DOWNERS GROVE, Ill., Dec. 14, 2009 (GLOBE NEWSWIRE) -- ATC Technology Corporation (ATC) (Nasdaq:ATAC) today announced a streamlining of senior financial roles.
Todd R. Peters, CEO, said, "Based on our on-going review and evaluation of company-wide cost reduction opportunities, we are combining the positions of Chief Financial Officer and Chief Accounting Officer to reduce the cost structure in our financial organization.
"I am pleased to announce that John M. Pinkerton has been appointed Vice President and Chief Financial Officer, effective immediately, and will retain his responsibilities as Chief Accounting Officer, which he has held for the past year. This appointment recognizes John's decade-long contribution to ATC playing an integral role in the Company's overall financial management and strategic planning activities. I look forward to partnering with John in his new role and a continuation of our solid working relationship."
Peters continued, "As a result of this change, Ashoka Achuthan will be leaving the Company in mid-January, allowing time for a smooth transition. I want to thank Ashoka for his contributions to ATC and wish him continued success."
ATC Technology Corporation is headquartered in Downers Grove, Illinois. The Company provides comprehensive engineered solutions for logistics and refurbishment services to the consumer electronics industries and the light-, and medium- and heavy-duty vehicle service parts markets.
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Certain statements in this news release are "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). These forward-looking statements generally include all statements other than statements of historical fact, including statements that are predictive, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "hopes," and similar expressions. In addition, any statements concerning future financial performance or position (including future revenues, expenses, earnings, growth rates or margins), ongoing business strategies, budgets or prospects, and possible future actions are also forward-looking statements. The forward-looking statements contained in this news release are based on information available to our management as of the date of this news release, and reflect management's judgments, beliefs and assumptions as of the date of this news release with respect to future events, the outcome of which is subject to risks and uncertainties that could have a significant impact on our business, operating results or financial condition in the future. Should one or more of these risks or uncertainties materialize, or should underlying information, judgments, beliefs or assumptions prove incorrect, actual results or outcomes could differ materially from those expressed or implied by the forward-looking statements in this news release. Some of these risks and uncertainties are described in our periodic filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update the forward-looking statements contained in this news release.