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Business Tools | Monday August 20 Safety-Kleen Announces New Chairman, CEO and PresidentCOLUMBIA, S.C. -- Safety-Kleen Corp. has announced the appointment of Mr. Ronald A. Rittenmeyer of Plano, TX, to the positions of Chairman, Chief Executive Officer and President of the Company. Mr. Rittenmeyer has been a member of the Safety-Kleen Board of Directors since April 2001. Mr. Rittenmeyer's appointment is subject to approval by the U.S. Bankruptcy Court and fulfillment of Safety-Kleen's obligations pursuant to his employment contract. A motion requesting approval has been filed and is expected to be heard on August 21, 2001. In the interim, Mr. Rittenmeyer will work closely with Safety-Kleen's existing management team in a non-executive capacity. "This is an honor and an opportunity," Rittenmeyer said. "Safety-Kleen is the nation's preeminent provider of hazardous and industrial waste management services, and I look forward to the challenge of moving the reorganization process forward in an expeditious manner." David E. Thomas, Jr., Safety-Kleen's current Chairman and CEO, and Grover C. Wrenn, the current COO and President, support the senior management change and will transition from their management positions back to the Company's Board of Directors. "Grover and I have appreciated the Board's support, guidance and tireless efforts on behalf of Safety-Kleen," said Thomas. "We welcome Ron Rittenmeyer to his new role and look forward to assisting him in the reorganization of the Company." Mr. Rittenmeyer's business career spans almost 30 years and includes executive positions with Frito-Lay Inc., PepsiCo Foods International and, most recently, AmeriServe, a $10 billion food service company. Mr. Rittenmeyer joined AmeriServe as President and CEO following the company's filing for Chapter 11 bankruptcy protection in 2000. Under Mr. Rittenmeyer's leadership, AmeriServe's bankruptcy case was successfully resolved in just 10 months. Mr. Rittenmeyer is currently the plan administrator for AFD Fund, the post- confirmation estate of AmeriServe. Safety-Kleen also filed, with the support of its lenders, a motion in the U.S. Bankruptcy Court in Delaware for an extension of the period of time during which the Company has the exclusive right to file a reorganization plan. The proposed extension would extend through January 31, 2001. Based in Columbia, South Carolina, Safety-Kleen Corp. is the largest industrial and hazardous waste management company in North America, serving more than 400,000 customers in the U.S. and Canada. The Company and 73 of its U.S. subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code in June 2000. ©2000 Collision Repair Industry INSIGHT | FEATURED INSIGHT Supports the NABC! |