April 23, 2003
Stockholm, Sweden, April 23, 2003 - Effective June 16, 2003, Tom Zorn has been appointed Chief Operational Officer COO for Atlas Copco’s U.S.-based Rental Service Business Area (Rental Service Corporation). Tom Zorn, who has long experience from the rental business, is currently President of the Directional Marketing Division of TMP Worldwide.
“I am most pleased that Tom has joined us,” says Freek Nijdam, Senior Executive Vice President Atlas Copco and Head of Business Area Rental Service. “His background with Ford Motor and his experience working with their rental partners, Hertz and Budget Rent-a-car, give him unique insight to the rental business and our use-of-products strategy. In addition, Tom Zorn has been successful in leading turn-around and growth situations.” Operating with three well-respected brands, RSC, Prime Industrial and Prime Energy, Rental Service fulfils the rental and sales demands of the construction, industrial, petrochemical, manufacturing, government and homeowner markets in the United States, Canada and Mexico. As COO Tom Zorn will start to head of the Support Functions of the Business Area and after an initial period, he will take over and lead the operation. Tom Zorn started his career working for Ford Motor Company in various financial and strategic roles for eight years. In 1996 he transferred to Budget Rental Car, a Ford subsidiary and assumed the management responsibility for the division Budget Truck Rental. He restructured that division and implemented a turn-around strategy that reversed five years of revenue and profit declines. After a one-year assignment as Senior Vice President, Global Strategy for Security Capital Group (a venture capital firm and subsidiary of GE Capital), Tom Zorn returned to Budget Rental Car as the President of Ryder Truck Rental (TRS) and Budget Truck Rental. After having completed the merger of those two companies he moved to TMP Worldwide to participate in Internet opportunities. Tom Zorn has a BA in Economics and an MBA from the University of Michigan. CONTACT: Freek Nijdam, Senior Executive Vice President, Business Area Rental Service +1 480 9053356, or +1 480 2260862, [email protected] Marianne Hamilton, SVP Organizational Development and Management Resources, Atlas Copco AB, +46 8 7438590, or +46 70 6658590, [email protected] Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2002, the Group had revenues of close to SEK 48 billion (EUR 5.2 billion), with 98% of revenues outside Sweden, and about 26,000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC, Milwaukee Electric Tool, Chicago Pneumatic, and AEG Power Tools. More information can be found on the web site: www.atlascopco-group.com.