Grease Monkey International, Inc., Announces Appointment of Chief Financial Officer
19 March 1998Grease Monkey International, Inc., Announces Appointment of Chief Financial Officer
DENVER, March 18 -- Grease Monkey International, Inc., the largest independent operator and franchisor of quick lube centers in the United States and in Mexico, today announced the appointment of Bruce D. Fraser to the new position of Senior Vice President and Chief Financial Officer. The company also announced that T. Timothy Kershisnik, its current treasurer, secretary and controller will be stepping down. Fraser will take on the role of CFO, a position that does not currently exist at Grease Monkey. "We are at a point in our development where we need a much more strategic approach to the financial side of our business, and having a CFO as accomplished and knowledgeable as Bruce will help us accomplish that," said Grease Monkey president and CEO Charles E. Steinbrueck. "We are pleased to have someone with Bruce's talents on board." Fraser most recently served as the CFO and vice president of finance for Unidata, Inc., a private software company based in Denver. At Unidata, he was responsible for restructuring the company's finance organization, refinancing its bank debt and financing a number of major acquisitions. Before coming to Unidata, Fraser worked for investment banks in New York and London. He has also previously served as a corporate treasurer of a large energy services company. Fraser holds an MBA from Northwestern University. Grease Monkey simultaneously announced that T. Timothy Kershisnik, who currently serves as the company's treasurer and controller will be stepping down to pursue other interests. Kershisnik has been with Grease Monkey since 1992. "I am grateful to Tim for his many years of service to the organization," said Steinbrueck. "We all wish him the best in his new endeavors." Grease Monkey is one of the nation's largest franchisors of fast lube and oil change centers. With 212 centers in 31 states and Mexico, 32 of which are company-owned, Grease Monkey is the largest quick lube organization not owned by a major oil company. In Colorado, Grease Monkey operates 19 company-owned centers located throughout the Denver Metro area and has 32 franchised centers. Grease Monkey International's parent company, Grease Monkey Holding Corporation is a publicly traded company. SOURCE Grease Monkey International, Inc.