Capital Automotive REIT Adds Four to Board of Directors
12 May 1998
Capital Automotive REIT Adds Four to Board of Directors
MCLEAN, Va., May 12 -- Capital Automotive REIT
today announced that Craig Fuller, R. Michael McCullough, Lee P. Munder, and
Vincent A. Sheehy have been named to the Board of Directors.
Craig L. Fuller, 47, is the Chairman of Global Board Services of
Korn/Ferry International, where he is responsible for conducting board and
senior level executive search assignments. Prior to joining Korn/Ferry,
Mr. Fuller served as Vice Chairman of Burson-Marsteller, Senior Vice President
for corporate affairs at Philip Morris Companies, and President of U.S
Operations for Hill & Knowlton. Mr. Fuller served eight years in the White
House as assistant to President Reagan for Cabinet Affairs and Chief of Staff
to Vice President Bush. Mr. Fuller holds a Bachelor of Science in political
science from the University of California at Los Angeles and a Master's in
Urban Studies from Occidental College.
R. Michael McCoullough, 59, is the former Chairman and Chief Executive
Officer of Booz, Allen & Hamilton Inc., an international management and
technology consulting firm. Mr. McCoullough joined Booze, Allen & Hamilton in
1965, and was elected Partner in 1971 and Managing Partner of the firm's
Technology Center in 1978. Mr. McCullough has been a member of the Board of
Directors of the Professional Services Council since 1980, serving as
President from 1982-85. He has served as a member of the Graduate School of
Business Advisory Council at Stanford University and the University of Detroit
Mercy Board of Trustees, and currently serves as a member of the Board of
Directors of Interstate Hotels, O'Sullivan Corporation, Host Marriot Services,
Watson Wyatt Worldwide, National Rehabilitation Hospital, and is Chairman of
the Suburban Hospital Foundation. Mr. McCullough holds a Bachelor of Science
degree in Electrical Engineering from the University of Detroit in 1962.
Lee P. Munder, 53, is the founder and Chairman of Munder Capital
Management. Prior to founding Munder Capital Management, Mr. Munder spent
12 years at Loomis Sayles & Company, Inc., where he was a Vice President and
Senior Partner. Currently, Mr. Munder serves as President of the Munder Funds
and is a member of the Board of Directors of Framlington Holding, Ltd. and the
Framlington Group. Ltd. Previously, he was President and a board member of
the Financial Analysts Society of Detroit and a member of the Board of
Directors of Security Pacific Investment Group. Mr. Munder holds a Bachelor
of Science from Ohio State University and an M.B.A from Wayne State
University.
Vince Sheehy, 39, is a second-generation operator of the Sheehy Auto
Stores, which includes 15 franchises, that produced $324 million in revenue in
1996. Sheehy Auto Stores was among the initial properties bought by Capital
Automotive concurrent to its initial public offering. Mr. Sheehy's
dealerships have won numerous awards including the North American Customer
Excellence Awards in 1995, 1996 and 1997, and the President's Circle Award in
1996. Prior to joining Sheehy Auto Stores in 1987, Mr. Sheehy was an
assistant brand manager with General Mills, Inc. Mr. Sheehy is a member of
Nissan's National Dealer Advisory Board and National Product Committee.
Mr. Sheehy holds a Bachelor of Arts in economics from Dickinson College and an
M.B.A. from the Wharton School.
"We are delighted to add executives with such diverse and impressive
backgrounds to the Capital Automotive team," said President and Chief
Executive Officer Thomas D. Eckert. "One of our strengths has been our
ability to attract real estate, finance and automotive industry leaders to our
company whose diverse backgrounds add depth and breadth to our relationship
base. Adding the extensive expertise of these executives, Capital Automotive
is further positioned to capitalize on the significant opportunities we are
seeing in the automotive dealership marketplace and continuing our
relationship-driven strategy for growth."
Capital Automotive REIT, headquartered in McLean, Virginia, is a
self-administered, self-managed real estate investment trust formed to acquire
the real property and improvements used by operators of multi-site,
multi-franchised motor vehicle dealerships and motor vehicle related business.
Upon closing of pending transactions, Capital Automotive will own
59 properties, including 88 franchises, representing 26 automotive brands, in
12 states.
The matters discussed in this press release include forward-looking
statements. In addition, when used in this press release, the words "intends
to," "believes," "anticipates," "expects" and similar expressions are intended
to identify forward-looking statements. Such statements are subject to a
number of risks and uncertainties. Actual results in the future could differ
materially and adversely from those described in the forward-looking
statements as a result of various important factors, including the general
economic climate, the supply and demand for automotive properties, interest
rate levels, the availability of financing, and other risks associated with
the acquisition and leasing of properties, including risks that the tenants
will not pay rent or that operating costs may be greater than anticipated and
the other risk factors set forth in the Company's filings with the Securities
and Exchange Commission. The Company undertakes no obligation to publicly
release the result of any revisions to these forward-looking statements that
may be made to reflect any future events or circumstances.
SOURCE Capital Automotive REIT