Laserfiche WebLink
ATT'ACfL1IENT "F° <br />KAISER VENTURES INC. <br />News Release <br />Contact: Pamela M. Catlett <br />(909) 483-8500 <br />FOR IMMEDIATE RELEASE <br />Corpornte Headgnarterr <br />3633 E. /eland Empire Bau(ern rd <br />Suite N50 <br />Ontrtrio, Crtlifornirt 91764 <br />909/4N3-N500 <br />909/944-6605 fa.< <br />KAISER VENTURES INC. REALIGNS MANAGEMENT; <br />BOARD VOTES TO REDUCE NUMBER OF DIRECTORS <br />Ontario, Calif. (January 17, 19%) -Kaiser Ventures Inc. (Nasdaq: KRSC) <br />announced today that the Company's Board of Directors has approved the <br />realignment of Company management and is taking steps to reduce the size <br />of the Company's Board in 1996 from 13 members to no more than nine. <br />According to Richard E. Stoddard, Kaiser's Chairman and acting Chief <br />Executive Officer, the management realignment allows the company to <br />effectively fulfill the responsibilities left vacant by the departure earlier this <br />month of Daniel N. Larson as President and CEO. Stoddard was appointed <br />Chief Executive Officer, in addition to his chairman duties. The Board also <br />appointed Gerald A. Fawcett, President and Chief Operating Officer; Terry L. <br />Cook, Senior Vice President, General Counsel and Secretary; Lee R. Redmond <br />III, Senior Vice President -Real Estate; James F. Verhey, Senior Vice President <br />Finance and Chief Financial Officer; and Pamela M. Catlett, Vice President, <br />Corporate Relations. <br />"This is a talented and dedicated team that has demonstrated its ability to <br />achieve major accomplishments for Kaiser;' Stoddard said. "With these <br />appointments, I am confident that we will continue to effectively pursue our <br />long-term corporate strategy:' <br />Stoddard, who led Kaiser Steel Corporation out of bankruptcy in 1988, has <br />served as Chairman of the Board since the reorganization and formerly as <br />Chief Executive Officer from 1988 to early 1994. A former attorney, prior to <br />joining Kaiser he specialized in reorganizing financially distressed <br />companies. <br />Fawcett has served in numerous management positions with Kaiser for over <br />40 years, including most recently as President of Kaiser Eagle Mountain, Inc. <br />and Executive Vice President of Kaiser Ventures. The other four officers have <br />served the Company in various capacities over the past four years. <br />(more) <br />