- Marion H. Gray, Jr. becomes Chief Financial Officer, Barton Promoted -
TSX-V Trading Symbol: FSN
CALGARY, July 17 /PRNewswire-FirstCall/ - Franchise Services of North America Inc. ("FSNA" or the "Company") announced today the appointment of Marion H. Gray, Jr. as Chief Financial Officer of the Company. Mr. Gray replaces Dennis Via, who has left the Company to pursue other interests. The Company also announced that Robert M. Barton, the current Chief Operating Officer of the Company has also assumed the role of President of the Company.
Tom McDonnell, the Company's Co-Chief Executive Officer stated, "We are very pleased to welcome Marion to our management group as our new Chief Financial Officer. Marion brings significant experience in managing financial operations and capital structures of an organization, in addition to transactional and capital markets expertise, to the Company. We would like to thank Dennis for his past service to the Company and wish him well in his future endeavors. We are also pleased to announce Bob's promotion to President of the Company and we look forward to his continued contributions to the overall success of the organization."
FSNA is a publicly traded company listed on the TSX Venture Exchange. The Company and its subsidiaries own the following brands: U-Save Car Truck Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center ("ARRC"), Xpress Rent A Car and Peakstone Financial Services.
U-Save, together with its subsidiary ARRC, has over 1,100 locations throughout the United States and is one of North America's largest franchise car rental companies. Having primarily serviced the local market for the past 25 years, the Company is expanding into the airport market with plans for the opening of airport locations in the top 30 leisure markets in the United States and the major airports in Canada. U-Save currently services 31 airport markets in 16 different states. U-Save Car Sales is an expansion of the U-Save brand into the car sales market, and provides goods and services to car sales operators looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the rights to the Rent-A-Wreck(R) trademark for all of Canada. The Rent-A-Wreck(R) system operates a network of 56 franchises from coast-to-coast in Canada, providing a range of vehicle rental, leasing and sales options to its customers. The Rent-A-Wreck(R) system has been in continuous operation in Canada since 1976.
Certain statements made in this news release are forward looking including the paragraph wherein the Company has provided an update on certain regulatory matters. The words "may," "could," "should," "would," "expect," "intend," "estimate," "anticipate," "believe," or "outlook" and similar expressions often identify forward-looking information. By their nature, forward-looking statements require FSNA to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions and projections will not prove to be accurate, that FSNA's assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections. FSNA's forward-looking statements are qualified in their entirety by these cautionary statements. In addition, the forward-looking statements are made only as of the date of this news release, and except as required by applicable law, FSNA undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Franchise Services of North America Inc.