MINNEAPOLIS, Aug. 14, 2014 /PRNewswire/ -- Appliance
Recycling Centers of America, Inc. (NASDAQ: ARCI), a leading
provider of appliance recycling and retailing services, today
announced that Edward R. (Jack)
Cameron is retiring as the company's president and chief
executive officer and that Mark
Eisenschenk has been promoted to the position of president
and chief executive officer.
Cameron (74) founded the company in 1976 and served as
president, chief executive officer and chairman of the board until
announcing his retirement; he will remain with the company and
continue to serve as chairman of the five-member board of
directors. Cameron will work closely with Eisenschenk to ensure a
smooth transition of executive leadership.
Under Cameron, the business has grown its revenues to over
$130 million with more than 400
employees operating throughout North
America. Through his extensive involvement in the appliance
retail and recycling industries, Cameron was instrumental in
helping develop national regulations and standards for the proper
management of ozone-depleting refrigerants and has been an active
contributor to the development of carbon offset policy in
California. Cameron is also
responsible for introducing innovative appliance recycling
equipment to North America that
prevents the release of greenhouse gases into the atmosphere. As
ARCA's chairman, Cameron will continue to be a strong advocate for
the company, energy efficiency and the environment.
Cameron said: "After more than 35 years as the head of ARCA, I
believe this is the right time to turn ARCA's leadership over to
the next generation. Since joining ARCA, Mark immersed himself in
all aspects of ARCA's operations to prepare for his new role as
president and CEO. Mark's knowledge of ARCA's business segments,
combined with his previously gained experience and skills, give me
confidence that ARCA will prosper under his direction."
Eisenschenk has served as the company's chief operating officer
and president of its wholly owned subsidiary ARCA Recycling, Inc.,
since July 2013. As COO he assumed
responsibility for strategic direction and driving performance in
the company's day-to-day operations in preparation for Cameron's
retirement. Before joining ARCA, Eisenschenk was president of
Vanguard Graphics International, LLC, a global graphic arts
company, and chief executive officer of Xitron, LLC, a
multinational software developer and distributor. He also served in
leadership roles at Honeywell International and an EPA regulated
company.
Eisenschenk said: "I am excited about leading ARCA's growth in
the coming years. I appreciate all Jack has taught me about the
business this past year and I respect Jack for his many
accomplishments as a pioneer in the appliance recycling industry.
ARCA has a diverse but interrelated business structure, an
enthusiastic team of passionate and competent associates, and a
wealth of opportunities, which we plan to pursue aggressively."
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.
Logo -
http://photos.prnewswire.com/prnh/20140210/CG62255LOGO
SOURCE Appliance Recycling Centers of America, Inc.