On November 4, 2015, JCP Investment Management, LLC announced that it has issued a statement regarding 2015 annual meeting of Casella Waste Systems Inc. In the statement, JCP Investment Management stated that over the course of this year, it has fought relentlessly to bring attention to the (1) sustained underperformance, (2) poor capital allocation, and (3) extremely weak corporate governance at the Company. In addition, JCP Investment Management stated that as a result of its campaign and the strong support it has received from the shareholders, the Company has made the following positive changes after its public announcement on April 28, 2015: 1) on July 7, 2015, John Chapple stepped down as a director from the class of directors with terms ending at the annual meeting having been on the board since 1994; Jim O'Connor, a new independent director, joined the Board in the resulting vacancy, 2) on September 1, 2015, the Company has adopted a number of corporate governance changes, 3) in the month of September 2015, the Company has released earnings guidance for 2018 including: commitment to EBITDA guidance, commitment to a free cash flow guidance, and commitment to decrease leverage, 4) on October 19, 2015, Greg Peters stepped down as lead director and Jim O'Connor appointed as lead director. Furthermore, JCP Investment Management stated that one of the positive results of this process was that it caused the directors to hear firsthand the long-standing frustration of stockholders, and it expects that as a result they will objectively evaluate all strategies to unlock value at Casella.
Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company. The Company manages its solid waste operations on a geographic basis through three regional operating segments: the Eastern, Western and Mid-Atlantic regions. It manages its resource renewal operations through the Resource Solutions operating segment, which leverages its core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver a solution for its commercial, municipal, institutional and industrial customers. It operates approximately 64 solid waste collection operations, 71 transfer stations, 29 recycling and processing facilities, eight Subtitle D landfills, three landfill gas-to-energy facilities and one landfill permitted to accept construction and demolition materials. It provides integrated solid waste services in Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine, Pennsylvania, Delaware and Maryland.
CASELLA WASTE SYSTEMS, INC. 
