Central Announces Retirement of Emanuel Eads, CEO

NASHVILLE, Tenn.–Central Parking Corporation (Central Parking) announced today the retirement of Emanuel Eads from his position as President and Chief Executive Officer. Eads joined Central Parking in 1974 and has served as President and Chief Executive Officer since 2005. His retirement marks the conclusion of a transition plan Eads devised with Central Parking’s owners – Kohlberg & Company, Versa Capital and Lubert-Adler, at the time of their purchase of Central Parking in May 2007. Eads stated, “More than just the major part of my career, Central Parking has been an important part of my life, and I retire taking great pride in the accomplishments we have achieved and the culture we have fostered over that period. The dedication and enthusiasm of Central Parking’s employees is unmatched, and I am pleased that the Company is so strongly positioned to continue its renowned history of client responsiveness, customer service and industry leadership.”

Jonathan P. Ward, Chairman of Central Parking added, “On behalf of the Board of Directors of Central Parking, I wish to thank Emanuel Eads for his distinguished service to the Company. Emanuel set the highest standard of integrity in leading the Company through a period of record expansion. Emanuel balanced commitments to clients, customers, employees and shareholders while stewarding Central Parking seamlessly through the ownership change. We appreciate his generosity in transitioning the Company through the initial phase of the shareholders’ ownership period, and wish him all the best with his future plans.”

Central Parking’s Board of Directors also announced effective today the election of James A. Marcum to the position of President, Chief Executive Officer and a member of the Board. Marcum was most recently the Vice Chairman and Chief Executive Officer of Circuit City Stores, Inc. a $12.0 billion in revenues chain of electronics stores. In addition, Marcum has significant national chain experience through senior executive positions held with Ultimate Electronics, Inc., Hollywood Entertainment, Stage Stores, Inc. and Melville Corporation. Marcum stated, “I am pleased to be joining Central Parking and to help continue its tradition of excellence and build on its myriad of opportunities for strategic growth, expansion and marketing opportunities.” Ward commented, “Central Parking is fortunate to have an executive of Jim’s caliber to continue the high standards of Emanuel’s leadership and guide the Company through its next phase of development. We look forward with confidence to his role in furthering Central Parking’s position as an industry leader.”