WESTWOOD, Mass. - LoJack Corporation announced today that Michael Umana will be joining the company as Senior Vice President and Chief Financial Officer succeeding Keith E. Farris, who will retire from the position of Chief Financial Officer on March 15, 2006, but will remain with the company to ensure a smooth transition.
"Keith Farris has been a key member of the executive management team since joining LoJack in October of 2000. He has built and led a first class finance organization and successfully supported the growth of the company," said Joseph F. Abely, Chief Executive Officer.
Mr. Umana served as Chief Financial Officer of Saucony, Inc., beginning in 1999 and became Executive Vice President, Chief Operating Officer, and Chief Financial Officer of the company in 2001. In 2005 he became President of the international performance-oriented footwear and apparel company. From 1997 until joining Saucony, Inc., Mr. Umana was Vice President and Chief Financial Officer of the Analytical Instrument Business Unit at PerkinElmer, Inc., a high technology manufacturer. From 1985 to 1997 he held various auditing and consulting positions, the most recent as Senior Manager, Business Consulting at Arthur Andersen, LLP. Mr. Umana is a Certified Public Accountant and received his undergraduate degree in accounting from Boston University.
In announcing the appointment, Mr. Abely said, "Mike's strong background as a chief financial officer and his experience with worldwide sales, marketing, operations, finance and administration will be an important asset as LoJack expands its international operations and continues to increase its penetration of the new car market in the United States and to develop products for new market channels here and abroad."