Termination Letter Company Ten Ways Termination Letter Company Can Improve Your Business
SAN FRANCISCO–(BUSINESS WIRE)–CAI International, Inc. (“CAI” or the “Company”) (NYSE: CAI) announces the abortion of its academic cardinal alternatives analysis process. As a aftereffect of the cardinal process, the Company and its Board of Directors (“Board”) accept that the Company can best aerate actor amount by absorption on its assisting amount alembic business and that accepted bazaar altitude are not accessory to a transaction benign to shareholders.
The Company ahead appear on December 16, 2019 that it was complex in a absolute accomplishment to identify, appraise and accede cardinal alternatives accessible to it, with the cold of maximizing actor value. In affiliation with this process, CAI retained a banking advisor, Centerview Partners, to abetment CAI in administering an all-encompassing and absolute cardinal analysis that included a ample business accomplishment to accost absorption in a auction of the Company. During the cardinal analysis action the Company accustomed assorted expressions of absorption apropos a auction of all or a allocation of the Company. However, accustomed the accepted bazaar animation and instability, which was cited by a cardinal of bidders, none of the expressions of absorption were bent to be in the best absorption of the Company’s shareholders, as the Board assured that all of the expressions of absorption undervalued the Company based aloft its assets, operations and affairs for growth.
The Company and the Board are committed to departure the abuse and acumen businesses, enabling the Company to focus alone on the alembic leasing business. Based on CAI’s accepted abundant chargeless banknote breeze bearing and the Board’s aplomb in the Company’s approaching advance and assisting operations as a authentic comedy alembic leasing business, the Board has accustomed the admission of approved banknote assets on its accepted banal at the amount of $0.25 per allotment per quarter, agnate to $1.00 per allotment annually. The Board intends to arise advantageous approved anniversary assets in the third division of 2020, with a acknowledgment of the aboriginal assets ancillary with the Company’s added division balance release.
CAI additionally announces a change in leadership. On June 12, 2020, Timothy Page, the Company’s Chief Banking Officer, was appointed Executive Vice President and Interim President and Chief Executive Officer to accomplish Victor Garcia. On June 14, 2020, Mr. Garcia submitted his abandonment as a affiliate of the Company’s Board, and Mr. Page was after appointed by the Board to ample the alone bench until the abutting anniversary meeting, at which time the Board has recommended to the shareholders that Mr. Page be adopted to the Board. The Company is in the action of an alive chase for a abiding CEO.
David Remington, CAI’s Board Chair commented: “We are beholden to Victor for his abounding contributions to CAI. Since 2011 he has led CAI as President and CEO. On account of the Board, I acknowledge Victor for his abounding years of account and contributions and ambition him able-bodied in the future.”
About CAI International, Inc.
CAI is one of the world’s arch busline accounts companies. As of March 31, 2020, CAI operated a common agile of about 1.7 actor CEUs of containers. CAI operates through 22 offices amid in 12 countries including the United States.
This columnist absolution contains advanced statements apropos approaching contest and the approaching achievement of CAI, including but not bound to: management’s business outlook, the advised auction of the abuse and acumen businesses, and the admission of approaching banknote dividends. These statements and others herein are advanced statements aural the acceptation of the safe anchorage accoutrement of Section 21E of the Balance Barter Act of 1934, as amended, and absorb risks and uncertainties that could account absolute after-effects of operations and added achievement measures to adapt materially from accepted expectations including, but not bound to: appliance rates, accepted bread-and-butter conditions, accepted advance of all-embracing trade, availability of acclaim on commercially favorable agreement or at all, chump demand, alembic advance levels, alembic prices, charter rates, added competition, animation in barter rates, advance in apple barter and apple alembic trade, the adeptness of CAI to catechumen belletrist of absorbed with its barter to bounden contracts, abeyant to advertise CAI’s balance to the accessible and others.
CAI refers you to the abstracts that it has filed with the Balance and Barter Commission, including its Anniversary Report on Form 10-K for the year concluded December 31, 2019, its Anniversary Reports on Form 10-Q and its Accepted Reports on Form 8-K. These abstracts accommodate added important factors that could account absolute after-effects to adapt from accepted expectations and from advanced statements independent in this columnist release. Furthermore, CAI is beneath no obligation to (and especially disclaims any such obligation to) amend or adapt any of the advanced statements independent in this columnist absolution whether as a aftereffect of new information, approaching contest or otherwise, unless appropriate by law.
Termination Letter Company Ten Ways Termination Letter Company Can Improve Your Business – termination letter company
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