PALM BEACH GARDENS, Fla. (May 5, 2005) — TBC Corp. has extended its employment contract with Orland Wolford, head of the company's Tire Kingdom Inc. subsidiary, through the end of this year.
TBC said in its 8-K report filed with the Securities and Exchange Commission that the contract with Mr. Wolford, president and CEO of Tire Kingdom, would have expired May 8. The extension will expire Dec. 31 unless the parties agree to a new contract. Mr. Wolford and TBC reached the extension agreement April 29.
Mr. Wolford heads up the Tire Kingdom, Merchant's Inc. and NTW Inc. segments, representing TBC's company-owned retail arm. TBC's other retail subsidiary is the franchised Big O Tires Inc. subsidiary.
Mr. Wolford was named president of Tire Kingdom in 2000, shortly after TBC bought the unit. He had previously been a vice president with Florida-based Olson Tire Total Car Care.