StoneMor Partners L.P. Announces New CFO, Treasurer and Secretary
April 02 2012 - 7:00AM
As part of its planned management succession program, StoneMor
Partners L.P. (NYSE:STON) announced that Timothy K. Yost, formerly
Vice President – Financial Reporting and Investor Relations, has
been promoted to Chief Financial Officer and Secretary and Paul
Waimberg, currently Vice-President – Finance and Corporate
Development, will also be its Treasurer. William R. Shane, one of
StoneMor's co-founders and current Chief Financial Officer, has
elected to retire from his current full-time management duties, but
will continue to serve as a director of the company, and has agreed
to assume the role of Vice Chairman of the Board of Directors.
Lawrence Miller, StoneMor's President and CEO, stated: "We are
delighted with the promotion of long-time employees Tim Yost and
Paul Waimberg to their new roles here at the company. I also want
to thank my co-founder and long-time partner, Bill Shane, for his
dedication and tremendous contributions to the company. I'm pleased
that he has agreed to stay on as Vice Chairman to aid in the
continuing development of the business."
About StoneMor Partners L.P.
StoneMor Partners L.P., headquartered in Levittown,
Pennsylvania, is an owner and operator of cemeteries and funeral
homes in the United States, with 274 cemeteries and 69 funeral
homes in 28 states and Puerto Rico. StoneMor is the only publicly
traded death care company structured as a partnership. StoneMor's
cemetery products and services, which are sold on both a pre-need
(before death) and at-need (at death) basis, include: burial lots,
lawn and mausoleum crypts, burial vaults, caskets, memorials, and
all services which provide for the installation of this
merchandise.
For additional information about StoneMor Partners L.P., please
visit StoneMor's website, and the Investor Relations section, at
http://www.stonemor.com.
Forward-Looking Statements
Certain statements contained in this press release, including,
but not limited to, information regarding the status and progress
of our operating activities, the plans and objectives of our
management, assumptions regarding our future performance and plans,
and any financial guidance provided, as well as certain information
in other filings with the SEC and elsewhere are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. The words "believe," "may," "will," "estimate,"
"continue," "anticipate," "intend," "project," "expect," "predict"
and similar expressions identify these forward-looking statements.
These forward- looking statements are made subject to certain risks
and uncertainties that could cause actual results to differ
materially from those stated, including, but not limited to, the
following: uncertainties associated with future revenue and revenue
growth; the effect of the current economic downturn; the impact of
our significant leverage on our operating plans; our ability to
service our debt and pay distributions; the decline in the fair
value of certain equity and debt securities held in our trusts; our
ability to attract, train and retain an adequate number of sales
people; uncertainties associated with the volume and timing of
pre-need sales of cemetery services and products; increased use of
cremation; changes in the death rate; changes in the political or
regulatory environments, including potential changes in tax
accounting and trusting policies; our ability to successfully
implement a strategic plan relating to producing operating
improvements, strong cash flows and further deleveraging; our
ability to successfully compete in the cemetery and funeral home
industry; uncertainties associated with the integration or
anticipated benefits of our recent acquisitions or any future
acquisitions; our ability to complete and fund additional
acquisitions; our ability to maintain effective disclosure controls
and procedures and internal control over financial reporting; the
effect of cybersecurity attacks due to our significant reliance on
information technology; uncertainties relating to the financial
condition of third-party insurance companies that fund our pre-need
funeral contracts; and various other uncertainties associated with
the death care industry and our operations in particular.
When considering forward-looking statements, you should keep in
mind the risk factors and other cautionary statements set forth in
our Annual Report on Form 10-K and our Quarterly Reports on Form
10-Q filed with the SEC. 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.
CONTACT: Tim Yost (215) 826-2800
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