Cintas Corporation Names Karen Carnahan Vice President of Corporate Development
Mike Thompson Succeeds Carnahan as Senior Treasury Officer
*NOTE TO MEDIA: High Resolution Photos Available For Download At Bottom Of Press Release
CINCINNATI, OH, January 31, 2006 - Scott Farmer, President and CEO of Cintas Corporation (Nasdaq: CTAS), announced today that Karen Carnahan has assumed responsibility for the company's acquisition efforts as Cintas' new Vice President of Corporate Development. Mike Thompson has been named Cintas Vice President and Treasurer, succeeding Carnahan as the company's senior treasury officer.
"Since 1997, Karen has displayed exceptional leadership as the company's senior treasury officer and ambassador to the financial community," said Scott Farmer. "Her 26-years of Cintas experience give her an in-depth perspective on our acquisition processes, and we look forward to her continued contributions to the company's success in her new position."
Carnahan, a 26-year Cintas employee-partner and Cum Laude graduate of The Ohio State University, will be responsible for Cintas' acquisition efforts, including financial analysis, contract negotiation, due diligence, and integration across all of Cintas' existing and new business units.
Mike Thompson, a 12-year Cintas employee-partner, will succeed Carnahan as Cintas Vice President and Treasurer and be responsible for the company's finance and treasury operations. Thompson most recently served as the company's Corporate Controller, responsible for accounting consolidation, SEC and external reporting, and payroll operations.
"Mike's proven himself to be a solid leader with exceptional analytical skills, and we look forward to his contributions in his new role," said Scott Farmer.
A graduate of John Carroll University in Cleveland , OH , Thompson previously held the positions of Director of Corporate Development and Financial Analyst at Cintas. Prior to joining the company in 1994, Thompson worked for six years as a financial manager at Ernst and Young.
Headquartered in Cincinnati , Cintas Corporation provides highly specialized services to businesses of all types throughout North America . Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services to approximately 700,000 businesses. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS, and is a Nasdaq-100 company and component of the Standard & Poor's 500 Index. The Company has achieved 36 consecutive years of growth in sales and earnings, to date.
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The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements. Forward-looking statements may be identified by words such as "estimates", "anticipates", "projects", "plans", "expects", "intends", "believes", "seeks", "could", "should", "may" and "will" or the negative versions thereof and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ from those set forth in or implied by this news release. Factors that might cause such a difference include, but are not limited to, the possibility of greater than anticipated operating costs including fuel costs, lower sales volumes, the performance and costs of integration of acquisitions, fluctuations in costs of materials and labor including increased medical costs, costs and possible effects of union organizing activities, uncertainties regarding any existing or newly-discovered expenses and liabilities related to environmental compliance and remediation, the cost, results and ongoing assessment of internal controls for financial reporting required by the Sarbanes-Oxley Act of 2002, the initiation or outcome of litigation, higher assumed sourcing or distribution costs of products, the disruption of operations from catastrophic events, changes in federal and state tax laws and the reactions of competitors in terms of price and service. Cintas undertakes no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date on which they are made.