TREVOSE, Pa., Oct. 17, 2016 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE: STON ) (“StoneMor” or the “Partnership”) today announced the hiring of Dina S. Kelly to the newly created position of National Vice-President of Sales, effective August 15, 2016. Kelly will oversee StoneMor’s approximately 525 sales personnel and will also support marketing efforts for its 317 cemeteries and 107 funeral homes. Her role will include setting strategic priorities for the sales team and supporting localized hiring and training. She will also be responsible for the previously disclosed sales team expansion, adding approximately 100 new team members over the next six to nine months. The expansion is part of a broader workforce realignment recently undertaken by the Company. The realignment saw the elimination of approximately 100 non-sales generating positions, representing total cost savings of approximately $6 million, across a variety of functions, largely comprised of duplicative roles that arose as the company has grown through the acquisitions of more than 285 cemeteries and funeral homes since becoming a public company in 2005.
Kelly commented, “I’m very happy to join StoneMor and become part of our young but experienced management team that will lead the company for the coming decades. I believe I bring many innovative thoughts and successes from my experience in similar industries over the past 15 years that will translate well to our business. I’m looking forward to spearheading positive change in our sales force that will allow us to exceed our goals over both the short-term and in the coming years.”
Kelly joins StoneMor from Senior Lifestyle Corporation, a Chicago-based company focused on senior care communities where, since 2014, she was Senior Vice-President, Sales and Marketing. While at Senior Lifestyle, Kelly was instrumental in the creation and implementation of several company initiatives designed to drive sales growth and occupancy goals. She provided direct leadership and ongoing development of 11 Regional Directors of Sales and Marketing, collaborated in the successful integration and acquisition of 54 communities and provided weekly/monthly sales and revenue forecasting and annual budget review.
Prior to Senior Lifestyle, from 2012 to 2014, Kelly was District Vice-President, Sales and Marketing, Acquisitions for Holiday Retirement Lake in Oswego, Oregon. At Holiday, Kelly supported company efforts to achieve occupancy and move-in goals through new sales and marketing programs. Among other roles, she coached and trained on essential conversion metrics and lead generation activities to enable sales teams to maximize potential and meet objectives. Prior to 2012, Kelly filled numerous sales and executive director positions at Brookdale Senior Living (formerly Horizon Bay), Sunrise Senior Living and Service Corporation International where she was Park Director and Pre-Need Funeral Sales Manager.
Larry Miller, President and Chief Executive Officer of StoneMor commented, “We are excited to have Dina join StoneMor. Dina brings an extensive career in sales and marketing with experience that includes not only leadership and oversight of sales teams, but the development of programs to increase revenue and enhance profitability. Her previous role at Service Corporation is an added benefit that gives her the unique experience of having worked in the deathcare industry at the field level. We look forward to her contributions to the team.”
About StoneMor Partners L.P.
StoneMor Partners L.P., headquartered in Trevose, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 317 cemeteries and 107 funeral homes in 29 states and Puerto Rico.
StoneMor is the only publicly traded death care company structured as a partnership. StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. For additional information about StoneMor Partners L.P., please visit StoneMor’s website, and the investors section, at http://www.stonemor.com .
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release, including, but not limited to, information regarding the status and progress of StoneMor’s operating activities, the plans and objectives of StoneMor’s management, assumptions regarding StoneMor’s future performance and plans, and any financial guidance provided or guidance related to StoneMor’s future distributions, as well as certain information in StoneMor’s other filings with the SEC and elsewhere, are forward-looking statements. Generally, the words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend (including, but not limited to StoneMor’s intent to maintain or increase its distributions),” “project,” “expect,” “predict” and similar expressions identify these forward-looking statements.
These forward-looking statements are based on management’s current expectations and estimates. These statements are neither promises nor guarantees and are made subject to risks and uncertainties that could cause actual results to differ materially from those stated or implied by the forward-looking statements, including, without limitation, risks relating to StoneMor’s ability to meet cost savings from the workforce realignment, uncertainties associated with the cash flow from pre-need and at-need sales, trusts and financings, which may impact StoneMor’s ability to meet its financial projections, its ability to service its debt and pay distributions, and its ability to increase its distributions.
StoneMor’s additional risks and uncertainties include, but are not limited to, the following: uncertainties associated with additional information that may arise from StoneMor’s continuing analysis and review of the historical allocation of net income (loss) to the general partner and limited partners and its prior financial statements, as well as the review and audit by StoneMor’s independent auditors of StoneMor’s prior financial statements, StoneMor’s ability to maintain an effective system of internal controls and disclosure controls, future revenue and revenue growth; uncertainties associated with the integration or anticipated benefits of recent acquisitions or any future acquisitions; StoneMor’s ability to complete and fund additional acquisitions; the effect of economic downturns; the impact of StoneMor’s significant leverage on its operating plans; the decline in the fair value of certain equity and debt securities held in StoneMor’s trusts; StoneMor’s ability to attract, train and retain an adequate number of sales people; uncertainties associated with the volume and timing of pre-need sales of cemetery services and products; increased use of cremation; changes in the death rate; changes in the political or regulatory environments, including potential changes in tax accounting and trusting policies; StoneMor’s ability to successfully implement a strategic plan relating to achieving operating improvements, strong cash flows and further deleveraging; StoneMor’s ability to successfully compete in the cemetery and funeral home industry; litigation or legal proceedings that could expose StoneMor to significant liabilities and damage StoneMor’s reputation; the effects of cyber security attacks due to StoneMor’s significant reliance on information technology; uncertainties relating to the financial condition of third-party insurance companies that fund StoneMor’s pre-need funeral contracts; and various other uncertainties associated with the death care industry and StoneMor’s operations in particular.
When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements set forth in StoneMor’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 29, 2016 and the other reports that StoneMor files with the Securities and Exchange Commission, from time to time. Except as required under applicable law, StoneMor assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements made by it, whether as a result of new information, future events or otherwise.
CONTACT: John McNamara Director - Investor Relations StoneMor Partners L.P. (215) 826-2945
