SOURCE: Casella Waste Systems, Inc.
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March 03, 2008 09:00 ET
Casella Waste Systems, Inc. Names Michael K. Burke to Board of Directors
RUTLAND, VT--(Marketwire - March 3, 2008) - Casella Waste Systems, Inc. (NASDAQ: CWST), a
regional solid waste, recycling and resource management services company,
announced today that Michael K. Burke has been elected as a member of its
board of directors.
Mr. Burke has served in a number of senior financial roles, most recently
as Executive Vice President and Chief Financial Officer of Intermagnetics
General Corporation, a publicly traded medical device company, from
December 2001 until its sale to Royal Philips Electronics in November 2006.
Before joining Intermagnetics, Burke was Executive Vice President and Chief
Financial Officer of HbT, Inc., a private company manufacturing on-site
hydrogen generators for industrial markets and stationary & transportation
hydrogen processors for the fuel cell market, and before that nearly twenty
years of investment banking experience having last served as a Managing
Director at CIBC Oppenheimer (now CIBC World Markets).
"Michael is a terrific addition to our board of directors," John W.
Casella, chairman and chief executive officer, said. "His background as the
chief financial officer of a successful public company and before that as a
senior investment banker with significant Wall Street experience will bring
valuable perspective as we continue our efforts to enhance shareholder
value."
"In addition, his experience in positioning companies as leaders in energy
and technology will provide key strategic insight as we leverage our assets
and skills in the areas of resource sustainability," Casella said.
"I'm excited to join the board of Casella at this important time in the
company's history," Burke said. "The opportunities to create shareholder
value in a company that is leading its industry towards a model that
rewards an approach to resource renewal and sustainability are
significant."
Mr. Burke replaces D. Randolph Peeler, who had served as a designee of the
holders of the Series A Convertible Preferred Stock of the Company, which
was redeemed in August 2007.
Casella Waste Systems is an integrated solid waste and resource management
company headquartered in Rutland, Vermont. In addition to providing
traditional solid waste collection, transfer and disposal services, in the
last year the company renewed the life-cycle of over 3.8 billion pounds of
recyclable material (the equivalent of a line of fully loaded garbage
trucks stretching from New York City to Omaha, Nebraska) and produced over
91,500 MWh of clean, renewable energy from landfill gas-to-energy
facilities (enough energy to power a community of 33,000 people each year).
It is the only solid waste services company participating in the U.S.
Environmental Protection Agency's Climate Leaders program to reduce
greenhouse gases.
For further information, contact Ned Coletta, director of investor
relations at (802) 772-2239, or visit the company's website at
http://www.casella.com.