Industrial Services of America, Inc. Announces New Chief Financial Officer
LOUISVILLE, KY (January 6, 2015) -- Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, and offers waste management programs and equipment to commercial customers, today announced the appointment of Todd L. Phillips as its Chief Financial Officer. Mr. Phillips joins ISA from CRS Reprocessing, LLC, a leading provider of fluid reprocessing solutions for industrial applications, where he held the positions of Chief Operating Officer and Chief Financial Officer. CRS has operations in the United States, Europe and Asia and is backed by the private-equity firms, Argosy Capital and Capital Solutions, Inc. While at CRS, Mr. Phillips led multiple financings during a challenging period in the U.S. and international economies. He assisted in expanding CRS into new geographic markets, and managed internal functions including corporate finance, international and domestic tax, global treasury, accounting, information technology and human resources. Prior to CRS, Mr. Phillips was Chief Financial Officer at Genscape, Inc., a global information provider to energy commodity traders. Genscape was backed by private equity firm Oaktree Capital. Mr. Phillips was responsible for all global activities associated with accounting, finance, tax, shareholder relations and human resources. Genscape was honored twice during Mr. Phillips’s tenure as an Inc. 500 company, recognizing Genscape as one of the 500 fastest growing companies in the United States. Mr. Phillips has seventeen years of finance experience, including four years in public accounting. Mr. Phillips assisted his previous companies with significant expansion through acquisitions and growth into new markets. He also established and implemented internal and external financial reporting systems, improving his companies’ internal controls, closing and operational reporting processes. “Following an intense year of operational turnaround and scrutiny, ISA is shifting its focus to growth,” said Sean Garber, President of ISA. “We are excited to have Todd join us at the outset of our strategic expansion. Our strategy leverages many of the skills and experience Todd brings to ISA, including acquisitions and expansion into new markets. At the same time, we can benefit from Todd’s experience with financing, internal reporting and operational controls,” Mr. Garber continued. Mr. Phillips began his career at Arthur Andersen LLP following his graduation from the University of Kentucky. He is a Certified Public Accountant and holds degrees in accounting and business administration, with a focus on finance, from the University of Kentucky. ISA’s 2014 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html. About ISA Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, and offers waste management programs and equipment to commercial customers. More information about ISA is available at www.isa-inc.com. This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA’s results is detailed in ISA’s filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.