Reynolds and Reynolds Elects Ira Hall as New Director
DAYTON, Ohio--Feb. 14, 2002--Dr. David E. Fry and Richard H. Grant, III, Re-Elected to Three-Year
Terms; David R. Holmes Recognized for "Determined Leadership"
At their annual meeting in Dayton today, shareholders of The Reynolds and Reynolds Company elected Ira D. Hall, 57, as a director of the company and re-elected directors Dr. David E. Fry, 58, and Richard H. Grant III, 62, to three-year terms.
The company also recognized the achievements of former Chairman David R. Holmes, who retired from the Reynolds board of directors following a 17-year career with Reynolds.
Hall is the former treasurer of Texaco, Inc., and head of the company's Finance Department. Previously, he was general manager of Alliance Management for Texaco. Until 1998, he was employed by IBM Corporation, where he served as director of International Operations, treasurer of IBM U.S. and controller of the IBM World Trade Corporation.
Hall also serves as a director for American Express Funds, the Jackie Robinson Foundation and the Dean's Advisory Council of the Stanford University Graduate School of Business. He holds a bachelor of science degree in electrical engineering and an MBA, both from Stanford.
"We are pleased to welcome Ira Hall to the Reynolds and Reynolds board of directors," said Lloyd "Buzz" Waterhouse, CEO, chairman and president. "His broad, global experience and financial acumen will be strong assets to our company."
In his remarks at the meeting, Waterhouse saluted "the insightful and determined leadership" of Holmes, who has served on the Reynolds board since 1987. Holmes retired as chairman January 1 and from his position as a Reynolds director effective today.
"Dave led Reynolds to new levels of business success," Waterhouse said. "As a division president, a CEO, a director and a community leader, he set a lasting example for leadership and innovation."
Holmes joined Reynolds in 1984. He served as president and CEO from 1989 until 1999, when Waterhouse joined the company as president.
Waterhouse also recognized the "unwavering dedication, deep commitment to customer satisfaction and utmost respect for people" of Richard H. Grant, Jr., who died in June 2001 at age 88. Grant served as president of the company from 1941 until 1957 and as chairman from 1957 until 1982. He remained a board member until two years ago, when he became director emeritus.
Waterhouse said that following the company's launch last month of the Reynolds Generations Series(TM) family of solutions, Reynolds "has the look of the leader" in the development of tools for the automotive retailing marketplace.
"There's no doubt that we're making history for the entire automotive retailing industry. We envisioned the future of automotive retailing before anyone else, and we're making it a reality," he said. "Dealers are excited about our first release of the Reynolds Generations Series. It meets a need they consider critical for success -- real time, data integration."
The Reynolds Generations Series encompasses more than 100 applications and services relating to all aspects of dealership operations, including Web services, contact management, sales management, finance and insurance, service and parts operations, and business and employee management. Its first release, available in April, incorporates advanced customer relationship management (CRM) solutions and reporting tools that provide new customer insights and information when and where automotive retailers and car companies need it.
Reynolds and Reynolds, headquartered in Dayton, Ohio, is the leading provider of integrated information management solutions to the automotive retailing marketplace. The company's services include a full range of retail and enterprise management systems, networking and support, e-business applications, Web services, learning and consulting services, customer relationship management solutions, document management and leasing services. To find out more about the company, its vision, products and services, visit www.reyrey.com.
Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations, estimates, forecasts and projections of future company or industry performance based on management's judgment, beliefs, current trends and market conditions. Forward-looking statements made or to be made by or on behalf of the company may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. See also the discussion of factors that may affect future results contained in the Reynolds and Reynolds Current Report on Form 8-K filed with the SEC on August 7, 2001, which is incorporated herein by reference. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.