Chairman of the Board and most recently served as
President and Chief Operating Offi cer. The Company’s founder and current CEO, Mel Payne,
will now serve as Executive Chairman of the Board of Directors, also eff ective 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 fi rst 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 confi dent 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 fi rst 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 confi dent, 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
signifi cance 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.”
The Board also announced that Steve Metzger, previously
Executive Vice President, Chief Administrative Offi cer and
General Counsel, has been appointed to serve as President,
eff ective immediately. Mr. Payne stated, “Steve joined Carriage in
2018 and is a gifted leader who has driven signifi cant growth and
improvement in a variety of areas over the years. In addition to
leading our Legal, HR and Risk Management Teams, Steve also
leads our Corporate Development eff orts, which has resulted
in the addition of several premier businesses to the Carriage
portfolio. Steve is involved with just about every aspect of the
Company and brings great experience and judgment to his role
as President.”
Mr. Payne added, “As those of you who have followed Carriage for any amount of time
know, this Company is my passion. I could not be prouder of our people, the noble nature
of what we do, and the way we take care of our families. I will continue to lead our Board as
Executive Chairman and provide guidance and mentorship to Carlos, Steve and our CFO, Kian
Granmayeh, as they work together to execute our Bold Ten-Year Vision and continue generating
value for our shareholders. As we often say at Carriage, “The Best is Yet to Come!”
Board Refreshment and Governance Updates
On June 21, 2023, the Board appointed Chad Fargason to serve as a Director and as Chair
of the Corporate Governance Committee of the Board. Currently Senior Portfolio Manager for
Vaughan Nelson Investment Management, an investment manager with approximately $15
billion under management, Mr. Fargason brings to the Board deep capital allocation expertise
and a track record of building businesses through strategic growth initiatives. Mr. Fargason
has been with Vaughan Nelson for more than ten years. Prior to that, he spent ten years with
the global investment fi rm KKR & Co. Inc. Mr. Fargason holds a B.A. in Mathematics from Rice
University and both a Masters and Ph.D. in Mathematics from Duke University.
Donald D. Patteson, Jr., Lead Independent Director, stated, “Chad’s proven track record over his
20-year career with both KKR and Vaughan Nelson provide Carriage and its shareholders with
a unique combination of valuable skills and insight, specifi cally as it relates to capital allocation,
strategic growth, and investor assessment and valuation. We are fortunate to have someone of
Chad’s caliber join our Board and we look forward to his contributions.”
Mr. Quezada added, “We are excited to welcome Chad to the Board as we continue to focus our
eff orts on building a best-in-class Board of Directors. Chad’s experience adds skills to our Board
that will be invaluable as we continue to execute our plans to pay down our debt and drive our
growth strategy. Mr. Fargason stated, “I am honored to be invited to join the Carriage Board and
look forward to supporting a company with such a rich history, unique culture, and that is poised
for sustainable growth.”
Mr. Fargason’s appointment follows the resignation of the Company’s prior Corporate
Governance Committee Chair, Dr. Achille Messac, as a Director of the Company.
Mr. Quezada concluded, “We continue to listen to shareholders’ feedback and evaluate
opportunities to enhance governance. To that end, as mentioned in the Company’s Annual
Shareholder Letter and in its fi rst quarter earnings call, the Board is committed to adding gender
diversity to the Board this year and has partnered with a nationally recognized fi rm to guide the
search process. The Board is actively meeting with prospective director candidates that meet
these criteria and intends to share more news on this priority during the third quarter.”
In addition, in connection with the Company’s focus on governance and responsiveness to
shareholder feedback, Carriage has amended its bylaws to provide for mandatory resignations
for any director who fails to receive majority support from shareholders in an uncontested
election.