Stericycle Inc : Stericycle, Inc. Names Charlie Alutto to Succeed Mark Miller as CEO as of January 1, 2013; Miller to Remain as Executive Chairman
02/14/2012| 04:05pm US/Eastern
Stericycle, Inc. (NASDAQ:SRCL) announced today that the board of
directors has unanimously elected Charles A. Alutto, current President
of Stericycle, USA, to succeed Mr. Miller as Stericycle's Chief
Executive Officer on January 1, 2013. Mr. Miller will continue working
at Stericycle in his current roles as Chairman and CEO until then and as
Executive Chairman beginning January 1, 2013. These changes result from
the Company's long term executive succession planning process.
"During my 20 years as CEO, Stericycle has provided outstanding service
to our customers, developed and supported our employees and met and
exceeded the goals of our investors. I am confident that with the
management changes we are making we will continue this track record,"
said Mr. Miller. "The decision to transition the CEO position to Charlie
and for me to continue as Executive Chairman was planned and coordinated
with the full consensus and support of the executive team and the Board.
I remain firmly committed to Stericycle and plan to remain an active
member of the management team for years to come."
"Mark has provided outstanding leadership to Stericycle since he joined
the company as CEO in 1992," said Jack Schuler, Lead Director of
Stericycle's Board. "His vision and leadership has earned him the
respect of the entire organization. We look forward to him continuing on
with the company as Executive Chairman. Charlie has a proven track
record at Stericycle, over 23 years of experience in healthcare services
and the trust and confidence of the executive team as well as the board
of directors. We welcome Charlie to his new position and look forward to
working with him in the years to come."
"It has been a pleasure working with Mark over the years and I look
forward to working closely with him during this transition and later as
CEO," said Charlie Alutto. "Mark has grown Stericycle from a small
start-up company to a worldwide leader dedicated to protecting people
and reducing risk for our customers worldwide. Our corporate culture
built around our customers, employees, and shareholders is a direct
result of Mark's leadership and vision. I also look forward to
continuing to work with Rich Kogler, COO, Frank ten Brink, CFO, Mike
Collins, President, RMS and all of our team members worldwide building
on the solid foundation that Mark has established for our company."
Mr. Alutto has served as President, Stericycle USA since January 2010.
Charlie has over 23 years experience in healthcare waste and compliance
services and has served in many leadership positions at Stericycle since
he joined the company in May 1997, including VP and Managing Director of
Stericycle's European business, Vice President of Stericycle's hospital
business and Area VP of Operations. Mr. Alutto has a BS degree in
Finance from Providence College and a MBA degree from St. John's
Safe Harbor Statement: Statements in this press release may contain
forward-looking statements that involve risks and uncertainties, some of
which are beyond our control (for example, general economic conditions).
Our actual results could differ significantly from the results described
in the forward-looking statements. Factors that could cause such
differences include changes in governmental regulation of medical waste
collection and treatment and increases in transportation and other
operating costs, as well as the other factors described in our filings
with the U.S. Securities and Exchange Commission. As a result, past
financial performance should not be considered a reliable indicator of
future performance, and investors should not use historical trends to
anticipate future results or trends. We make no commitment to disclose
any subsequent revisions to forward-looking statements.
Frank J.M. ten Brink, (847) 607-2012
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