Midas Elects Alan Feldman President and Chief Executive Officer

    ITASCA, Ill.--Jan. 13, 2003--The board of directors of Midas, Inc. has elected Alan Feldman to serve as president and chief executive officer, effective immediately. He also has been elected to the board.
    Feldman, 50, joins Midas after nearly 20 years in the food and restaurant industries. He held senior management posts at McDonald's Corporation from 1994 through March 2002. He became president of McDonald's USA in 1998, and president and chief operating officer of McDonald's Americas in 2001.
    "We are fortunate that Alan Feldman will bring his many years of successful experience in consumer branding, franchising and growing markets to the Midas system as the company focuses on execution of our business strategies going forward," said Robert R. Schoeberl, Midas' chairman. "His solid knowledge of franchising will be extremely valuable as we grow the Midas franchise business."
    "I am proud and extremely excited about joining Midas," Feldman said. "I look forward to working together with the Midas system's dedicated franchisees to grow the business by building on the great strength of the Midas brand," Feldman said.
    Feldman succeeds Gary B. Vonk, who had been serving as president and acting chief executive since September 2002, when former chairman and chief executive officer Wendel H. Province resigned. After a transition period, Vonk, 49, who joined Midas in early 2001 as executive vice president and chief operating officer, will leave the company.
    Schoeberl, 66, will continue as non-executive chairman.
    Feldman was at PepsiCo from 1983 to 1994. He was director of strategic planning and corporate accounting at Frito-Lay and later moved to the Pizza Hut unit, where he served in financial and operations posts. He was named senior vice president of operations for Pizza Hut in 1990 and senior vice president, business strategy and chief financial officer in 1993.
    He previously held posts at Cidair Structures Corporation and A.T. Kearney.
    Feldman holds a bachelor of arts degree in marketing and a master of business administration degree from the University of Illinois.

    Midas is one of the world's largest providers of automotive service, offering exhaust, brake, steering and suspension services, as well as batteries, climate control and maintenance services at 2,700 franchised, licensed and company-owned Midas shops in 19 countries, including nearly 2,000 in the United States and Canada.