The ServiceMaster Company (NYSE:SVM) announced today
that J. Patrick Spainhour has been appointed to serve as Chairman and
Chief Executive Officer. Mr. Spainhour, 56, a current member of the
Board, had accepted the CEO position on an interim basis on May 15.
Mr. Spainhour is former Chairman and Chief Executive Officer of the
Ann Taylor Stores Corporation.
"As a Board member, my familiarity with the Company has been a tremendous advantage, enabling me to quickly engage with the leadership team on our operations and opportunities," said Mr. Spainhour. "The more I work with our teams, the more excited I am about our prospects and more passionate I am about their accomplishments."
"Our experience tells us making continuous improvements in the delivery of our service can drive significant sales growth and consumer loyalty. This will be a key strategy as the Company moves forward," continued Mr. Spainhour. "We also will continue to improve and re-engineer our processes so that we can realize the benefits of improved efficiency and effectiveness across the enterprise."
"All of what we do will be accomplished through the great individuals and teams within the Company. Our long-standing commitment to values and integrity gives us strength and keeps us on course in our everyday actions" concluded Spainhour. "I am looking forward to the opportunity to serve our customers, shareholders and employees."
"We are fortunate that such an experienced and qualified candidate was already part of our Board. His background in retailing, which is all about building great relationships with customers, is a perfect fit as we strive to strengthen the bond with each of our customers," said Mr. Sidney Harris, Presiding Director of the Board. "We also recognize that Pat knows how to lead strong teams. In his first few weeks he has already established very good working relationships with the senior management of the company."
Company Overview
ServiceMaster currently serves residential and commercial customers through a network of over 5,500 company-owned locations and franchised licenses. The Company's brands include TruGreen ChemLawn, TruGreen LandCare, Terminix, American Home Shield, InStar Services Group, ServiceMaster Clean, Merry Maids, Furniture Medic, AmeriSpec, ARS Service Express, Rescue Rooter, and American Mechanical Services. The core services of the Company include lawn care and landscape maintenance, termite and pest control, home warranties, disaster response and reconstruction, cleaning and disaster restoration, house cleaning, furniture repair, home inspection, and plumbing, heating and air conditioning.
Business Segments
The Company is comprised of five business segments: The TruGreen ChemLawn segment provides lawn, tree and shrub care services. The TruGreen LandCare segment provides commercial landscaping services. The Terminix segment includes termite and pest control services. The American Home Shield segment offers warranty contracts on home systems and appliances and home inspection services through AmeriSpec. The Other Operations and Headquarters segment includes the Company's franchised operations, (including ServiceMaster Clean, Merry Maids, Furniture Medic), its Company-owned operations, including InStar, a commercial disaster response and reconstruction business), the Company's international operations and its headquarter locations.
Forward-Looking Statements
This press release contains statements concerning future results and other matters that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that these forward-looking statements, which look forward in time and include everything other than historical information, be subject to the safe harbors created by such legislation. The Company notes that these forward-looking statements involve risks and uncertainties that could affect its results of operations, financial condition or cash flows. Factors that could cause actual results to differ materially from those expressed or implied in a forward-looking statement include the following (among others): the successful transition of a new Chairman and CEO, weather conditions that affect the demand for the Company's services; changes in the source and intensity of competition in the markets served by the Company; labor shortages or increases in wage rates; unexpected increases in operating costs, such as higher insurance premiums, self insurance and healthcare claim costs; higher fuel prices; changes in the types or mix of the Company's service offerings or products; increased governmental regulation including telemarketing and environmental restrictions; general economic conditions in the United States, especially as they may affect home sales or consumer spending levels; time, expenses and cash flows associated with integrating, selling, or winding down businesses; and other factors described from time to time in documents filed by the Company with the Securities and Exchange Commission.
"As a Board member, my familiarity with the Company has been a tremendous advantage, enabling me to quickly engage with the leadership team on our operations and opportunities," said Mr. Spainhour. "The more I work with our teams, the more excited I am about our prospects and more passionate I am about their accomplishments."
"Our experience tells us making continuous improvements in the delivery of our service can drive significant sales growth and consumer loyalty. This will be a key strategy as the Company moves forward," continued Mr. Spainhour. "We also will continue to improve and re-engineer our processes so that we can realize the benefits of improved efficiency and effectiveness across the enterprise."
"All of what we do will be accomplished through the great individuals and teams within the Company. Our long-standing commitment to values and integrity gives us strength and keeps us on course in our everyday actions" concluded Spainhour. "I am looking forward to the opportunity to serve our customers, shareholders and employees."
"We are fortunate that such an experienced and qualified candidate was already part of our Board. His background in retailing, which is all about building great relationships with customers, is a perfect fit as we strive to strengthen the bond with each of our customers," said Mr. Sidney Harris, Presiding Director of the Board. "We also recognize that Pat knows how to lead strong teams. In his first few weeks he has already established very good working relationships with the senior management of the company."
Company Overview
ServiceMaster currently serves residential and commercial customers through a network of over 5,500 company-owned locations and franchised licenses. The Company's brands include TruGreen ChemLawn, TruGreen LandCare, Terminix, American Home Shield, InStar Services Group, ServiceMaster Clean, Merry Maids, Furniture Medic, AmeriSpec, ARS Service Express, Rescue Rooter, and American Mechanical Services. The core services of the Company include lawn care and landscape maintenance, termite and pest control, home warranties, disaster response and reconstruction, cleaning and disaster restoration, house cleaning, furniture repair, home inspection, and plumbing, heating and air conditioning.
Business Segments
The Company is comprised of five business segments: The TruGreen ChemLawn segment provides lawn, tree and shrub care services. The TruGreen LandCare segment provides commercial landscaping services. The Terminix segment includes termite and pest control services. The American Home Shield segment offers warranty contracts on home systems and appliances and home inspection services through AmeriSpec. The Other Operations and Headquarters segment includes the Company's franchised operations, (including ServiceMaster Clean, Merry Maids, Furniture Medic), its Company-owned operations, including InStar, a commercial disaster response and reconstruction business), the Company's international operations and its headquarter locations.
Forward-Looking Statements
This press release contains statements concerning future results and other matters that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that these forward-looking statements, which look forward in time and include everything other than historical information, be subject to the safe harbors created by such legislation. The Company notes that these forward-looking statements involve risks and uncertainties that could affect its results of operations, financial condition or cash flows. Factors that could cause actual results to differ materially from those expressed or implied in a forward-looking statement include the following (among others): the successful transition of a new Chairman and CEO, weather conditions that affect the demand for the Company's services; changes in the source and intensity of competition in the markets served by the Company; labor shortages or increases in wage rates; unexpected increases in operating costs, such as higher insurance premiums, self insurance and healthcare claim costs; higher fuel prices; changes in the types or mix of the Company's service offerings or products; increased governmental regulation including telemarketing and environmental restrictions; general economic conditions in the United States, especially as they may affect home sales or consumer spending levels; time, expenses and cash flows associated with integrating, selling, or winding down businesses; and other factors described from time to time in documents filed by the Company with the Securities and Exchange Commission.