartered in Rutland, Vermont. For further information, investors should contact John Casella, Chairman and Chief Executive Officer at (802) 772-2214 or John Quinn, Chief Financial Officer at (802) 772-2241 or Ned Coletta, Director of Investor Relations at (802) 772-2239; or visit the company's website at www.casella.com.
Contact:
John Casella
Chairman and Chief Executive Officer
(802) 772-2214
John Quinn
Chief Financial Officer
(802) 772-2241
Ned Coletta
Director of Investor Relations
(802) 772-2239
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John S. Quinn to Join LKQ Corporation as Executive Vice President and Chief Financial Officer in Fourth Quarter
CHICAGO, Aug. 17, 2009 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQX) today announced that John S. Quinn will join the company as Executive Vice President and Chief Financial Officer in the fourth quarter of 2009.
Joseph Holsten, LKQ's President and Chief Executive Officer, commented, "John has extensive financial experience in managing large multi location businesses." Mr. Holsten added, "John comes with solid international experience that includes businesses in Europe and Asia. He brings a unique blend of skills that include experience in financings, accounting, tax systems, and an operational perspective, that makes him an ideal financial leader for our Company."
Mr. Quinn most recently was Senior Vice President, Chief Financial Officer and Treasurer of Casella Waste Systems Inc. (Nasdaq:CWST) beginning in January 2009. Previously he served eight years with Allied Waste Industries, Inc., a company with annual revenue of approximately $6 billion, where he held various positions of increasing responsibility that included Senior Vice President of Finance and Chief Accounting Officer.
From 1997 through 2000 John served with Waste Management International plc that included the Chief Accounting Officer role. During 1997, Waste Management International plc had annual revenue of approximately $1.8 billion and was publicly traded on the NYSE and the London stock exchange until late 1998. It operated businesses outside of North America for its parent company, Waste Management, Inc. (NYSE:WM).
About LKQ Corporation
LKQ Corporation is the largest nationwide provider of aftermarket collision replacement products, recycled OEM products and refurbished OEM collision replacement products such as wheels, bumper covers and lights which are used to repair light vehicles. LKQ operates approximately 280 facilities offering its customers a broad range of replacement systems, components, and parts to repair automobiles and light, medium and heavy-duty trucks.
For more information, contact:
LKQ Corporation
Sarah Lewensohn, Director, Investor Relations
(312) 621-2793
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