Michael Shonborn Resigns as Hometown's Chief Financial Officer
10 January 2001
Michael Shonborn Resigns as Hometown's Chief Financial Officer
WATERTOWN, Conn.--Jan. 10, 2001--Hometown Auto Retailers (Nasdaq NM: HCAR) today announced that Michael Shonborn, the company's chief financial officer, is resigning, effective Feb. 2, 2001, to pursue other business opportunities.As part of the company's ongoing program to reduce overhead, John Stavola, a certified public accountant and the company's controller and chief accounting officer, has been appointed as interim chief financial officer.
About Hometown
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 10 dealerships located in Connecticut, Massachusetts, New York and Vermont.
Hometown's dealerships offer 13 American and Asian automotive brands, including Chevrolet, Chrysler, Daewoo, Dodge, Ford, Isuzu, Jeep, Lincoln, Mazda, Mercury, Oldsmobile, Plymouth and Toyota.
It is active in two "niche" segments of the automobile 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.
Hometown'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 that any forward-looking statement will prove to be accurate.