Boston, MA 06/18/2014 (wallstreetpr) – Industrial Services of America, Inc. (NASDAQ:IDSA), dealing in scrap metal and recycling in a decision has announced an increase in the number of board of directors have been raised from five to seven.
The board has appointed three news directors William B. Yarmuth, Vincent J. Tyra, and Sean Garber. The appointment is effective from June 15, 2014.
Along with the addition of two new members, a third member will also be appointed to fill the vacant position of Alan Gildenberg, who has resigned from the Board of Directors.
The three are skilled and experienced leaders. The company expects increase revenue with the change under their guidance.
The Algar Agreement
Industrial Services of America, Inc. (NASDAQ:IDSA) is in agreement with and Algar, Inc. According to the Algar agreement, Algar provides day-to-day senior executive level operating management supervisory services to the company. Also, Algar had the right to nominate two new directors any time under the signed agreement.
Mr. Yarmuth and Mr. Tyra were the two nominees for appointment to the Board of Directors. The Board itself nominated Mr. Garber as the company’s director.
Mr. Sean Garber.
Mr. Garber is the President of Algar Inc. Mr. Garber is compensated in accordance with the Algar Agreement. Prior to joining Algar, He owned Riverside Mortgage, Inc. and CMJ Ventures, LLC.
William B. Yarmuth
Mr. Yarmuth is currently serving as the Chairman and Chief executive officer of Almost Family, Inc. He is a member of the board of directors of Almost Family since 1991.
He will be compensated in accordance with the non-employee director compensation schedule.
Vincent J. Tyra
Mr. Tyra is currently serving as the President of ISCO Industries. He has also served as the Managing Partner at Southfield Capital. He is still the Operating Partner with Southfield Capital. He has also held the position of CEO of Broder Bros. Co., President of Retail and Activewear at Fruit of the Loom, principal investor and Executive Vice President of TSM.
He will be compensated in accordance with the non-employee director compensation schedule.
