Mr. Day added that since Mr. Olsen joined TBC in December 2004, he “has been a very effective leader and has consistently produced superior results. He is dedicated to providing growth opportunities for the TBC associates and believes in mutually beneficial strategic relationships with TBC suppliers.
“I am confident that TBC will prosper under Erik's leadership.”
Mr. Olsen joined Palm Beach Gardens-based TBC as senior vice president and chief marketing officer. From 2005 to 2008 he had the added responsibility of serving as president of Carroll Tire Co., a TBC acquisition. In 2008 Mr. Olsen was named president and CEO of TBC Wholesale Group, and was elected to corporation's board of directors. This year he was appointed chief operating officer.
Before joining TBC Mr. Olsen held various senior management positions with Michelin North America Inc. Prior to joining the tire maker in 1996, he held marketing and sales positions with Procter & Gamble, Clorox Co. and the Ralston Foods unit of Ralcorp Holdings Inc.
According to TBC, Mr. Olsen received an undergraduate degree from the University of North Carolina at Chapel Hill.
The company said Mr. Day will remain with TBC and continue as chairman of its board of directors.
TBC's retail division operates 931 stores and also controls more than 65 Big O Tires and 40 Midas locations in various markets. The company also has in its stable the Tire Kingdom, NTB and Merchant's Tire chains.
Through its Carroll Tire wholesale distribution centers, the company also markets directly to independent tire dealers across the U.S., with Carroll handling a wide variety of proprietary and national brands from 38 distribution centers.