HOUSTON, April 12, 2011 /PRNewswire/ -- Carriage Services, Inc. (NYSE: CSV) announced today the nomination of David J. DeCarlo to serve as an independent member of the Company's Board of Directors, subject to a shareholder vote at Carriage's annual meeting on May 17, 2011.
Mr. DeCarlo has more than 23 years of experience in the deathcare industry, having served as an executive officer in various roles for Matthews International, a leading worldwide supplier of deathcare products. Prior to retiring from Matthews as Vice Chairman in 2008, Mr. DeCarlo had previously served as President of the Bronze Division, Group President of the Memorialization Group and a member of the Board of Directors for twenty-two years. Prior to joining Matthews in 1985, Mr. DeCarlo held diverse management and executive roles in finance, manufacturing, operations, sales, marketing, and management information systems at several Fortune 500 companies.
Melvin C. Payne, Chairman and Chief Executive Officer, stated, "I am excited as well as honored at the prospect of Dave joining our Board. His extensive executive experience with Matthews put him on the front lines of consolidation in our industry. Given Carriage's history as a dominant funeral service company that diversified into the cemetery business in 1997 after going public, Dave will bring a deep knowledge and experience in cemetery operations, products, sales, memorialization and leadership, not only to our Board but also to our Executive Team and field operating leaders. He will also engage with our Strategic Development team to assist not only with acquisition strategy but also with the identification of and relationship building with larger, high quality independents, especially combination operations."
Mr. DeCarlo will join a group of experienced independent directors, including:
- Bill Heiligbrodt, who had a 13 year career at Service Corporation International, including 10 years as President and Chief Operating Officer;
- Richard Scott, who has extensive experience providing long term debt financing to the deathcare sector in his prior roles as Chief Investment Officer of American General Insurance and then as head of worldwide fixed income investments at AIG; and
- Vince Foster, who has served on our Board since 1999 and is a veteran in mergers and acquisitions.
Mr. Payne concluded, "With the addition of Dave to our Board, our five members will have extensive industry knowledge and experience related to acquisitions, operations, and financial strategy. This group of highly respected industry veterans will position Carriage to take maximum advantage of accelerating consolidation in the deathcare industry and to create substantial shareholder value over the next five years."
Carriage Services is a leading provider of deathcare services and merchandise in the United States. Carriage operates 150 funeral homes in 25 states and 33 cemeteries in 12 states.
Certain statements made herein or elsewhere by, or on behalf of, the Company that are not historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the Company believes are reasonable; however, many important factors, as discussed under "Forward-Looking Statements and Cautionary Statements" in the Company's Annual Report and Form 10-K for the year ended December 31, 2010, could cause the Company's results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of, the Company. The Company assumes no obligation to update or publicly release any revisions to forward-looking statements made herein or any other forward-looking statements made by, or on behalf of, the Company. A copy of the Company's Form 10-K, and other Carriage Services information and news releases, are available at www.carriageservices.com.
SOURCE Carriage Services, Inc.