SAN FRANCISCO, CA - ABM Industries Incorporated (NYSE:ABM) today announced the promotion of Chief Financial Officer George B. Sundby to Executive Vice President and that Terry Petty has been named Executive Vice President & Chief Operating Officer .
George B. Sundby Announced As New Executive Vice PresidentMr. Sundby, who joined ABM in 2001 as Senior Vice President and Chief Financial Officer was promoted to reflect the breadth of his finance and administrative responsibilities and in recognition of his contributions to the continued progress and growth of ABM over the past several years.
"We appreciate and wish to acknowledge the strength and depth that George brings to our management team. He has been highly successful in enhancing ABM's operational controls, and increasing our cash flows, as well as strengthening the balance sheet, " said Henrik C. Slipsager, President & Chief Executive Officer. "In addition, George has been instrumental in executing our acquisition strategy and in developing the company's management information systems."
Mr. Sundby was employed for over a decade by Transamerica Corporation and its subsidiaries, where he held a number of positions, the most recent being Senior Vice President and Chief Financial Officer of Transamerica Finance Corporation. Before joining Transamerica in 1989, he spent a dozen years with the accounting firm of Ernst & Young.
Trerry Pretty Presented As New Executive Vice President & C.O.O.Prior to joining ABM, Mr. Petty most recently served as Executive Vice President of North American Lodging operations for worldwide hospitality company Marriott International.
"We are pleased to welcome Terry to our management team," said Henrik C. Slipsager, President and CEO of ABM Industries. "His extensive operational and development experience will prove invaluable as we seek to expand our service capabilities, improve our operating efficiencies and maximize our shareholder value. We look forward to Terry's working closely with our division presidents to develop innovative strategies to increase revenues and reduce costs."
Mr. Petty will succeed Jess Benton as Chief Operating Officer. Mr. Benton will continue as an Executive Vice President, overseeing the integration of the Company's recent acquisition of Security Services of America (SSA) and working on other special projects until his anticipated retirement in December 2004. "The entire ABM team wishes to thank Jay for his continuing fine efforts on behalf of ABM, its customers, and employees," said Slipsager. "We look forward to working together during this transition."
Mr. Benton joined ABM in 1970, was appointed a Vice President in 1975, and was largely responsible for the development of the Amtech Group of companies in the 1980's and 1990's before being appointed to his current position in 2000. "ABM has afforded me a lifetime career filled with challenges and opportunities," said Benton.
While serving as Executive Vice President of Lodging Operations at Marriott, Mr. Petty was responsible for the operations of all U.S. and Canadian hotels, including Marriott Hotels, Resorts & Suites, JW Marriott, Renaissance, Fairfield Inns, Courtyard, Residence Inn, TownePlace Suites and SpringHill Suites. During his tenure with Marriott, Mr. Petty successfully developed and implemented numerous strategies, including centralizing the company's field and corporate processing activities and consolidating the managed and franchised hotels, in order to streamline operations and improve profit margins. In addition, Mr. Petty chaired the hotel development committee, which assessed all real estate deals.