SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
August 14, 2001
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(Date of earliest event reported)
SAFETY-KLEEN CORP.
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(Exact name of Registrant as specified in its charter)
Delaware 001-8368 51-0228924
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
1301 Gervais Street, Suite 300,
Columbia, South Carolina 29201
(Address of principal executive offices, including zip code)
(803) 933-4200
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On August 14, 2001 the registrant issued the press release filed with this
Current Report on Form 8-K as Exhibit 99.1. The information contained in Exhibit
99.1 is incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description
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99.1 Press Release issued August 14, 2001 (Filed herewith.)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SAFETY-KLEEN CORP.
Date: August 15, 2001 By: /s/ Larry W. Singleton
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Larry W. Singleton
Senior Vice President of Finance and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release issued August 14, 2001 (Filed herewith.)
Exhibit 99.1
FOR IMMEDIATE RELEASE Media Contact: John Kyte or Wade Gates
August 14, 2001 803-933-4224
SAFETY-KLEEN ANNOUNCES NEW CHAIRMAN, CEO AND PRESIDENT
COLUMBIA, SC - Safety-Kleen Corp. today 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
the Company'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. Mr. Thomas and Mr. Wrenn will serve as non-executive Vice Chairmen of
the Board of Directors, providing specialized expertise and counsel to Mr.
Rittenmeyer on on-going divestiture, litigation and environmental matters.
During its recent meeting, the Safety-Kleen Board of Directors commended Mr.
Thomas and Mr. Wrenn for their efforts in stabilizing and managing the Company
during the past 18 very difficult months.
"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.
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Prior to working with AmeriServe, Mr. Rittenmeyer served as Chairman, President
and CEO of RailTex, Inc., in San Antonio, TX, as President and COO of Ryder TRS,
Inc. (a nationwide truck rental business which had been divested from Ryder
System, Inc.) in Denver, CO, as a Principal with Jay Alix & Associates, a
nationwide business turn-around firm, and as President and COO of Merisel (a
distributor of high tech equipment and software) in El Segundo, CA. He has
served on the Board of Directors of AmeriServe, RailTex, Ryder TRS,
Groceryworks.com, and Merisel. He currently serves as a Trustee to the Greenhill
School in Dallas, Texas.
Mr. Rittenmeyer received his MBA from Rockhurst University in Kansas City,
Missouri. He is also a graduate of Wilkes University, in Wilkes-Barre,
Pennsylvania, where he received a B.S. in Commerce and Economics.
Safety-Kleen also filed yesterday, 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, 2002.
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.
Private Securities Litigation Reform Act:
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Sections of this release constitute forward-looking statements that involve a
number of risks and uncertainties. Many factors could cause actual results to
differ materially from our expected results. These factors include court
approval of the proposed management transition; risks associated with emergence
from Chapter 11 bankruptcy protection; continued productive relations with
creditors; resolution of outstanding financial assurance issues; the continued
availability of credit; changes in demand for the Company's services; and
competition.
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