Coach USA, Inc. Names Larry King Chairman and Chief Executive Officer
4 November 1998
Coach USA, Inc. Names Larry King Chairman and Chief Executive OfficerHOUSTON--Nov. 3, 1998--
Dick Kristinik Announces His Retirement
Coach USA, Inc. , Coach USA, the largest provider of motorcoach tour, charter, commuter and transit services in the United States, today announced that Larry K. King, Senior Vice President and Chief Financial Officer, has been named Chairman and Chief Executive Officer. Mr. King, 41, will succeed Richard H. Kristinik, 59, who has informed the Board of Directors of his plans to retire effective December 31, 1998.
Mr. Kristinik was a Founder of Coach, having been the CEO and Chairman since March 1996. Under his leadership, Coach USA went public in May 1996 and built the company into America s largest motorcoach and passenger ground transportation provider with operations in 30 states and the Canadian provinces. During this period, Coach USA s run-rate revenues have grown from $100 million to almost $900 million. Mr. Kristinik will continue as a member of the Board of Directors of Coach USA.
Mr. Kristinik noted, "I am proud to say that Coach USA has more than achieved the strategic objectives that I and the other Founders originally envisioned. I am very fortunate to have worked with an excellent team at Coach and I am confident that our strong operating performance will continue under Larry s leadership."
Mr. King added, "We want to thank Dick Kristinik for his significant contributions over the developmental years at Coach. His guidance and team approach helped elevate Coach USA into its leadership position in the industry. We have a strong foundation to build upon and are well positioned for a solid long-term future."
Larry K. King, an original management Founder of Coach USA, had served as Chief Financial Officer and a Director since the Company was formed in 1995.
Coach USA is the largest provider of motorcoach services in the United States.
Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current plans and expectations of Coach USA, Inc., and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements.
Important factors that could cause actual results to differ include, among others, risks associated with acquisitions, fluctuations in operating results because of acquisitions and variations in stock prices, changes in government regulations, competition, risks of operations, and growth of the newly acquired businesses.