Interstate National Corporation Announces Ken Shirilla as a Star Executive Addition

Apr 13, 2010, 09:08 ET from Interstate National Corp.

ATLANTA, April 13 /PRNewswire/ --  Interstate National Corp., a portfolio company of Golden Gate Capital and umbrella corporation for Interstate National Dealer Services (INDS), RpmOne and National Warranty Corporation / Payment Insured Plan, Inc. (NWC), announced today the addition of a key executive to their current team of industry stars.

Ken Shirilla will be joining Interstate's executive team as Chief Operating Officer responsible for leading and managing Interstate's daily operations including underwriting, claims, customer service, and information technology functions to support the organization's financial and business objectives. He will immediately oversee the relocation of Interstate's world headquarters from Uniondale, New York to Atlanta, Georgia.

Ken was most recently a Principal with Diamond Management & Technology Consultants where he worked for over ten years helping multiple financial services, insurance, and consumer products companies with key initiatives focused on developing and implementing business strategy and operational plans.  Ken holds an MBA from Carnegie Mellon's Tepper School of Business as well as a BS in Mechanical Engineering from the Georgia Institute of Technology.

"Ken will be focused on developing new capabilities across Interstate's product and service offerings to improve our flexibility and speed-to-market to meet emerging customers' demands and expectations," CEO Shaun Fetherston stated.

"I look forward to enhancing Interstate's core business and improving distribution channel service levels and providing creative approaches to gain market share," Ken added.

About Interstate National Corporation

Interstate National, headquartered in Atlanta, Georgia, offers producers 35-years of experience with nearly 3 million contracts sold and $1 billion in paid claims to over 1.5 million consumers.  In addition, Interstate National partners with over 3,000 producers in the U.S. and Canada; and has distributed over one-quarter of a billion dollars in underwriting gains and investment income.

About Golden Gate Capital

Golden Gate Capital, headquartered in San Francisco, is a global private equity investment firm with approximately $9.0 billion of capital under management. Investors include leading educational endowments, non-profit foundations, and selected financial institutions, entrepreneurs and managers. The firm's charter is to invest in change-intensive and growth-oriented situations where there is a demonstrable opportunity to significantly enhance a company's value. The Principals of Golden Gate Capital have completed approximately 140 such transactions aggregating to over $19 billion in enterprise value across all major sectors of the economy. For more information visit www.goldengatecap.com.

SOURCE Interstate National Corp.



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