Carriage Services Appoints Carlos R. Quezada as Chief Executive Officer; Mel Payne Assumes Role of Executive Chairman of the Board of Directors

Announcement Highlights

• The Board has appointed Carlos R. Quezada as Chief Executive Officer;
• Mel Payne assumes the role of Executive Chairman of the Board of Directors;
• The Board has appointed Steven D. Metzger as President;
• The Board has appointed Chad Fargason to serve as an Independent Director and as Chair of the Corporate Governance Committee; and
• The Board intends to announce additional new directors who will add gender diversity and other forms of diversity to the Board of Directors during the third quarter of 2023.
  

HOUSTON, June 22, 2023 (GLOBE NEWSWIRE) -- The Board of Directors (the “Board”) of Carriage Services, Inc. (NYSE: CSV) (“Carriage” or the “Company”) announced today that Carlos R. Quezada has been appointed as Chief Executive Officer of Carriage, effective immediately. Mr. Quezada serves as Vice Chairman of the Board and most recently served as President and Chief Operating Officer. The Company’s founder and current CEO, Mel Payne, will now serve as Executive Chairman of the Board of Directors, also effective immediately.

Executive Leadership Announcements

Mel Payne, Executive Chairman of the Board, stated, “When I created the Company’s Strategic Vision and Principles Group in June 2021, a team consisting of four executive leaders including myself, we noted it was the first step in our CEO succession planning. The past two years have been a thoughtful, deliberate and intense period of learning, leading and preparation to ensure the seamless transition we announce today. I could not be more excited and confident in Carlos and his ability to thrive in the CEO role, as he has continued to take on additional responsibilities and lead transformational growth throughout the Company since he first joined Carriage in 2020. The Board has also recognized his talent and achievements, which culminated in appointing Carlos as President in 2022, and ultimately electing him to serve on the Board as Vice Chairman earlier this year. Carlos is a thoughtful and strategic leader who, I am confident, will lead Carriage to achieve our Bold Ten-Year Vision, as laid out in this year’s Shareholder Letter.”

Carlos Quezada, CEO and Vice Chairman of the Board, said, “I am honored and deeply humbled to assume the CEO role at Carriage. As I step into this position, I am acutely aware of the significance of the transition, as Mel has served as the sole CEO of the Company since its founding more than 32 years ago. I commit to our employees and shareholders that I will lead with the utmost dedication, integrity, and an unwavering commitment to our culture and Mission and Vision of Being the Best.”