Allied Automotive Group Announces Resignation Of President
29 March 2000
Allied Automotive Group Announces Resignation Of President
DECATUR, Ga., March 29 Allied Holdings, Inc.
parent company of the world's largest automotive distribution and logistics
network, announced that Hugh E. Sawyer, President of its Allied Automotive
Group, Inc. unit, resigned effective April 14, 2000, to become President and
Chief Executive Officer of Aegis Communications Group, Inc.
A. Mitchell Poole, Jr., Vice Chairman and Chief Executive Officer of
Allied Holdings, said, "We regret learning that Hugh has chosen to pursue
another business opportunity. Hugh has told us he has been given a
substantial opportunity with Aegis which he felt he could not turn down. We
have the best people in our industry, and are committed to our strategy of
being the leading supplier of automotive distribution services and logistics
services in North America and the world. We will continue to pursue this
strategy through our outstanding management team while we begin the search for
a successor as President of AAG."
Allied Holdings is the parent of several subsidiaries that comprise the
world's largest automotive distribution and logistics network. Allied
Automotive Group Inc. (AAG) is the largest motor carrier in North America
specializing in the delivery of automobiles and light trucks. AAG transports
for all major domestic and foreign manufacturers primarily from manufacturing
plants, rail ramps, ports and auctions to automobile dealers throughout the
United States and Canada. In 1998, AAG delivered 11.7 million vehicles. Axis
Group Inc. provides distribution and logistics services to automobile
manufacturers in the United States and overseas. Axis employs innovative
distribution methods to help its customers solve complex transportation,
inventory and logistics problems.
Statements in this press release that are not strictly historical are
"forward-looking" statements. Investors are cautioned that such statements
are subject to certain risks and uncertainties that could cause actual results
to differ materially. With limitation, these risks and uncertainties include
economic recessions or downturns in new vehicle production or sales, the
highly competitive nature of the automotive distribution industry, dependence
on the automotive industry, labor disputes involving the company or its
significant customers, the dependence on key personnel who have been hired or
retained by the company, the availability of strategic acquisitions or joint-
venture partners, changes in regulatory requirements which are applicable to
the company's business, risks associated with conducting business in foreign
countries, changes in vehicle sizes and weights which may impact vehicle
deliveries per load, the ability to increase rates charged to customers, and
problems related to information technology systems and computations that must
be made by the company or its customers and vendors in 1999, 2000 or beyond.
Investors are urged to carefully review and consider various disclosures made
by the company in this press release and the Company's reports filed with the
Securities and Exchange Commission.