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APPLIANCE RECYCLING CENTERS OF AMERICA INC /MN FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) Appliance Recycling Centers of America, Inc. (the "Company") announced that Edward R. (Jack) Cameron retired from the positions of President and Chief Executive Officer of the Company on August 13, 2014. Mr. Cameron will remain with the Company and continue to serve as a director and Chairman of the Board. (c) On August 13, 2014, the Company promoted Mark Eisenschenk, age 55, to the positions of President and Chief Executive Officer. Mr. Eisenschenk served as Chief Operating Officer of the Company and President of its wholly-owned subsidiary, ARCA Recycling, Inc., since July 2013. As Chief Operating Officer, Mr. Eisenschenk has been responsible for setting strategic direction and driving performance in day-to-day operations of the Company and its subsidiaries. Prior to joining the Company in 2013, Mr. Eisenschenk, was employed by Vanguard Graphics International, LLC (Vanguard), from 2001 to March 2013. Vanguard is a holding company whose subsidiaries manufacture equipment, distribute consumables and develop and market specialty software for the graphics arts industry worldwide. He served as President of Vanguard and Chief Executive Officer of its subsidiary, Xitron, LLC, from 2007 to 2013, and as Chief Financial Officer and Chief Operating Officer of Printware, LLC., the predecessor to Vanguard, from 2001 to 2007. Mr. Eisenschenk is a CPA (inactive) and holds a B.S. in Accounting from St. Cloud State University. A description of Mr. Eisenschenk's compensation arrangements is set forth in the Company's Form 8-K, filed on July 26, 2013 (File No. 0-19621) and is incorporated herein by reference. There are no arrangements or understandings between Mr. Eisenschenk and any other person pursuant to which he was elected as an officer of the Company. There are no transactions in which Mr. Eisenschenk has an interest requiring disclosure under Item 404(a) of Regulation S-K. The press release issued by the Company announcing Mr. Cameron's retirement and Mr. Eisenschenk's promotion to President and Chief Executive Officer is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. 2 -------------------------------------------------------------------------------- ITEM 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Description of Document Number 99.1 Press Release issued by the Company dated August 14, 2014 |