Hometown Appoints Former President of Timex to Board of Directors
30 August 2000
Hometown Appoints Former President of Timex to Board of Directors
WATERTOWN, Conn.--Aug. 30, 2000--Hometown Auto Retailers Inc. Wednesday announced it has appointed C. Michael Jacobi to its board of directors.From December 1993 to July 1999, Jacobi was the president, chief executive officer (CEO) and a director of Timex, a manufacturer and marketer of watches. Prior to this, Jacobi held several leadership positions in finance, operations and marketing for Timex. Prior to joining Timex, Jacobi worked for KPMG.
Jacobi has served on several corporate boards in the United States, Europe and Asia. He currently is a member of the board of directors and chairman of the audit committee for Webster Financial Corp., a $10 billion Connecticut-based financial institution. He is also a member of the board of directors for privately held Century Electronics Manufacturing.
Jacobi is a certified public accountant and holds a bachelor's degree in accounting from the University of Connecticut.
"We are lucky to be able to recruit a person of Michael's caliber whose wealth of financial and business experience will have an immediate impact on our company," said Corey Shaker, president and CEO of Hometown. "We look forward to the contributions he will make to Hometown as we aim towards consistent quarter-to-quarter profitability."
At the company's shareholder meeting Aug. 28, Hometown's shareholders approved the appointment of Jacobi to Hometown's board of directors.
About Hometown Auto Retailers
Hometown Auto Retailers sells new and used cars and light trucks, provides maintenance and repair services, sells replacement parts and provides related financing, insurance and service contracts through 11 franchised dealerships located in Connecticut, Massachusetts, New Jersey, New York and Vermont.
The company's dealerships offer 13 American and Asian automotive brands, including Chevrolet, Chrysler, Daewoo, Dodge, Ford, Isuzu, Jeep, Lincoln, Mazda, Mercury, Oldsmobile, Plymouth and Toyota.
The company is active in two "niche" segments of the automotive market: the sale of Lincoln Town Cars and limousines to livery car and livery fleet operators and the maintenance and repair of cars and trucks at a Ford and Lincoln Mercury factory authorized free-standing service center.
This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expressed or implied.
The company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the company.
Therefore, there can be no assurance than any forward-looking statement will prove to be accurate.