AutoInfo approves ADP sale and appoints Gaspar chairman.FAIR LAWN Fair Lawn, borough (1990 pop. 30,548), Bergen co., NE N.J., across the Passaic River from Paterson; inc. 1924. It is residential with light industries. , N.J.--(BUSINESS WIRE)--March 30, 1995--AutoInfo, Inc. (NASDAQ/NMS: AUTO) today announced that Andrew Gaspar has been named chairman of the board of the company. Gaspar, who has been a member of the board of directors since 1978, replaces Jason Bacher as chairman. Bacher stepped down as chairman of the board and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at the company's stockholder's meeting today in connection with the company's proposed sale of certain of its assets to ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. Claims Solutions Group, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Automatic Data Processing Same as data processing. , Inc. Bacher will become an employee of ADP. The sale of assets was approved by the affirmative vote of approximately 61% of the company's shares. Gaspar is a experienced investment and venture banker with extensive merger acquisition experience. He is currently vice president, secretary and a director of Central European Media Enterprises, Ltd., president of the general partner of R.S. Lauder, Gaspar & Co., L.P., an investment company and vice chairman of the Central European Development Corp. From 1982 until 1991, Gaspar was a managing director of E.M. Warburg, Pincus & Co., Inc. At today's shareholder's meeting, Gaspar stated that he "looked forward to the opportunity to work with Scott Zecher and the existing management team and to guide AutoInfo during a period in which the company intends to build significant value for all of its shareholders." CONTACT: AutoInfo, Fair Lawn William I William I, king of England William I or William the Conqueror, 1027?–1087, king of England (1066–87). Earnest and resourceful, William was not only one of the greatest of English monarchs but a pivotal figure in European . Wunderlich, 201/703-0500 |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion