Treadways' Wire announces retirement date

April 23, 2005

Dan Wire, chairman and CEO of East Norriton, Pa.-based Treadways Corp., has announced he plans to retire in 2006.

"I have informed our parent company, Sumitomo Corporation of America, that I intend to retire from my position of chairman and CEO of Treadways Corp. effective at the end of this fiscal year, March 31, 2006," he said from San Francisco, where Treadways Corp. is celebrating its 20th anniversary. "I have agreed to remain on through March 2008 in an advisory/consulting role. My wife and I will be relocating to our home in Indiana in the near future and I will commute from there for the remainder of this year.

"There are several factors which weighed upon this decision but the major one was that each time we visited Indiana, it became tougher for both of us to return to Philadelphia. It is also very gratifying to be able to pass along a company that is at the very top of its game. Treadways has achieved record sales and profits for each of the past three years and, based on a record first quarter in 2005, is well on its way to a fourth straight record year.

"My only frustration is that I have not been able to move our company into the retail arena but, after several unsuccessful attempts, it is apparent that it is going to take a lot more time and effort than I am willing to commit so that goal is best left to my successor.

"I want to thank all of our employees, dealers, suppliers and industry associates for their support and friendship over the past 15 years, and I look forward to staying in touch in the future."

A 37-year industry veteran, Wire joined Treadways as vice president of sales and marketing for the Sumitomo brand in 1991. He was promoted to senior vice president of sales and marketing for the corporation in 1995. He replaced Tad Abe as CEO (and president) in 1996.

Wire's career path has led him to both ends of the tire distribution chain, from the supplier side (Firestone Tire & Rubber Co., 1968-1972; General Tire & Rubber Co., 1972-1982) to the retail side (co-owner of Monona Tire, based in Madison, Wis., 1982-1991).