CANTON, Mass., Aug. 6, 2015 /PRNewswire/ -- LoJack Corporation (NASDAQ: LOJN), today announced that Edward Davis has been named to the Company's Board of Directors, effective immediately. Davis brings with him more than 35 years in law enforcement, most recently as Police Commissioner of the City of Boston from December 2006 until October 2013.
"I am thrilled to be part of LoJack, a cutting edge company that has always been at the important intersection of law enforcement and technology," said Edward Davis, founder and CEO of Edward Davis, LLC. "I look forward to working closely with the board members as LoJack continues to grow and identify new markets for their products and services."
As the commissioner of the Boston Police Department, Davis oversaw police services for more than 600,000 residents along with those visiting and working in the City of Boston. Prior to that, Davis was the superintendent of the Lowell Police Department, a position he held for 12 years and one he rose to after starting out as a patrol officer in 1978.
"The addition of an internationally respected law enforcement leader, such as Ed Davis, is an enormously impactful addition to our board of directors," said LoJack CEO and President Randy Ortiz. "Almost three decades ago, LoJack was created to increase the safety, security and protection of the community and law enforcement. Ed Davis's insight, counsel and understanding of global, national and local security trends will enable the company to deepen our understanding of how to better use technology to expand the unique connection between LoJack, our friends in law enforcement and the company's customers and partners around the world."
Davis is currently the founder and CEO of Edward Davis, LLC, a full service security and consulting firm working with major corporations in the U.S. and abroad. Commissioner Davis has also worked internationally on police issues in Singapore, London, Northern Ireland, Jordan and Israel. He served on the Police Executive Research Forum's (PERF) Board of Directors and was a founding member and first President of the Massachusetts Major City Chiefs Association. Commissioner Davis has been recognized for his efforts locally and nationally, including through the Police Executive Research Forum, the International Association of Chiefs of Police (IACP) and the Major Cities Chiefs Association. He has received Honorary Doctorates from Northeastern and Suffolk Universities and the University of Massachusetts Lowell.
About LoJack Corporation LoJack Corporation, the company that has helped more than nine million people protect their vehicles in the event of theft over the past 25+ years, today provides safety, security and protection for an ever-growing range of valuable assets and people. Leveraging its core strengths, including its well-known brand, direct integration with law enforcement and dealer distribution network, LoJack Corporation is expanding our business to include our traditional vehicle and equipment theft recovery, people at risk and new telematics based products and services. LoJack is delivering new telematics-based solutions for on-road and off-road fleet management, as well as, dealer inventory management. By expanding our brand beyond stolen vehicle recovery, LoJack Corporation is committed to creating a new level of value for its dealer, licensee, customer and investor communities by delivering innovative offerings and multiple technologies in expanding geographies.
Safe Harbor Regarding Forward-Looking Statements From time to time, information provided by the Company or statements made by its employees may contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws, which involve risks and uncertainties. You can identify these statements by use of the words "assumes," "believes," "estimates," "expects," "will," "intends," "plans," "projects" and similar expressions that do not relate to historical matters. Any statements in this news release that are not statements of historical fact are forward-looking statements, including, but not limited to, statements concerning the Company's markets, strategic initiatives, investments and plans for growth. Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties, and accordingly, actual results could differ materially. Factors that may cause such differences include, but are not limited to: (1) the continued and future acceptance of the Company's products and services, including the Company's Pre-Install Program and inventory management, fleet management and telematics solutions; (2) the Company's ability to obtain financing from lenders and to satisfy or obtain waivers for covenant requirements under its credit facility; (3) the outcome of ongoing litigation involving the Company; (4) the Company's ability to enforce the terms of the settlement agreement with Tracker do Brasil LTDA and its impact on the Company's future relationships with Tracker and its affiliates; (5) the rate of growth in the industries of the Company's customers; (6) the presence of competitors with greater technical, marketing, and financial resources; (7) the Company's customers' ability to access the credit markets, including changes in interest rates; (8) the Company's ability to promptly and effectively respond to technological change to meet evolving customer needs; (9) the Company's ability to successfully expand its operations, including through the introduction of new products and services; (10) changes in general economic or geopolitical conditions; (11) conditions in the automotive retail market and the Company's relationships with dealers, licensees, partners, agents and local law enforcement; (12) delays or other changes in the timing of purchases by the Company's customers; (13) the Company's ability to achieve the expected benefits of its strategic alliances with TomTom and Trackunit; (14) financial and reputational risks related to product quality and liability issues; (15) the Company's ability to re-enter the Brazilian market in a timely manner and/or on favorable terms; and (16) trade tensions and governmental regulations and restrictions in Argentina, Brazil and the Company's other international markets.
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