Advertisement
YOU ARE HERE: LAT HomeCollections

Security Environmental Ousts Alfred Grossman as Chairman

October 11, 1994|HOPE HAMASHIGE | SPECIAL TO THE TIMES

HUNTINGTON BEACH — Security Environmental Systems Inc. said Monday it has removed Alfred Grossman, one of the company's co-founders, from his position as chairman.

The announcement came just weeks after the resignations of Grossman's two sons, Stephen and Jonathan. The three ran the Huntington Beach hazardous waste disposal company, founded in 1972, until March, when they handed over its operation to Ellen Batzel, formerly the company's vice president for legal affairs.

The company's board of directors said Monday it has added interim chairman to Batzel's titles.

A spokesman for Security Environmental Systems said Batzel has been overhauling the company and that part of that effort has been a management make-over.

The company has brought in a new chief financial officer, Feleke Teka, and a new chief operating officer, John Wheeler.

On Sept. 13, Stephen Grossman, 43, resigned as president of the company but said he would stay on as a consultant for Security Environmental's biomedical waste program.

Two days later, Jonathan Grossman, 39, resigned from the board of directors. The company has not given a reason for his resignation and has not said what his plans are.

When Stephen Grossman's resignation was announced, the company also said it had renegotiated the terms of both Jonathan and Alfred Grossman's employment. Alfred Grossman's annual salary was reduced from $125,000 to $60,000. Jonathan Grossman accepted a 28% annual pay cut to $90,000.

In Monday's Nasdaq trading, Security Environmental's stock closed at $2.25 a share, up 25 cents.

Advertisement
Los Angeles Times Articles
|
|
|