HOUSTON, Nov. 10, 2015 /PRNewswire/ -- Service Corporation
International (NYSE: SCI) announced today that Mr. Robert L.
"Bob" Waltrip will be stepping aside as Executive Chairman of
the Board of Directors after 53 years of devoted service to the
Company. He will remain on the Board and will continue with
the Company in the position of Founder and Chairman Emeritus.
Mr. Tom Ryan will be appointed
Chairman of the Board and CEO, and Mr. Tony
Coelho will be appointed to the new position of Lead
Director. These appointments are effective January 1, 2016.
Tom Ryan, CEO, stated, "Bob has
dedicated his life to building SCI not only into the industry
leader but also a Company whose culture is built around Respect,
Integrity, Service Excellence and Enduring Relationships. On
behalf of the Board and our 24,000 employees, I wish to express our
sincere thanks for his phenomenal entrepreneurial spirit, passion,
and enthusiasm. SCI would not be what it is today without his
vision and leadership."
Bob Waltrip said, "I am very
proud of our Company and what we have been able to accomplish over
the last 53 years. As I step away from the role of Executive
Chairman, I am glad that Tom Ryan
who succeeded me as CEO will now also succeed me as Chairman.
I am proud of how the Company has grown and matured over the
years, and I am particularly proud of the way Tom has lead the
Company as our CEO for over ten years. I am confident that
SCI will continue to be in good hands."
Mr. Ryan, CEO, also stated, "We have a strong and very capable
Board and Tony Coelho is the right
person to assume the role of Lead Director. Mr. Coelho has
all the necessary skills, expertise and experience, as well as
independence and sound, mature judgement to qualify him for this
role. He is very well respected by his fellow Directors and
will take on greater Board responsibility."
Cautionary Statement on Forward-Looking Statements
The statements in this press release that are not historical
facts are forward-looking statements. These forward-looking
statements have been made in reliance on the "safe harbor"
protections provided under the Private Securities Litigation Reform
Act of 1995. These statements may be accompanied by words
such as "believe," "estimate," "project," "expect," "anticipate,"
or "predict," that convey the uncertainty of future events or
outcomes. These statements are based on assumptions that we
believe are reasonable; however, many important factors could cause
our actual results in the future to differ materially from the
forward-looking statements made herein and in any other documents
or oral presentations made by, or on behalf of us. There can
be no assurance that future dividends will be declared. The
actual declaration of future dividends, and the establishment of
record and payment dates, is subject to final determination by our
Board of Directors each quarter after its review of our financial
performance. Important factors which could cause actual
results to differ materially from those in forward-looking
statements include, among others, restrictions on the payment of
dividends under existing or future credit agreements or other
financing arrangements; changes in tax laws relating to corporate
dividends; a determination by the Board of Directors that the
declaration of a dividend is not in the best interests of the
Company and its shareholders; an increase in our cash needs or a
decrease in available cash; or a deterioration in our financial
condition or results. For further information on these and
other risks and uncertainties, see our Securities and Exchange
Commission filings, including our 2014 Annual Report on Form
10-K. Copies of this document as well as other SEC filings
can be obtained from our website at http://www.sci-corp.com.
We assume no obligation to publicly update or revise any
forward-looking statements made herein or any other forward-looking
statements made by us, whether as a result of new information,
future events or otherwise.
About Service Corporation International
Service Corporation International (NYSE: SCI), headquartered in
Houston, Texas, is North America's leading provider of deathcare
products and services. At September 30,
2015, we owned and operated 1,540 funeral homes and 469
cemeteries (of which 262 are combination locations) in 45 states,
eight Canadian provinces, the District of
Columbia, and Puerto Rico.
Through our businesses, we market the Dignity Memorial® brand which
offers assurance of quality, value, caring service, and exceptional
customer satisfaction. For more information about Service
Corporation International, please visit our website at
www.sci-corp.com. For more information about Dignity Memorial®,
please visit www.dignitymemorial.com.
For additional
information contact:
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Investors:
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Debbie Young -
Director / Investor Relations
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(713)
525-9088
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Media:
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Marianne Gooch-
Managing Director/ Corporate Communications
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(713)
525-9167
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SOURCE Service Corporation International