IAAI Insurance Auto Auctions (MM)

Insurance Auto Auctions Announces Appointment of John R. Nordin as Chief Information Officer SCHAUMBURG, Ill., Nov. 11 /PRNewswire-FirstCall/ -- Insurance Auto Auctions, Inc. , a leading provider of automotive salvage and claims processing services in the United States, today announced the appointment of John R. Nordin as the Company's new Chief Information Officer. "We are excited to have someone with John's knowledge and expertise step into the position of CIO and make an immediate and meaningful contribution to the company," said Tom O'Brien, CEO of IAA. "Over the past couple years we have made a strong commitment to improving our technological capabilities throughout the organization, and this announcement reinforces that long-term commitment. John has the broad skill set necessary to build off of our new, state-of-the-art IT system to take the company to the next level of efficiency and profitability." Nordin has more than 25 years of IT systems development and implementation experience. He most recently served as Vice President and CIO of A.M. Castle & Co -- a distributor of carbon alloy and stainless steels, aluminum, titanium, cast iron and plastics. In that position he led the design, development and implementation of a product allowing customers to check inventory levels, manage orders and communicate with the company. Prior to that, Nordin served as Vice President and CIO of Candle Corporation of America, where he was responsible for all aspects of the company's information technology assets across ten domestic and two international locations. Before Candle Corp., Nordin held senior-level Information Systems positions with Safco Corporation and Caremark International. "With much of the new system implementation behind us, John's initial focus at IAA will be on phase two of our IT system development plan as well as realigning the organization. This phase of the plan will focus on additional operating efficiencies, the evaluation of real-time bidding and a variety of other services that our insurance company customers have requested. This next generation of the system will leverage the infrastructure and technology platform that have already been put in place, and John will be instrumental in ensuring this phase of our technology initiative is completed in a timely and effective manner," concluded O'Brien. About Insurance Auto Auctions, Inc. Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles. The Company currently has 74 sites across the United States. Safe Harbor Statement Certain statements in this document contain forward-looking information that is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking information. In some cases, you can identify forward looking statements by our use of words such as "may, will, should, anticipates, believes, expects, plans, future, intends, could, estimate, predict, projects, targeting, potential or contingent," the negative of these terms or other similar expressions. The Company's actual results could differ materially from those discussed or implied herein. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's annual report on Form 10-K for the fiscal year ended December 29, 2002 or subsequent quarterly reports. Among these risks are: changes in the market value of salvage; the quality and quantity of inventory available from suppliers; the ability to pass through increased towing costs; that vehicle processing time will improve; legislative or regulatory acts; competition; the availability of suitable acquisition candidates and greenfield opportunities; the ability to bring new facilities to expected earnings targets; the dependence on key insurance company suppliers; the ability of the Company and its outside consultants to successfully complete the re-design of the Company's information systems, both in a timely manner and according to costs and operational specifications; and the level of energy and labor costs. Additional information about Insurance Auto Auctions, Inc. is available on the World Wide Web at http://www.iaai.com/ DATASOURCE: Insurance Auto Auctions, Inc. CONTACT: Scott Pettit, Chief Financial Officer of Insurance Auto Auctions, +1-847-839-4040, or General Inquiries, Chris Kettmann of Ashton Partners, +1-312-553-6716 Web site: http://www.iaai.com/

Copyright