MEMPHIS, Tenn. (June 27, 2000) — John B. Adams has been promoted by TBC Corp. to president of its Big O Tires Inc. subsidiary following the resignation of Steven P. Cloward, longtime president and CEO of the tire franchiser.
Mr. Adams had been Englewood, Colo.-based Big O´s executive vice president of operations since May 1998. Prior to that, for nearly 10 years he was the company´s chief financial officer and had been a member of its board until Big O was acquired by TBC in 1996.
Larry Day, TBC´s president and CEO, said the firm is "fortunate to have a person with the abilities and qualifications of John Adams for the presidency of Big O. He is experienced in every facet of Big O´s business, and is highly attuned to the overall strategies and objectives of TBC Corp."
Citing his desire to enter other business ventures, Mr. Cloward resigned Big O´s top post June 19.
A TBC spokesman said Big O will no longer have a chief executive officer position.