Lawrence C. Day to Serve as Chief Executive Officer
26 July 1999
Lawrence C. Day to Serve as Chief Executive Officer
MEMPHIS, Tenn.--July 26, 1999--The Board of Directors of TBC Corporation today announced that Lawrence C. Day, age 49, will assume the position of President and Chief Executive Officer effective October 1, 1999. Day, who is currently President and Chief Operating Officer, will assume the new responsibilities following the retirement of Louis S. DiPasqua, who will be 65 in September. DiPasqua's decision to retire as an officer and director was announced last week."Larry has clearly demonstrated the competence to handle these new responsibilities. He will bring an energetic leadership, and we are excited about the potential for TBC under his guidance," remarked Marvin E. Bruce, Chairman. "We were very pleased with Larry's decision to join TBC last year. In selecting him, we felt that his extensive experience in the tire business, coupled with his proven success in automotive service retailing, brought valuable talents to TBC. His contributions thus far have been recognized not only by the Board but also throughout our base of customers. The competitive landscape that characterizes the replacement tire market at present demands a clear vision and dedicated execution. We are confident that Larry has each of these attributes and look forward to working with him as Chief Executive Officer in realizing the opportunities that lie ahead for TBC."
Day joined TBC in April 1998 as Executive Vice President and Chief Operating Officer. He assumed the responsibilities as President and Chief Operating Officer and as a Director of TBC in October 1998. Day joined TBC from Monro Muffler Brake, Inc. where he had served as President and Chief Executive Officer since 1995. Prior to joining Monro, Day was Vice President of Montgomery Ward's Auto Express Division, a chain of over 300 automotive service stores. His experience in the tire industry also includes 13 years in a series of managerial positions with the Firestone Tire & Rubber Company.
TBC Corporation is one of the nation's largest marketers and distributors of private brand tires for the automotive replacement market.