TBC extends contract of Orland Wolford

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TBC Corp. has extended the contract of Orland Wolford, the CEO and president of its independent retail tire store subsidiaries.

Wolford's original contract was set to expire May 8, 2005. The term of the agreement will now expire on Dec. 31, 2005, "if not earlier superseded by a new employment agreement," reported the company in its Form 8-K earlier today.

Wolford runs three wholly-owned TBC subsidiaries: Tire Kingdom Inc., Merchant's Inc. and NTW Inc. The chains total 609 outlets.

Combined with its Big O Tires Inc. division, which is made up of 563 franchised outlets, TBC has a retail network of 1,172 tire outlets.

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