CHANGES TO EXECUTIVE MANAGEMENT19-Apr-2012
HOUSTON, TX - (Marketwire) – April 11, 2012 - TEXCOM ANNOUNCES CHANGES TO EXECUTIVE MANAGEMENT AND BOARD OF DIRECTORS - TexCom, Inc. (OTC Pink: TEXC), an environmental services company for the oil and gas industry, today announced the retirement of Louis Ross, who has elected to resign as Chairman, President and Chief Executive Officer of the Company. The Board of Directors has appointed Stephen Barth, who has been an independent member of TexCom’s Board since March 2011, to serve as Chairman; and has named Robert S. May as the Company’s Interim CEO, who will oversee TexCom’s daily business operations and lead the search for Ross’ successor as CEO. Ross has agreed to remain as an independent consultant to the Company to assist in the recruitment of and transition to a new executive leadership team.
Commenting on his departure, Ross stated, “I feel fortunate to have had the opportunity to play an important role in guiding TexCom’s growth and progression over the past nine years.”
The Company’s newly appointed Chairman, Stephen Barth, added, “The Board is appreciative of the dedicated service and hands- on leadership that Lou has provided TexCom during his long tenure with the Company. We are very fortunate and pleased to have Bob May – a major shareholder and long-time supporter of TexCom – stepping in as Interim CEO while we endeavor to develop and implement a sound management succession and expansion plan in the months ahead.”
About Robert May
Robert May is an independent investor with active direct investments in oil and gas exploration and production, oil and gas waste disposal, commercial facilities services bandwidth management and real estate. He also serves as the manager of Foxborough Management Company, LLC, which has managed over $216 million of tax credit investment funds since 2007. In late 2006, May left the GHK Companies where he had served as the General Manager for 15 years and as the Chief Financial Officer for the four previous years. The GHK Companies are a group of Oklahoma-based companies that are engaged primarily in the exploration and production of oil and gas and private equity investments. Prior the GHK Companies, May served as President of Search Drilling Co., a Wichita, Kansas-based oil and gas producer, contract driller and sponsor of publically registered oil and gas partnerships. He began his professional career in 1975 as a Certified Public Accountant with Ernst & Ernst (now Ernst & Young).
May currently serves as the Chairman of the Board and President of Facilities Performance Group, LLC, an Atlanta, Georgia-based commercial facilities services company that counts Fedex, Tenaris Steel, Eastern Kentucky Power Cooperative, Nucor Steel, Southwest Tennessee Community College, and Kentucky Utilities among its clients. He also serves on the Board of Directors of Mesh Networks, LLC, a Houston, Texas-based provider of bandwidth management software for Internet Service Providers, as well as commercial and residential users. May also owns RSM Investments, LLC, which manages approximately 20 companies in which he owns an interest. These companies are primarily involved in oil and gas exploration and production and oil and gas waste disposal businesses. May is a graduate of Oklahoma Christian College, where he earned a Bachelor of Science degree in Accounting.
About TexCom, Inc.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry.
This press release and the presentation referenced above may contain forward-looking statements, including information about management's view of TexCom, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release or such presentation other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TexCom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on TexCom's future results. The forward-looking statements included in this press release and the presentation are made only as of the date hereof. TexCom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, TexCom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by TexCom.