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19.01.2005 18:02:00
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Waste Management Inc. Names David A. Aardsma Senior Vice President Sal
Business Editors
HOUSTON--(BUSINESS WIRE)--Jan. 19, 2005--Waste Management Inc. (NYSE:WMI) today named David A. Aardsma Senior Vice President Sales and Marketing. Aardsma will report directly to Waste Management Chief Executive Officer David P. Steiner. For the past four years, Aardsma served as Waste Management's Vice President of Sales and has worked for the Company since 1977.
In his new role, Aardsma will be responsible for overseeing the Company's sales, marketing, pricing and customer service efforts.
"As the needs of our customers change and evolve, and as the marketplace becomes more competitive, it's important to have strong leadership that understands the business and can direct and differentiate our efforts in the market. David brings that leadership and experience to the position, having been with the company for over 25 years," said David P. Steiner, Waste Management CEO. "Under his leadership, we will continue and accelerate our commitment and efforts relative to extraordinary customer service and profitable growth as well as retaining strong business relationships with our existing customers and securing new business."
In Aardsma's previous position, he supported and directed the Company's sales force. Aardsma also helped to implement Waste Management's Sales Force Effectiveness throughout the organization.
Waste Management Inc. is its industry's leading provider of comprehensive waste management services. Based in Houston, the Company serves municipal, commercial, industrial and residential customers throughout North America.
Certain statements contained in this press release include statements that are "forward-looking statements." Outlined below are some of the risks that the Company faces and that could affect our financial statements for 2004 and beyond and that could cause actual results to be materially different from those that may be set forth in forward-looking statements made by the Company. However, they are not the only risks that the Company faces. There may be additional risks that we do not presently know or that we currently believe are immaterial which could also impair our business. We caution you not to place undue reliance on these forward-looking statements, which speak only as of their dates. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, the Company, from time to time, provides estimates of financial and other data relating to future periods. Such estimates and other information are the Company's expectations at the point in time of issuance but may change at some future point in time. By issuing such estimates the Company has no obligation, and is not undertaking any obligation, to update such estimates or provide any other information relating to such estimates. The following are some of the risks we face:
| -- | the effects competition may have on our profitability or cash flows, including the negative impact to our yield on base business resulting from price roll-backs and lower than average pricing to retain and attract customers; |
| -- | our inability to maintain or expand margins as volumes increase if we are unable to control variable costs or our fixed cost base increases; |
| -- | increases in employee-related costs and expenses, including health care and other employee benefits such as unemployment insurance and workers' compensation, as well as the costs and expenses associated with attracting and retaining qualified personnel; |
| -- | possible increases in expenses due to fuel price increases or fuel supply shortages; |
| -- | the effect that fluctuating commodity prices may have on our operating revenues and expenses; |
| -- | the general effects of a weak economy, including the resulting decreases in volumes of waste generated; |
| -- | the effect the weather has on our quarter to quarter results, as well as the effect of extremely harsh weather on our operations; |
| -- | possible changes in our estimates of site remediation requirements, final capping, closure and post-closure obligations, compliance and regulatory developments; |
| -- | the possible impact of regulations on our business, including the cost to comply with regulatory requirements and the potential liabilities associated with disposal operations, as well as our ability to obtain and maintain permits needed to operate our facilities; |
| -- | the effect of limitations or bans on disposal or transportation of out-of-state waste or certain categories of waste; |
| -- | possible charges against earnings as a result of shut-down operations, uncompleted development or expansion projects or other events; |
| -- | the effects that trends toward requiring recycling, waste reduction at the source and prohibiting the disposal of certain types of wastes could have on volumes of waste going to landfills and waste-to-energy facilities; |
| -- | possible diversions of management's attention and increases in operating expenses due to efforts by labor unions to organize our employees; |
| -- | the outcome of litigation or threatened litigation; |
| -- | the need for additional capital if cash flows are less than we expect or capital expenditures are more than we expect, and the possibility that we cannot obtain additional capital on acceptable terms if needed; |
| -- | possible errors or problems upon implementation of new information technology systems; and |
| -- | possible fluctuations in quarterly results of operations or adverse impacts on our results of operations as a result of the adoption of new accounting standards or interpretations. |
Additional information regarding these and/or other factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in Part I, Item 1 of the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2003 and Part II of the Company's Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2004.
--30--JV/ho*
CONTACT: Waste Management Inc., Houston Analysts: Greg Nikkel, 713-265-1358 or Media: Heather Browne, 713-265-1514
KEYWORD: TEXAS INDUSTRY KEYWORD: ENVIRONMENT MANAGEMENT CHANGES SOURCE: Waste Management Inc.
Copyright Business Wire 2005
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