SOURCE: AutoInfo, Inc.

November 16, 2011 12:00 ET

AutoInfo, Inc. Appoints Mike Williams as President

BOCA RATON, FL--(Marketwire - Nov 16, 2011) - AutoInfo, Inc. (OTCBB: AUTO), a non-asset based transportation services company operating through its subsidiaries Sunteck Transport Group, Inc. and E-Transport Group, Inc., today announced the appointment of Michael P. Williams as its president.

Williams joined AutoInfo in 2007 as chief operating officer and general counsel. Harry Wachtel will continue to lead the company as chairman and chief executive officer.

"Mike has been an integral part of the company's senior leadership team during a period of accelerated growth," Wachtel explained. "Our network of sales and operations professionals, supported by administrative and systems support staff, have achieved a balance of continuous process and systems improvement, as well as successfully taking on growth opportunities under Mike's direction as our chief operating officer," Wachtel added. "Mike's appointment as president will enable me to further focus on AutoInfo's strategic direction as we continue to seek growth opportunities and to maximize stockholder values," Wachtel concluded.

Prior to joining AutoInfo, Williams served as general counsel and vice president of legal and business affairs for VEXURE, Inc. He is a member of the Transportation Lawyers Association. Williams received a J.D. from Thomas Cooley Law School, Lansing Michigan and holds a masters degree in taxation from the University of Florida.

AutoInfo, Inc. operates in two business segments, non-asset based transportation services and agent support services. The non-asset based transportation services segment includes our brokerage and contract carrier services which are provided through a network of independent sales agents throughout the United States and Canada. Revenue in this segment is generated from freight transportation transactions. The agent support services segment includes an array of services that we provide to our agent network to support and encourage the expansion of our agents' businesses, primarily financial support through interest bearing long-term loans and non-interest bearing short-term loans, as well as other services including training, margin analysis, marketing assistance, industry and market segment data and business analysis tools. Revenue in this segment consists primarily of interest on interest bearing loans.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expected or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.

Contact Information

  • Contact:
    William I. Wunderlich
    Chief Financial Officer
    (561) 988-9456, ext. 201