Environmental and Waste Services Financial Leader Tod C. Holmes Appointed to Nuverra Board of Directors
August 11 2014 - 4:05PM
Business Wire
Nuverra Environmental Solutions (NYSE:NES), a leading provider
of integrated environmental solutions to energy and industrial end
markets, announced today that its Board of Directors has appointed
Tod C. Holmes, former Executive Vice President and Chief Financial
Officer of Republic Services, Inc., to serve as an independent
director of the Company and a member of the Board’s Audit
Committee
“Tod will be an invaluable asset to our Board,” said Chairman
and Chief Executive Officer Mark D. Johnsrud. “His knowledge and
voice are well-respected throughout the environmental services
industry. His experience growing companies, coupled with his
background in the energy sector, makes him a great fit for Nuverra.
We look forward to Tod’s contributions as we continue to position
our Company for growth and success.”
The appointment of Mr. Holmes fills a vacancy created by the
resignation of Mr. Kevin L. Spence, who has served on the Board
since 2010. The size of the eight-member Board will remain
unchanged. “We thank Kevin very much for his service to Nuverra and
wish him the best in his new business ventures,” Mr. Johnsrud
said.
Mr. Holmes’ appointment as a Class 3 director will remain in
effect until the 2016 annual meeting of stockholders, at which time
his continued service will be subject to shareholder approval.
About Tod C. Holmes
Mr. Holmes is an accomplished business and financial leader with
39 years of experience leading companies in environmental services,
waste, recycling and geophysical services. Prior to joining the
Nuverra Board, Mr. Holmes served as Executive Vice President and
Chief Financial Officer of Republic Services, Inc. (NYSE:RSG)
(“Republic Services”) from December 2008 until January 2013.
Republic Services is a Fortune 300 company focused on environmental
services, including the collection, recycling, processing, and
disposal of solid waste in the United States. Prior to Mr. Holmes
being named Senior Vice President and Chief Financial Officer of
Republic Services in August 1998, he served as Vice President of
Finance for the Solid Waste Group of Republic Industries, Inc. (now
AutoNation). In the nearly three decades prior to joining Republic
Industries, Mr. Holmes held management and executive-level
positions with numerous companies, including Browning Ferris
Industries, Inc., Compagnie Generale de Geophysique, and KPMG. At
KPMG, Mr. Holmes managed audits of public companies in the
exploration and production, drilling and energy services industry.
Mr. Holmes holds a Bachelor of Science degree in Economics and a
Masters of Business Administration degree, with an emphasis in
Finance and Accounting, from the University of Denver.
About Nuverra
Nuverra Environmental Solutions is among the largest companies
in the United States dedicated to providing comprehensive and
full-cycle environmental solutions to customers in energy and
industrial end-markets. Nuverra focuses on the delivery,
collection, treatment, recycling, and disposal of restricted
solids, water, wastewater, used motor oil, spent antifreeze, waste
fluids and hydrocarbons. The Company continues to expand its suite
of environmentally compliant and sustainable solutions to customers
who demand stricter environmental compliance and accountability
from their service providers. Interested parties can access
additional information about Nuverra on the Company's web site at
http://www.nuverra.com, and in documents filed with the United
States Securities and Exchange Commission, on the SEC's web site at
http://www.sec.gov.
Forward-Looking
Statements
This press release may contain "forward-looking statements"
within the meaning of the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. Words such
as "expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," “confident,” and
similar expressions are intended to identify such forward-looking
statements. Forward-looking statements in the press release
include, without limitation, forecasts of growth, revenues,
business activity, adjusted EBITDA, pipeline and solids treatment
initiatives, and landfill and treatment facility activities, as
well as statements regarding possible divestitures, timing of such
divestitures, acquisitions, financings, business growth and
expansion opportunities, availability of capital, ability to access
capital markets, and other matters that involve known and unknown
risks, uncertainties and other factors that may cause results,
levels of activity, performance or achievements to differ
materially from results expressed or implied by this press release.
Such risk factors include, among others: difficulties encountered
in acquiring and integrating businesses; uncertainties in
evaluating goodwill and long-lived assets for potential impairment;
potential impact of litigation; risks of successfully consummating
expected transactions within the timeframes or on the terms
contemplated, including risks that such transactions may fail to
close due to unsatisfied closing conditions; uncertainty relating
to successful negotiation, execution and consummation of all
necessary definitive agreements in connection with our strategic
initiatives; whether certain markets grow as anticipated; pricing
pressures; risks associated with our indebtedness; low oil and or
natural gas prices; changes in customer drilling and completion
activities and capital expenditure plans; shifts in production
among shale areas in which we operate and/or into shale areas in
which we currently do not have operations; control of costs and
expenses; and the competitive and regulatory environment.
Additional risks and uncertainties are set forth in the Company's
Form 10-Q for the three months ended June 30, 2014, its Annual
Report on Form 10-K for the fiscal year ended December 31, 2013, as
well as the Company's other reports filed with the United States
Securities and Exchange Commission, which are available at
http://www.sec.gov and the Company's web site at
http://www.nuverra.com. As a result of the foregoing considerations
and the other limitations of non-GAAP measures described elsewhere
herein, you are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
presentation. All forward-looking statements are qualified in their
entirety by this cautionary statement. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Nuverra Environmental Solutions, Inc.Liz Merritt,
602-903-7802VP-Investor Relations &
Communicationsir@nuverra.comorThe Piacente Group, Inc.Don Markley
or Glenn Garmont, 212-481-2050nuverra@tpg-ir.com