Harry Kletter, Brian Donaghy and David Russell resign from scrap metal company’s board of directors.
Industrial Services of America Inc. (ISA), Louisville, Ky., has announced changes to its board of directors. Harry Kletter, Brian Donaghy and David Russell have tendered their resignations from ISA’s board, effective immediately.
While Donaghy is resigning from the board he will remain with the company as president and chief operating officer.
The board also announced it has appointed Jonathan Blue, chairman and CEO of Blue Equity LLC, to fill Kletter’s vacancy on the board. In addition, the board appointed Blue to replace Kletter as CEO of ISA. The resignations of the three board members plus the addition of Blue puts the number of board directors at five.
Kletter had earlier announced plans to retire as a board member and CEO at the company’s annual meeting later this year. However, both Kletter and the board acknowledged their satisfaction with the performance of Blue Equity since the management agreement that was announced on April 1, 2013. As a result, the two parties decided to speed up the transition.
Following the changes, ISA’s remaining directors are Orson Oliver, chairman, Jonathan Blue, Albert Cozzi, Alan Gildenberg and Francesca “Rudy” Scarito.