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Strategies & Market Trends : WAST - why so low? -- Ignore unavailable to you. Want to Upgrade?

To: jmhollen who wrote (371)	12/14/1998 4:43:00 PM
From: Jim Parkinson	Read Replies (1) \| Respond to of 712

WasteMasters appoints Blaser chairman, CEO December 14, 1998 01:35 PM NEW YORK, Dec 14 (Reuters) - Nonhazardous waste disposal company WasteMasters Inc. WAST said Monday that R. Dale Sterritt, Jr. has resigned as chairman and chief executive, and the company has appointed A. Leon Blaser chairman and interim CEO. Sterritt "has recently been faced with outside concerns that have severely undermined his ability to run" the company, Chief Financial Officer Douglas Holsted said in a press release. President Michael Smith told Reuters that Sterritt has been involved with personal litigation that threatened to become an issue in WasteMasters' pending New York City trade waste application. He said the board has no definite plans to find a replacement CEO, but Blaser will likely remain in the position until at least the next shareholder meeting. "Today's announcement is the first sweeping change of many to occur over the next few weeks," Blaser said in the statement. He did not elaborate on the changes to come. Smith told Reuters that WasteMasters is in "heavy negotiations" to acquire 10 to 15 small, private garbage companies in the New York area. ((New York Newsdesk 212-859-1700)) REUTERS Sterrit out, Blazer in. Now let's see what happens. I hope something a hell of a lot more (on the upside of course) than what has happened the past few months!