EXHIBIT 99.1
SECTION: FINANCIAL NEWS
DISTRIBUTION: TO BUSINESS EDITOR
LENGTH: 220 WORDS
HEADLINE: CAPITAL ENVIRONMENTAL EXECUTIVE CHANGES
DATELINE: BURLINGTON, ONTARIO, AUG. 2
BODY:
Capital Environmental Resource Inc. (Nasdaq: CERI) today announced that
Tony Busseri, Chairman and Chief Executive Officer, is no longer employed by the
Company. Bruce Cummings, presently a member of the Company's Board of Directors,
will assume the position of Chairman.
The Board of Directors has established an Executive Committee to
oversee the ongoing operations of the Company and to develop ongoing operational
policies and procedures for the Company and to otherwise carry out the duties of
the CEO on an interim basis. David Lowenstein, David Langille and Bruce McMaken
have been appointed members of the Executive Committee. David Lowenstein,
presently a member of the Company's Board, will serve as Chairman of the
Executive Committee.
The Company also notes that it has offered to renew the employment
contract of Al Loopstra, its Chief Operating Officer, which terminated
automatically as a result of the departure of Mr. Busseri. In addition, Mr.
Loopstra has been offered a position on the Executive Committee. The Company
expects to complete its negotiations with Mr. Loopstra shortly.
SOURCE: Capital Environmental Resource Inc.
CONTRACT: David Langille, EVP and CFO of Capital Environmental Resource,
905-319-6047
URL: http://www.prnewswire.com
LANGUAGE: English
LOAD-DATE: August 3, 2000
