MT. LAUREL, N.J. – ARI, Automotive Resources International announces the promotion of finance officials Ken Herr and Brian Horwith.
Mr. Herr (left), with ARI for 20 years, has been appointed vice president of global treasury. In this newly created role, he is responsible for the strategy and management of treasury operations and funding for all ARI businesses in the United States, Canada, Mexico and Europe. He continues to oversee the relationships with financial institutions and investors.
Mr. Horwith (right), a former banker who joined ARI in 2007, assumes Mr. Herr’s previous role of treasurer. As treasurer, Mr. Horwith manages the liquidity and capital needs for ARI’s businesses and oversees the firm’s interest rate risk management.
“Both Ken and Brian were instrumental in building on ARI’s strong and stable capital base, early in 2010 with our first Term ABS securities offering and more recently raising $1 billion in the syndicated bank market,” says Brian Bates, chief financial officer for ARI. “Much of our financial success, despite the economic challenges during the past few years, is due to Ken and Brian’s ability to secure considerable financing for our businesses.”