G. Donaghy has resigned as president and chief operating
officer of Industrial Services of America Inc. (ISA), according
to a June 17 Securities and Exchange Commission filing.
Donaghy, who exited
the Louisville, Ky.-based scrap metals recycler and processor
June 11, couldnt be reached for comment. No reason was
given for his departure.
ISA chairman Orson
Oliver will serve as president and chief executive officer on
an interim basis.
The chief executive
role still needs to be filled on a permanent basis following
the retirement of company founder Harry Kletter in early May
amm.com, May 9). The company had said it was
negotiating with Jonathan S. Blue on the terms and conditions
for him to take the helm (
amm.com, May 16). That followed an earlier
announcement that Blues private equity company would be
assuming a lead role in managing the company (
amm.com, April 1).
Donaghy will be paid
$12,500 per month to act as a consultant for between six and 12
months, and cannot accept employment from certain unnamed
competitors during the consulting period. He has been released
from a no-compete agreement on the condition that he not
recruit from ISAs work force for two years after formally
ending all ties with the company.
Donaghy had served as
president and chief operating officer since August 2007 after
selling his company, Louisville-based Industrial Logistics
Services LLC, to ISA for more than $1 million (
amm.com, Aug. 7, 2007). Industrial Logistics
specialized in scrap metal and waste transportation, generating
$2 million in annual revenue.