|Service Corporation International Hires Chief Financial Officer|
HOUSTON, Dec. 22 /PRNewswire/ -- Service Corporation International (NYSE: SRV), the world's largest funeral and cemetery company, announced today that Jeffrey E. Curtiss has been elected Senior Vice President and Chief Financial Officer effective January 3, 2000.
Mr. Curtiss was formerly Senior Vice President and Chief Financial Officer of Browning-Ferris Industries, Inc., ("BFI") the second largest waste services company, until it was sold in July, 1999. Mr. Curtiss is an attorney and a CPA and holds an advanced law degree in taxation. He has 28 years of financial experience and has been the Chief Financial Officer of substantial publicly held companies since 1988. His experience includes international tax and finance as well as corporate development and capital markets transactions.
Mr. R. L. Waltrip, Chairman and Chief Executive Officer commented on the election of Mr. Curtiss by stating "Jeff Curtiss brings to Service Corporation International proven experience in financial affairs in an industry that has experienced similar trends as those currently being experienced in the funeral and cemetery industry. At BFI, Mr. Curtiss was an advocate of financial goals focused on increasing cash returns on assets and growing BFI in a manner that took into account its cost of capital. He spearheaded efforts to reduce overhead costs and maintain a prudent capital structure, and meaningfully participated in selling underperforming assets and implementing new business information systems. These experiences will assist Service Corporation International to more effectively and efficiently manage similar issues."
As of September 30, 1999, SCI affiliates operated 3,823 funeral service locations, 524 cemeteries and 198 crematoria. SCI provides funeral and cemetery services in 20 countries on five continents.
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