DOWNERS GROVE, Ill., May 13, 2008 (PRIME NEWSWIRE) -- Aftermarket Technology Corp. (Nasdaq:ATAC) today announced the promotion of Todd R. Peters from Vice President and Chief Financial Officer to President and Chief Operating Officer.
During the last four years in his role as Vice President and Chief Financial Officer, Mr. Peters has worked closely with Don Johnson, Chairman and Chief Executive Officer, and the Board of Directors on the establishment and execution of the Company's strategic plans and objectives. His work with, and leadership provided to, the business units has been instrumental in driving overall Company performance. Bill Conley, President, ATC Logistics and Electronics and Rick Stanley, President, ATC Drivetrain will report to Mr. Peters in his new role.
"I am pleased to announce Todd's promotion to President and Chief Operating Officer," said Don Johnson. "For the past four years, he has done an excellent job working with me to develop the strategic direction and plans that have resulted in our phenomenal growth. Todd's promotion is the result of our management development and succession planning process where he has proven to be a strong leader and is clearly ready to assume the responsibilities for this key operations role within ATC. Todd's hands-on leadership of day-to-day operations will allow me to focus on further refinement and execution of our strategic plans and initiatives to continue the accelerated growth of our Logistics business and to further improve overall results for the Company. I am fully confident that he will augment our business unit management teams to continue our drive for operational excellence across the Company and to further our ability to deliver solid results for our customers and shareholders."
The Company also announced that John M. Pinkerton, who most recently served as Vice President and Controller, will act in the capacity of Chief Financial Officer. The Company will initiate a process to evaluate both internal and external candidates for the leadership positions in its financial organization.
Mr. Johnson will continue in his role as Chairman and Chief Executive Officer. Both Mr. Peters and Mr. Pinkerton will report to Mr. Johnson in their new roles.
ATC is headquartered in Downers Grove, Illinois. The Company provides outsourced engineered solutions and supply chain logistics services to the light and medium/heavy duty vehicle aftermarket and consumer electronics industries.
The preceding paragraphs contain statements that are not related to historical results and are ``forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that are predictive or express expectations that depend upon or refer to future events or conditions, or that concern future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, or possible future Company actions. Forward-looking statements involve risks and uncertainties because such statements are based on current expectations, projections and assumptions regarding future events that may not prove to be accurate. Actual results may differ materially from those projected or implied in the forward-looking statements. The factors that could cause actual results to differ are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and other filings made by the Company with the Securities and Exchange Commission.
CONTACT: Aftermarket Technology Corp. Mary Ryan 630-663-8283