Auto-By-Tel announces strategic personnel additions; Michael J. Lowell joins as COO; John M. Markovich, CFO; Mark W. Lorimer, general counsel.IRVINE, Calif.--(AutomotiveWire)--Jan. 14, 1997--Auto-By-Tel, the online automobile purchasing program, Tuesday announced the company has filled a number of strategic personnel positions in light of its rapid expansion and plans for future growth. In naming Michael Lowell, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of its marketing group; John Markovich, chief financial officer; and Mark Lorimer Lor´i`mer n. 1. A maker of bits, spurs, and metal mounting for bridles and saddles; hence, a saddler. , general counsel, Auto-By-Tel has enlisted more than 40 years of seasoned management experience to help lead the company. "We are delighted to announce the addition of these three individuals to the strong management team already in place at Auto-By-Tel," said Peter Ellis There are several people of note named Peter Ellis:
Throughout Lowell's 14 years of financial and operational management experience, he has managed domestic and international acquisitions and designed and implemented cost reduction and asset management programs. Most recently, Lowell served as vice president and chief financial officer for Alpha Microsystems Alpha Microsystems is a computer company founded in 1977 by Dick Wilcox and Bob Hitchcock. The first Alpha Micro computer was based upon the WD16 microprocessor chip from Western Digital. in Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif., where he led the divestiture of the company's European operation and effectively managed the financial, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , information systems and various operational areas of the business. Lowell also was an integral player in the launch of the company's Internet product line. Prior to joining Alpha Microsystems, Lowell served as vice president and chief financial officer for Wahlco Environmental Systems Inc. Markovich brings to Auto-By-Tel more than 16 years of financial management experience, including the completion of more than $1 billion in various financing transactions. Prior to joining Auto-By-Tel, Markovich most recently served as vice president and chief financial officer at Optical Coating An optical coating is a process of placing thin layer of material on an optical component such as a lens or mirror which alters the way in which the optic reflects and transmits light. Laboratory Inc. in Santa Rosa Santa Rosa, city, Argentina Santa Rosa, city (1991 pop. 80,629), capital of La Pampa prov., central Argentina. It is a modern city and road junction surrounded by a rich agricultural and cattle-raising area. , Calif. Previously, he held senior financial positions with Citibank and Western Digital Corp. Lorimer joins Auto-By-Tel as vice president, general counsel and secretary. Most recently, Lorimer served as a capital markets partner for the international law firm, Dewey Ballantine. Lorimer has extensive experience representing participants in domestic and international debt and equity offerings, structured finance transactions, mergers and acquisitions and joint ventures, as well as secured lending, venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends , LBOs, software development and media property distribution. Auto-By-Tel Corp. runs the leading online automotive purchasing program, having processed in excess of 400,000 Purchase Requests to date. The company believes it has one of the largest commercial Websites, accounting for a substantial volume of Internet-based commerce. There are more than 1,500 participating dealers servicing consumers in the United States and Canada. All must maintain high CSIs (customer satisfaction index) and are constantly evaluated by the consumer. The program is available on the Internet at www.autobytel.com or on any of the major online services and can be used by U.S. and Canadian residents. CONTACT: Darren Brandt, 212/704-4449 dbrandt@edelman.com or Melanie Webber, 213/960-1360 melanie@rbicom.com |
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