After the latest developments, I know longer doubt the restructuring of this company will be successful. I have now made my purchase and will sock it away for as long as it takes. See below this encouraging news.
Loewen Group appoints two new directors
Loewen Group Inc (The) LWN
Shares issued 74,147,821 Feb 8 close $0.80
Wed 9 Feb 2000 News Release
Mr. James Hoggan reports
The Loewen Group has appointed two new directors whose expertise reflects
the company's commitment to becoming a superior operating company and the
most service-oriented care provider in its industry.
Donna R. Moore has successfully held senior level executive positions in
quality companies recognized for delivering customer focused service. Ms.
Moore's senior management experience includes Marriott Hotels, senior
vice-president at the Walt Disney Company, senior vice-president at
Williams Sonoma, and president of Laura Ashley PLC. Ms. Moore also brings
to the Loewen Group board a background in reorganizing and training large
numbers of service-oriented retail employees.
John J. (Jack) Wiesner, a retail consultant with a strong financial
background in company restructuring, is a director of Stage Stores Inc.,
Lamonts Apparel Inc. and Elder Beerman Inc. Mr. Wiesner has held senior
level executive positions in large retail organizations with operations
throughout the United States.
Commenting on the appointments, Loewen Group chairman, John Lacey, said:
"Our two new directors reflect Loewen's commitment to becoming a superior
operating company and the most service-oriented care provider in our
industry. The careers of both Ms. Moore and Mr. Wiesner reflect a
remarkable combination of financial and consumer service experience derived
from a variety of different geographic markets in North America.
"Our board now numbers eight directors, which is small enough to permit the
board to work actively with senior management and our advisers over the
next important phase of Loewen's restructuring," Mr. Lacey said.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
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