Printer Friendly

JAMES E. JACK PROMOTED TO SENIOR EXECUTIVE VICE PRESIDENT AND CFO; JOHN F. HUGHES PROMOTED TO EXECUTIVE VICE PRESIDENT AND TREASURER

 DALLAS, Oct. 12 /PRNewswire/ -- Associates Corporation of North America has announced two key executive promotions.
 James E. Jack has been promoted to senior executive vice president and chief financial officer and will continue to guide the company's corporate finance and treasury operations. John F. Hughes has been named executive vice president and treasurer with continued responsibilities for the company's daily funding requirements and its banking relationship worldwide, reporting to Jack.
 "These two gentlemen represent the outstanding commitment to excellence that has made The Associates a great company. Thanks to their efforts, we have AA credit ratings and a funding strategy that has enabled us to register 68 consecutive quarters of record growth and profit," said Reece A. Overcash Jr., chairman and chief executive officer.
 Jack, 52, joined The Associates in 1963 as a management trainee. After a variety of management assignments in the financial department, he was named treasurer in 1975. In 1978, he was elected vice president and treasurer and in 1980 he was named senior vice president and treasurer. In 1981, he was elected executive vice president and chief financial officer. He was elected to the board of directors that same year.
 A graduate of the University of Notre Dame with a degree in accounting, Jack also holds an MBA from Southern Methodist University.
 Hughes, 47, joined The Associates in 1978 as assistant treasurer. He was elected vice president and treasurer in 1981, and in 1983 assumed the position of senior vice president. He holds a bachelor's degree in business administration from the University of Notre Dame and an MBA from the University of Georgia.
 The Associates funds its operations by issuing commercial paper and by the sale of their debt instruments to banks, institutional investors and the public. The company maintains credit facilities in support of its short-term borrowings, and currently has available credit of more than $7 billion through approximately 135 banks worldwide.
 Associates Corporation of North America provides consumer finance, specialized commercial finance and leasing, and insurance. Part of the Financial Services Group of Ford Motor Company (NYSE: F), it has assets of more than $25.6 billion and manages financial assets of about $3.1 billion for Ford subsidiaries in the United States, the United Kingdom, Japan, Puerto Rico and Canada.
 -0- 10/12/93
 /CONTACT: F. H. Stern of Associates Corporation of North America, 214-541-4042/
 (F)


CO: Associates Corporation of North America ST: Michigan IN: FIN INS SU: PER

MP -- NY064 -- 1128 10/12/93 13:03 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 12, 1993
Words:415
Previous Article:SMITHKLINE BEECHAM DRUG TESTING INDEX TREND AND RATE CHARTS -- JANUARY - JUNE 1993
Next Article:CADWALADER, WICKERSHAM & TAFT NAMES GERSTEIN AS PARTNER
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters