John Moynahan Named CFO of Precision Auto Care
14 July 1998
John Moynahan Named CFO of Precision Auto CareLEESBURG, Va., July 14 -- Precision Auto Care, Inc. , North America's largest franchisor of auto care centers, today announced that John F. Moynahan has been named senior vice president and chief financial officer. Jay Ripley, President and CEO of Precision Auto Care, Inc. said, "John brings to Precision the experience and keen insight gained during his nearly two decades as a financial executive with Fortune 500, start-up and growth companies. His extensive experience in financial issues -- including debt and equity financing, acquisitions, costing and control systems, international operations, SEC reporting, and investor relations -- will enhance Precision Auto Care's growth and development as a newly public company." Moynahan received a B.A. in economics from Colgate University in Hamilton, N.Y., an MBA in accounting and finance from New York University and a CPA from the state of New York. He started his career in 1979 as a staff auditor with Ernst & Young, New York City, and has served as treasurer of the $1 billion Nasdaq-traded Fisher Scientific Group, Inc., La Jolla, Calif., and later served as vice president and CFO of Sym-Tek Systems, Inc., San Diego, a Nasdaq-traded global manufacturer of high-technology equipment, and vice president and treasurer of Joy Technologies, Inc., Pittsburgh, Pa., a NYSE-listed equipment manufacturer. Prior to joining Precision Auto Care, Inc., Mr. Moynahan was the senior vice president and CFO of Xybernaut Corporation, Fairfax, Va., a Nasdaq-traded global manufacturer of high- technology products, where he was instrumental in a successful initial public offering, private placements, and the establishment of operations in Europe and Japan. Precision Auto Care, Inc. is the world's largest franchisor of auto care centers, with 647 operating centers as of June 25, 1998. The Company franchises and operates Precision Tune Auto Care, Precision Auto Wash, and Precision Lube Express centers around the world. This press release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the result, performance, or other expectations implied by these forward-looking statements. For further information about the Company, investors are encouraged to review the Company's most recent SEC filings.