Stericycle Nominates New Candidates for Election to Board of Directors

Nominees Include James J. Martell and James L. Welch

Company Announces Agreement with Saddle Point Management, L.P.

BANNOCKBURN, Ill., March 27, 2020 (GLOBE NEWSWIRE) -- Stericycle, Inc. (Nasdaq: SRCL) (“Stericycle” or the “Company”) today announced that its Board of Directors has agreed to nominate James J. Martell (“Jim”), former Chief Executive Officer of Express-1, the predecessor company to XPO Logistics, and James L. Welch, former Chief Executive Officer of YRC Worldwide, as director nominees to stand for election to the Board at the Company’s 2020 Annual Meeting of Stockholders.

The director nominations follow ongoing discussions with Saddle Point Management, L.P. (“Saddle Point”), a current investor in the Company. In connection with the Board’s agreement to nominate Mr. Martell and Mr. Welch, Stericycle and Saddle Point have entered into a settlement agreement, including customary standstill and related provisions.

“We are pleased to nominate Jim and James as part of our ongoing commitment to maintain a highly qualified, independent board with an impressive range of expertise to help guide Stericycle in our continued transformation,” said Robert Murley, Chairman of Stericycle. “Jim and James are seasoned executives who bring a deep level of experience in logistics and transportation, two areas that are key to our operations and the successful execution of the key business priorities that will drive improved performance and enhanced shareholder value at Stericycle. We look forward to benefiting from their fresh perspectives and relevant expertise as part of the Stericycle Board.”

Mr. Martell brings over 40 years of invaluable logistics expertise, including implementing disruptive transportation technology, as well as significant leadership experience as both an executive and board member. Mr. Welch has deep experience in both logistics and transportation, having served in a series of executive positions at YRC Worldwide throughout more than 40 years with the company, in addition to extensive experience as a director on public company boards. The nominees provide important and valued perspectives to the Board, as Stericycle continues to focus on driving operational cost efficiencies and improved performance.