SAN JOSE, Calif. (Feb. 8, 2005) — Independent Tire Dealers Group L.L.C. has extended the contract of President and CEO Michael Cox for another three years.
With the extension, Mr. Cox's contract will expire April 1, 2009. He joined the organization in April 2003.
“We believe that providing for the continued services of Mr. Cox is in the best interests of the company and its shareholders,” said Chairman H. “Skip” Lightfoot.
Separately, ITDG said it also is in the final stages of forming a captive insurance company. The firm initially will handle workers' compensation insurance, then add general liability and possibly health and medical coverage. About 40 ITDG members will participate in the company's formation, though the program will be available to companies outside ITDG once it is established.
ITDG is made up of 95 members, including 54 shareholders, in 10 western states representing about 287 retail tire and service centers.