TBC Announces The Promotion of Erik Olsen to President of Carroll Tire
06 Settembre 2005 - 5:12PM
PR Newswire (US)
PALM BEACH GARDENS, Fla., Sept. 6 /PRNewswire-FirstCall/ -- TBC
Corporation (NASDAQ:TBCC), one of the nation's leading marketers of
automotive replacement tires, today announced the promotion of Erik
R. Olsen to President of the corporation's wholly-owned subsidiary
Carroll Tire. Mr. Olsen will also retain his role as Senior Vice
President and Chief Marketing Officer of TBC Corporation. In this
dual role, Mr. Olsen will continue to report to Larry Day, TBC's
President and Chief Executive Officer, on corporate marketing
initiatives. With regard to Carroll Tire initiatives, Mr. Olsen
will report to Ken Dick, President and Chief Executive Officer of
TBC's Wholesale Segment. Since joining TBC in December 2004, Mr.
Olsen has been responsible for, and will continue to manage, the
development of all of the company's proprietary brands, with focus
on the retail store brands including Big O, Tire Kingdom,
Merchant's and NTB. He will also continue working with TBC's
Marketing and Advertising groups. Mr. Olsen joined TBC from
Michelin North America where he served in a series of senior level
Marketing and Sales positions. Prior to joining Michelin in 1996,
he held marketing and sales positions with Ralston Foods, The
Clorox Company and Procter & Gamble. In addition to more than
eighteen years of experience, Mr. Olsen received a B.A. in 1985
from the University of North Carolina at Chapel Hill. "We are
delighted about Erik's significant progress since joining TBC,"
commented Larry Day. "This expanded responsibility is a natural
evolution in Erik's contribution to the corporation and his
background is ideally suited for this dual role. We are looking to
Erik to lead Carroll Tire's growth as the top, value-added
distributor to the independent tire dealer." About TBC: TBC
Corporation is one of the nation's largest marketers of automotive
replacement tires through a multi-channel strategy. The Company's
retail operations include company-operated retail centers under the
"Tire Kingdom", "Merchant's Tire & Auto Centers" and "National
Tire & Battery" brands and franchised retail tire stores under
the "Big O Tires" brand. TBC markets on a wholesale basis to
regional tire chains and distributors serving independent tire
dealers throughout the United States and in Canada and Mexico. The
Company's proprietary brands of tires have a longstanding
reputation for quality, safety and value. TBC Corporation Safe
Harbor Statement This document contains "forward-looking
statements," as that term is defined under the Private Securities
Litigation Reform Act of 1995, regarding expectations for future
financial performance, which involve uncertainty and risk. It is
possible that the Company's future financial performance may differ
from expectations due to a variety of factors including, but not
limited to: changes in economic and business conditions in the
world; increased competitive activity; consolidation within and
among competitors, suppliers and customers; unexpected changes in
the replacement tire market; the Company's inability to attract as
many new franchisees or open as many distribution outlets as stated
in its goals; changes in the Company's ability to identify and
acquire additional companies in the replacement tire industry and
successfully integrate acquisitions and achieve anticipated
synergies or savings; fluctuations in tire prices charged by
manufacturers, including fluctuations due to changes in raw
material and energy prices, changes in interest and foreign
exchange rates; the cyclical nature of the automotive industry and
the loss of a major customer or program. It is not possible to
foresee or identify all such factors. Any forward-looking
statements in this release are based on certain assumptions and
analyses made by the Company in light of its experience and
perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances. Prospective investors are cautioned that any
such statements are not a guarantee of future performance and
actual results or developments may differ materially from those
projected. The Company makes no commitment to update any
forward-looking statement included herein, or to disclose any
facts, events or circumstances that may affect the accuracy of any
forward-looking statement. Additional information on factors that
could potentially affect the Company or its financial results may
be found in the Company's filings with the Securities and Exchange
Commission. DATASOURCE: TBC Corporation CONTACT: Thomas W. Garvey,
Executive V.P. & Chief Financial Officer of TBC Corporation,
+1-561-227-0955; or Investors: Betsy Brod, or Jonathan Schaffer,
+1-212-750-5800, both of Brod & Schaffer, LLC Web site:
http://www.tbccorp.com/
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