Past CFO of Applied Materials, Gerald F. Taylor, Joins Lithia Board
4 May 2000
Past CFO of Applied Materials Inc., Gerald F. Taylor, Joins the Board of Lithia Motors Inc. LITHIA AUTOMOTIVE GROUP LOGO Lithia Automotive Group logo. Contact: Betty Whitney, 541-776-6591. (PRNewsFoto)[DM] MEDFORD, OR USA 09/09/1999
MEDFORD, Ore., May 4 Lithia Motors, Inc. (NYSE: LAD) today
announced the appointment of Gerald F. Taylor to its Board of Directors. Mr.
Taylor became a Director of the Company in April 2000. Mr. Taylor has had an
extensive career with Applied Materials Inc., a manufacturer of semi-conductor
equipment, serving for the past two years as Senior Advisor to the CEO and
from 1984 to 1998 as Senior Vice President and CFO. Additionally, he is a
member of the Board of Directors of Electro Scientific Industries, Inc.
(NYSE: ESIO), Webtrax, Inc. (a private company) and MicroBar, Inc. (a private
company). Mr. Taylor's experience also includes more than 30 years in a broad
range of international and domestic controllership positions at Schlumberger,
Fairchild Camera, Instrument Corporation, and Honeywell. Mr. Taylor received
his undergraduate degree from the University of Nebraska and a Masters of
Business Administration (MBA) from the University of Southern California.
Chairman and Chief Executive Officer, Sidney B. DeBoer, stated, "We are
very pleased to have Mr. Taylor join our Board of Directors. In addition to
his work with the Board of Directors, Jerry will serve on both our
Compensation and Audit Committees. His financial background and experience
with Applied Materials and other rapidly growing companies will be invaluable
to our company, and we look forward to his input and counsel."
On May 1, Lithia completed the acquisition of Shumate Honda, a small
fill-in acquisition in Kennewick, Washington. In addition to Lithia Dodge of
Tri-Cities, Lithia now has two stores in this attractive market. Lithia
operates 102 franchises in California, Oregon, Washington, Nevada, Colorado
and Idaho. Lithia sells 25 brands of new vehicles at 46 stores and over the
Internet through "Lithia.com - America's Car & Truck Store." Lithia also
sells used vehicles; arranges finance, warranty, and credit insurance
contracts; and provides vehicle parts, maintenance, and repair services at all
of its locations. Lithia retailed 52,485 new and used vehicles in 1999.
Lithia's current annualized revenue run rate, including all completed
acquisitions, is over $1.5 billion.
This press release includes forward looking statements, which management
believes are a benefit to shareholders. These statements are necessarily
subject to risk and uncertainty and actual results could differ materially due
to certain risk factors, including without limitation economic conditions,
acquisition risk factors and others set forth from time to time in the
company's filings with the SEC. Specific risks in this press release include
revenue run rate.
For additional information on Lithia Motors, contact: Jeff DeBoer, Senior
VP and Chief Financial Officer (541) 776-6868 (E-mail: invest@lithia.com) or
Dan Retzlaff, Investor Relations at (541) 776-6819 or log-on to:
http://www.lithia.com/CDA_2/CDA_templates/about_lithia_frameset2?pageID=G1