PHOENIX, Feb. 8, 2001 (PRIMEZONE) -- Frontier Adjusters of America, Inc. (AMEX:FAJ), a nationwide franchisor and licensor of claims adjusters, announced today that James J. Ferzoco has been appointed as the Chief Operating Officer of the Company, effective as of February 16, 2001. Mr. Ferzoco currently serves as Chief Operating Officer of United Financial Adjusting Company, Inc. He will also continue in that capacity. Mr. Ferzoco earned a BS degree in Business Administration from Suffolk University and an MBA in Business Administration and Corporate Finance from Fordham University. Mr. Ferzoco was previously head of operations of Oxford Resources Corp., the second largest national independent automobile leasing company, now part of Bank of America.
The Company also announced that Jeffrey C. Jordan, Vice President and a Director of the Company, and Laurel A. Park, Controller and Assistant Secretary of the Company, have resigned from their positions and will leave the Company on February 16, 2001, each to pursue other interests. Mr. Ferzoco has been selected to replace Mr. Jordan on the Company's Board, effective February 16, 2001.
John M. Davies, the Company's Chairman and President, commented that "Frontier appreciates the contributions that Jeff and Laurel have made to our Company. We will miss them and we wish them well in their future endeavors."
Frontier Adjusters of America, Inc. licenses and franchises independent claims adjusters throughout North America, with more than 680 advertised locations in 50 states, the District of Columbia and Canada. The Company also owns and operates independent insurance adjusting businesses in Arizona and Nevada.
From time to time, the Company makes forward-looking statements in its public disclosures. This press release includes statements of the Company that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Important risks and uncertainties that could cause the Company's results to differ materially from those contained in such forward looking-statements are contained in the filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended June 30, 2000.