Wes Lucas To Transition, Tom Oberdorf To Succeed Lucas As Sirva CEO

OAKBROOK TERRACE, IL - (Oct. 4, 2017) - Larry Bossidy, SIRVA's Chairman of the Board of Directors, today announced that Wes Lucas has decided to transition from his role as Chief Executive Officer of the company and to join Gryphon Investors. Lucas will continue to serve on SIRVA's Board of Directors while Tom Oberdorf, SIRVA's current CFO, will succeed Lucas as CEO.

As part of a thoughtful CEO transition, Mr. Lucas will continue to serve SIRVA's customers, agents, and staff from his position on SIRVA's Board of Directors. Lucas, 54, led SIRVA as its CEO for nine years, previously held CEO positions with four other companies and will now become a Partner at Gryphon Investors, a leading private equity firm with a focus on investing in and growing middle market companies.

Mr. Bossidy stated that, "Since becoming CEO of SIRVA in July 2008, Wes built and led a talented management team that has done an outstanding job of transforming SIRVA, and created the world's leading relocation and moving company. I have enjoyed working with Wes for over twenty years, first starting in 1995 at AlliedSignal and then as he progressed through several successful CEO positions. Wes is a strong leader with an excellent mix of strategic vision, execution excellence, and team building. Over the last nine years under Wes' leadership, SIRVA has been transformed into the global leader with significant gains in market share, customer value, quality, productivity, innovation and expansion into new markets. We will miss Wes, but we wish him much success as he takes the next step in his career."

Mr. Lucas commented that, "SIRVA is truly a great company and it has been an honor and a privilege to serve as its CEO. I am very proud of the value that we deliver to our customers and shareholders and the exceptional talent of our people. I look forward to continuing to serve SIRVA as a board member and supporting Tom and the entire SIRVA team as they continue to achieve even greater success in the future."

Tom Oberdorf, who will succeed Lucas as CEO of SIRVA, has served as CFO of the company since 2011. Prior to joining SIRVA, Oberdorf held executive positions at several leading technology and business services companies. From 2008 to 2010, Oberdorf was CFO of Infogroup, a leading provider of innovative business data and marketing solutions for increasing customer acquisition and retention. From 2006 through 2008, Oberdorf was CFO of Getty Images, the world's leading creator and distributor of imagery, footage and multi-media products, as well as a provider of other forms of premium digital content.

Mr. Bossidy stated that, "Tom is an outstanding leader and will ensure SIRVA's continued success."

Mr. Oberdorf further shared, "I am excited for this new role and am honored to continue SIRVA's success in creating value for its customers, agents and shareholders. We have built a great platform for sustained growth and look forward to continuing to serve our customers with the highest of quality. This will result in increasing our market share, innovating in high value areas, expanding into new markets, enhancing our productivity and increasing our cash flow for shareholders."