LoJack Corporation Announces Chief Financial Officer Transition

CANTON, Mass., May 27, 2014 /PRNewswire/ -- LoJack Corporation (NASDAQ: LOJN) today announced that Executive Vice President and Chief Financial Officer Donald R. Peck is leaving the Company to pursue new opportunities. LoJack has retained international executive search firm Heidrick & Struggles to assist in the process of identifying a successor. Effective immediately, Casey Delaney, LoJack's Vice President and Controller since April 2011, will serve as Acting CFO until a full-time replacement is named. Peck will stay on in an advisory role until June 30, 2014 to assist in the transition.

"Since joining LoJack in November 2011, Don has strengthened our finance organization and contributed to the success of the Company," said Randy Ortiz, LoJack's Chief Executive Officer and President. "I want to thank Don for his service and wish him the best in his future endeavors. Casey, who has 25 years of corporate finance experience, is well qualified to perform as Acting CFO during the executive search process." 

"I have enjoyed the opportunity to work with Randy and the other members of the senior management team as LoJack has grown its domestic Stolen Vehicle Recovery business and expanded into the fleet management space," Peck said. "Under Randy's leadership, LoJack is well positioned to execute on its strategic objectives. With this month's successful ruling related to the Brazilian arbitration, the time is right for me to take the next step in my career. I look forward to assisting with Casey's transition in her new role as Acting CFO."

Before joining LoJack, Delaney worked as Corporate Controller of WB Mason Company from October 2008 to April 2011, and during her tenure served as Acting CFO for a 12-month period.  Before joining WB Mason, Delaney served as the Director of US Accounting at Computershare LTD from August 2007 to October 2008 and from April 1992 to August 2007 served in various finance positions at Houghton Mifflin. From 1989 to 1992, Delaney worked as a CPA for Deloitte & Touche in Boston.

About LoJack Corporation
LoJack Corporation, the company that has helped more than nine million people protect their vehicles in the event of theft over the past 25+ years, today provides safety, security and protection for an ever-growing range of valuable assets and people. Leveraging its core strengths, including its well-known brand, direct integration with law enforcement and Dealer distribution network, LoJack Corporation is expanding into new areas across the continuum from theft deterrence to recovery. The Company is focusing on creating a new level of value for its Dealer, customer and investor communities by delivering innovative offerings and multiple technologies in expanding geographies. For more information, visit www.lojack.com, www.autotheftblog.com, www.youtube.com/lojack, www.twitter.com/LoJackCorp,or www.Facebook.com/LoJackCorp.

Safe Harbor Regarding Forward Looking Statements
From time to time, information provided by the Company or statements made by its employees may contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws, which involve risks and uncertainties.  You can identify these statements by use of the words "assumes," "believes," "estimates," "expects," "will," "intends," "plans," "projects" and similar expressions that do not relate to historical matters.   Any statements in this news release that are not statements of historical fact are forward-looking statements. Factors that may cause such differences include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 and the Company's other filings with the Securities and Exchange Commission.

Readers should not place undue reliance on any forward-looking statements, which only speak as of the date made.  Except as required by law, the Company undertakes no obligation to release publicly the result of any revision to the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:
Scott Solomon
Sharon Merrill
(617) 542-5300

Donald R. Peck
LoJack Corporation
(781) 302-4200

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SOURCE LoJack Corporation

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