Insurance Auto Auctions (NASDAQ:IAAI)
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Insurance Auto Auctions Announces Appointment of John R. Nordin as Chief
Information Officer
SCHAUMBURG, Ill., Nov. 11 /PRNewswire-FirstCall/ -- Insurance Auto Auctions,
Inc. , a leading provider of automotive salvage and claims processing services
in the United States, today announced the appointment of John R. Nordin as the
Company's new Chief Information Officer.
"We are excited to have someone with John's knowledge and expertise step into
the position of CIO and make an immediate and meaningful contribution to the
company," said Tom O'Brien, CEO of IAA. "Over the past couple years we have made
a strong commitment to improving our technological capabilities throughout the
organization, and this announcement reinforces that long-term commitment. John
has the broad skill set necessary to build off of our new, state-of-the-art IT
system to take the company to the next level of efficiency and profitability."
Nordin has more than 25 years of IT systems development and implementation
experience. He most recently served as Vice President and CIO of A.M. Castle &
Co -- a distributor of carbon alloy and stainless steels, aluminum, titanium,
cast iron and plastics. In that position he led the design, development and
implementation of a product allowing customers to check inventory levels, manage
orders and communicate with the company. Prior to that, Nordin served as Vice
President and CIO of Candle Corporation of America, where he was responsible for
all aspects of the company's information technology assets across ten domestic
and two international locations. Before Candle Corp., Nordin held senior-level
Information Systems positions with Safco Corporation and Caremark
International.
"With much of the new system implementation behind us, John's initial focus at
IAA will be on phase two of our IT system development plan as well as realigning
the organization. This phase of the plan will focus on additional operating
efficiencies, the evaluation of real-time bidding and a variety of other
services that our insurance company customers have requested. This next
generation of the system will leverage the infrastructure and technology
platform that have already been put in place, and John will be instrumental in
ensuring this phase of our technology initiative is completed in a timely and
effective manner," concluded O'Brien.
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total
loss and specialty salvage services in the United States, provides insurance
companies with cost-effective, turnkey solutions to process and sell total-loss
and recovered-theft vehicles. The Company currently has 74 sites across the
United States.
Safe Harbor Statement
Certain statements in this document contain forward-looking information that is
subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected, expressed, or implied by such
forward-looking information. In some cases, you can identify forward looking
statements by our use of words such as "may, will, should, anticipates,
believes, expects, plans, future, intends, could, estimate, predict, projects,
targeting, potential or contingent," the negative of these terms or other
similar expressions. The Company's actual results could differ materially from
those discussed or implied herein. Factors that could cause or contribute to
such differences include, but are not limited to, those discussed in the
Company's annual report on Form 10-K for the fiscal year ended December 29, 2002
or subsequent quarterly reports. Among these risks are: changes in the market
value of salvage; the quality and quantity of inventory available from
suppliers; the ability to pass through increased towing costs; that vehicle
processing time will improve; legislative or regulatory acts; competition; the
availability of suitable acquisition candidates and greenfield opportunities;
the ability to bring new facilities to expected earnings targets; the dependence
on key insurance company suppliers; the ability of the Company and its outside
consultants to successfully complete the re-design of the Company's information
systems, both in a timely manner and according to costs and operational
specifications; and the level of energy and labor costs.
Additional information about Insurance Auto Auctions, Inc. is available on the
World Wide Web at http://www.iaai.com/
DATASOURCE: Insurance Auto Auctions, Inc.
CONTACT: Scott Pettit, Chief Financial Officer of Insurance Auto
Auctions, +1-847-839-4040, or General Inquiries, Chris Kettmann of Ashton
Partners, +1-312-553-6716
Web site: http://www.iaai.com/