ChoiceParts Selects Chan W. Galbato as CEO
28 June 2000
Experienced G.E. Executive, formerly President and CEO of Coregis, brings vision, world-class business experience to leading online auto parts exchange
CHICAGO - ChoiceParts, the professional's auto parts network, announced
today that it has named Chan W. Galbato to the position of Chief Executive
Officer. ChoiceParts, founded via partnership among the Dealer Services and
Claims Solutions Groups of Automatic Data Processing, Inc. , CCC Information
Services Inc. , and The Reynolds and Reynolds Company , will soon introduce
automotive retailers and collision repair facilities to an integrated, virtual
service parts exchange to serve the multi-billion dollar auto parts market.
Mr. Galbato brings to ChoiceParts more than a decade of world-class
business management experience, having served in several senior executive
positions with General Electric since 1987. He most recently served as
President and Chief Executive Officer of Coregis, a G.E. Capital Company that
provides property and casualty insurance products and services to thousands of
public entities across the United States.
Galbato's initial focus at ChoiceParts will be to guide the rollout of the
company's online parts solution and to establish an organizational structure
to support continued growth.
"Chan is a visionary strategist with a successful track record of
execution, and brings a wealth of leadership experience to ChoiceParts. Coming
from General Electric, he has cultivated world-class experience in building,
launching and growing a wide variety of businesses," said Githesh Ramamurthy,
member of ChoiceParts' board of directors and president and chief executive
officer of CCC Information Services. "His diverse background, which includes
financing, technology, international business, operations, retail, and
services, will greatly benefit ChoiceParts as the company prepares to launch
its online parts solution this fall."
Prior to leading Coregis, Galbato served in senior executive management
positions at GE. Medical Systems, G.E. Appliances and G.E. Transportation.
Early in his career, Galbato also served G.E.'s Corporate Audit Staff, as well
as G.E. Aircraft Engines. During his tenure in these positions, Galbato's
efforts have focused on growing technology service businesses in multiple
industries. In these various leadership positions, Galbato has also led
mergers and acquisitions activity, and cultivated valuable experience in the
supply chain management of parts.
"As CEO of ChoiceParts, I have the opportunity not only to lead the
development of an exciting new B2B exchange, but to benefit from the industry
insight and knowledge of three of the biggest and most well-respected players
in the automotive retailing and collision repair industries," said Galbato.
"By combining new leadership with the insight and knowledge of ADP, Reynolds
and CCC, ChoiceParts will move quickly and intelligently to reach its
aggressive goal of removing the inefficiencies from the auto parts procurement
process. I am looking forward to the challenges this position presents."
Galbato also said that ChoiceParts' ability to integrate its online parts
solution into the existing workstations and applications of auto retailer and
collision repair professionals would be key to the company's market
leadership.
"ChoiceParts' technology integration will make the transition to this new,
more effective parts procurement process as easy as possible for its end
users," said Galbato. "This will allow us to quickly mobilize a virtual
warehouse of parts buyers and sellers, enabling them to find the parts and
information they need more rapidly than ever before, removing many of the
inefficiencies of the auto parts procurement process. The end result will be
more satisfied customers and more profitable auto retail and collision repair
facilities. I'm looking forward to helping this company deliver tremendous
value to the automotive and collision markets."
According to Galbato, ChoiceParts will be permanently headquartered in
Chicago, Illinois. He said that ChoiceParts' board of directors had earlier
been considering a short list of select cities across the United States, and
that Chicago was selected due to its pool of technology resources, its
nearness to the three founding companies, and its central location in close
proximity to many automotive and insurance company headquarters.
About ChoiceParts
Founded via partnership among automotive and collision industry leaders
CCC Information Services Inc. , The Reynolds and Reynolds
Company , and including Dealer Services and Claims Solutions Groups
of Automatic Data Processing, Inc. , ChoiceParts, LLC. will offer
automotive retailers and collision repair specialists an integrated, online
parts solution that assures unprecedented speed, accuracy, knowledge and
convenience. The integrated approach of ChoiceParts' virtual auto parts
exchange will enable buyers and sellers in the parts supply chain to instantly
locate and order the parts they need, helping deliver higher customer
satisfaction rates across the automotive and collision repair industries.