LoJack Corporation (NASDAQ: LOJN) has announced the retirement of Richard T. Riley as Chairman of the Board of Directors. Mr. Riley has held the position of Chairman since 2006. He will step down from this position as of May 20, 2010. He will remain a member of the company’s Board of Directors.
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The company’s President and CEO, Ronald V. Waters, III, will succeed Mr. Riley as the Chairman of the Board. The retirement and appointment are both part of a long standing succession planning process adopted by the company’s Board of Directors.
LoJack Corporation, the company that invented the stolen vehicle recovery market more than two decades ago, is the global leader in finding and recovering a wide range of mobile assets including cars, construction equipment and motorcycles – having recovered more than USD$5 billion in stolen assets worldwide.
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