MINNEAPOLIS, Nov. 3, 2014 /PRNewswire/ -- Appliance Recycling
Centers of America, Inc. (NASDAQ: ARCI), a leading provider of
appliance recycling and retailing services, today announced that
Jeffrey Cammerrer, the company's
chief financial officer (CFO), will be leaving to take a position
with an out-of-state private equity owned firm in the health care
industry. Cammerrer will step down as CFO effective November 21, 2014, but will continue to assist
the company with various matters to support an orderly transition
through the first quarter of 2015. Cammerrer started with the
company in July 2008 as corporate
controller and was promoted to CFO in October 2012, with overall responsibility for
accounting, financial planning, reporting and analysis, treasury
and taxation.
Effective November 22, 2014,
Mark Eisenschenk, president and
chief executive officer, will serve as the company's acting CFO and
principal accounting officer while the company considers both
internal and external candidates.
"Jeff has been a great asset to ARCA during his six years with
us." said Mark Eisenschenk. "I have
great respect for Jeff's many talents and accomplishments, and we
appreciate the solid financial foundation he helped build for our
company. We thank Jeff for all his contributions and wish him
success in all his future endeavors. He will be missed."
About ARCA
ARCA's three business components are uniquely positioned in
the industry to work together to provide a full array of
appliance-related services. ARCA Advanced Processing, LLC employs
advanced technology to refine traditional appliance recycling
techniques to achieve optimal revenue-generating and environmental
benefits. ARCA is also the exclusive North American distributor for
UNTHA Recycling Technology (URT), one of the world's leading
manufacturers of technologically advanced refrigerator recycling
systems and recycling facilities for electrical household
appliances and electronic scrap. ARCA's regional centers process
appliances at end of life to remove environmentally damaging
substances and produce material byproducts for recycling for
utilities in the U.S. and Canada.
Eighteen company-owned stores under the name ApplianceSmart,
Inc.® sell new appliances directly to consumers and
provide affordable ENERGY STAR® options for energy
efficiency appliance replacement programs.
This press release contains statements that are
forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995, including statements regarding
ARCA's future success. These forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from the statements made, including the risks
associated with general economic conditions, competition in the
retail and recycling industries and regulatory risks. Other factors
that could cause operating and financial results to differ are
described in ARCA's periodic reports filed with the Securities and
Exchange Commission. Other risks may be detailed from time to time
in reports to be filed with the SEC.
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SOURCE Appliance Recycling Centers of America, Inc.