SUBARU PRESIDENT ANNOUNCES RESIGNATION
SUBARU PRESIDENT ANNOUNCES RESIGNATION CHERRY HILL, N.J., July 9 /PRNewswire/ -- Subaru of America, Inc.
has announced that its President and Chief Executive Officer Thomas R. Gibson, has resigned effective Aug. 7, 1992, to accept a position outside of the automotive industry.
Gibson will become president and chief executive officer of SMG, a Philadelphia-based organization. SMG is a rapidly growing facilities management company specializing in arenas, stadiums and convention centers. According to Gibson, "It is with mixed emotions that I leave Subaru. While I'm confident the company is on the right track for the future, this represents an outstanding opportunity for me and an exciting new career direction." Gibson came to Subaru in October 1981, as senior vice president- sales and marketing. In November 1983, he was promoted to executive vice president-operations and in March 1986, was named president and chief operating officer. During his tenure at Subaru, Gibson was a key figure during the company's rapid growth in the early 1980s and was instrumental in guiding it through the acquisition and subsequent merger with its long time partner company Fuji Heavy Industries, Ltd. in August 1990. In September of that year, a management team was formed consisting of Gibson and Takeshi Higurashi, a veteran of Fuji Heavy Industries' management in Japan. Higurashi currently serves as the Subaru of America chairman of the board and chief executive officer. He will temporarily assume the additional responsibilities created by Gibson's departure. /delval/ -0- 7/9/92 /CONTACT: Richard Marshall, 609-488-3327, or Alex Fedorak, 609-488-8615, both of Subaru of America, Inc./ CO: Subaru of America, Inc. ST: New Jersey IN: AUT SU: PER
MJ-JS -- PH011 -- 7834 07/09/92 12:11 EDT
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|Date:||Jul 9, 1992|
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