Appliance Recycling Centers of America announced that Edward R. (Jack) Cameron had retired from the company’s board of directors and from the positions of chairman, president and CEO effective February 22. It announced on Feb. 26 that the board appointed Tony Isaac, a director of the company, to serve as interim CEO.
Cameron will remain with the company and continue to serve as the president of the company’s recycling segment.
This is the second time Cameron, the company’s founder, has retired as the firm’s CEO in the past three years. Cameron first retired as president and CEO in August of 2014. He was replaced by Mark Eisenschenk.
But in May 2015 Cameron returned to the firm after a shareholders elected four new members to the company’s five-member board of directors. Isaac’s firm, Isaac Capital Group, is the largest shareholder in Appliance Recycling. It put forward the slate of new directors, which included Isaac.
ARCI’s stock price has languished over the past year and has traded below $1 per share in recent months.
Isaac has served as financial planning and strategist/economist of Live Ventures, Inc., a company providing specialized online marketing solutions to small-to-medium sized local business that boost customer awareness and merchant visibility, since July 2012. He is also the chairman and co-founder of Isaac Organization, a privately held investment company.
Cameron founded the company in 1976 and served as president, CEO and chairman of the board until announcing his first retirement. He remained with the company as chairman of its board of directors.
Cameron’s retirement is the second executive level change for the company in 2016. In January, the firm appointed Rachel L. Holmes to the position of executive vice president of the company’s subsidiary, ARCA Recycling Inc.
Holmes served as vice president of business development for ARCA. from April 2008 until July 2015, when she transitioned to the role of vice president of client services. She has been with the company since 1991.