American Home Shield 2004 Annual Report Download - page 6

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Values and Corporate Governance
Our values have been the foundation of every-
thing we do at ServiceMaster. We want to be
consistent with our heritage while making our
values more apparent in our day-to-day business.
As our proxy statement indicates, we are sug-
gesting the first change to our values in over 30
years, proposing to replace “Pursue Excellence”
with “Excel with Customers.” Let me direct you
to the essay section of this annual report, where four of our people do an excellent job of
expressing how their lives, their values and their work come together at ServiceMaster.
We are pleased that Institutional Shareholder Services, which monitors corporate governance,
reported that ServiceMaster in 2004 outperformed 98.1 percent of the companies on the
Russell 3000 and 98.9 percent of the companies in the Commercial Services and Supplies
Group in key compliance areas.
We are also pleased with the progress we have made in advancing the independence and
inclusiveness of our Board of Directors. Four of our 12 directors represent racial or gender
diversity. Every one of my fellow directors is independent.
We welcomed two new board members whose expertise in business leadership and people will
be valuable additions. They are Louis J. Giuliano, retired Chairman of ITT Industries, a
supplier of advanced technology products and services, and Coleman H. Peterson, former
Executive Vice President of People at Wal-Mart Stores Inc., where he was responsible for
recruitment, retention and development of Wal-Mart’s retail organization.
We shall miss the experience and wisdom of two directors who retired in 2004. Donald G.
Soderquist completed his second term as a director of our Company. His combined service
of eight years spanned two critical junctures of our corporate evolution. Herbert P. Hess,
who served on our board for 22 years, retired in anticipation of his marriage to Director Betty
Jane Scheihing. We wish Herb and B.J. many happy years together.
In summary, we head into 2005 energized and confident that our future is full of opportunity.
Jonathan P. Ward, Chairman & CEO (left), Ernest J. Mrozek, President & CFO
jonathan p. ward Chairman and Chief Executive Officer