INTERNATIONAL BALER CORP appointed new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


At the Effective Time, Ronald L. McDaniel, D. Roger Griffin, Lael E. Boren, William E. Nielsen, John J. Martorana and Martha R. Songer ceased serving as members of the Company's board of directors. Also, at the Effective Time, Richard VanDeusen became a director of the Company, joining Gregory L. King on its board. In addition, at the Effective Time, D. Roger Griffin and William E. Nielsen ceased being the Company's President and Chief Executive Officer and the Company's Chief Financial Officer, respectively, with Gregory L. King succeeding Mr. Griffin as President of the Company and John G. Kuhnash succeeding Mr. Nielsen as Chief Financial Officer. The above departures were solely in connection with the Merger and not a result of any disagreement with the Company, its management or its board of directors.


Gregory L. King is President and Chief Executive Officer of Parent, a position he has held since October 2020. Prior to that, Mr. King was President and CEO of The Harris Waste Management Co. (a wholly-owned subsidiary of Parent) from April 2016 to December 2020. Mr. King became a member of the board of directors of the Company on September 4, 2021. He was also President of Merger Sub since its formation in March 2022.


John G. Kuhnash was appointed Vice President and Chief Financial Officer of Parent in October 2021. Previously, Mr. Kuhnash was Chief Financial Officer for Down-Lite International, Inc. from April 2018 to October 2021, and Chief Financial Officer for Thyssenkrupp Bilstein of America, Inc. from October 2015 to January 2018. He was also Treasurer of Merger Sub since its formation in March 2022.


Richard VanDeusen was a director of Merger Sub since its formation in March 2022. He is also President and General Manager of The Harris Waste Management Group, Inc., a position he has held since December 2020. Prior to that, Mr. VanDeusen was Vice President, Finance of Altisource from April 2019 until December 2020. From February 2016 until February 2019 he was Senior Vice President of Recycling at WestRock Company.


In connection with the above succession appointments of Messrs. King, Kunash and VanDeusen (each, an "Appointee"): (i) there are no arrangements or understandings between the Appointee and any other person; (ii) no material plan, contract or arrangement has been entered into with the Appointee, and no such plan, contract or arrangement with an Appointee has been materially amended; and (iii) no grant of any award to the Appointee or modification of an existing award has been made. Moreover, none of the Appointees has a family relationship with any director or other executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. Also, except for their roles as directors and/or executive officers of Parent or its other subsidiaries, none of the Appointees has a direct or indirect material interest in any transaction that would require reporting under Item 404(a) of Regulation S-K.