Indianapolis, (PRWEB) July 20, 2005
The former executive vice president and chief financial officer for Anthem, Inc., Michael L. Smith, has been elected to the Board of Managers of Indianapolis-headquartered LDI Ltd., LLC.
ÂMike brings years of experience and expertise to our Board that will help expand our abilities to bring new products and services to our customers,Â said AndrÃ© B. Lacy, LDI chairman and chief executive officer. Smith serves on the board of FinishMaster, Inc, and will continue in both capacities, said Lacy.
LDI Ltd. is a holding company that focuses on the distribution industry. LDIÂs portfolio includes publicly-traded FinishMasterÂ, Inc. (Pink Sheets:FMST). FinishMaster is the largest national distributor of automotive paints, coatings and related accessories for the collision repair industry. The other component of the LDI portfolio is Tucker Rocky Distributing, a leading wholesale distributor of aftermarket parts, apparel and accessories for motorcycle, personal watercraft, all-terrain vehicle and snowmobile enthusiasts.
Before his retirement from Anthem in 2005, Smith was responsible for accounting, reporting and overall financial, tax and investment management of Anthem. He was the co-executive sponsor of AnthemÂs $4 billion initial public offering in 2001, when Anthem executed one of the largest IPOs in the history of the New York Stock Exchange. His retirement followed the merger of Anthem and WellPoint Health Networks, Inc.
Prior to joining Anthem, Smith was chairman, president and chief executive officer of Mayflower Group, Inc. from 1989 to 1995.
Mayflower operated a worldwide relocation service and provided school and public passenger transportation in 30 states. He held other management positions at Mayflower from 1974 1989. He started his business career in the Indianapolis office of Arthur Andersen & Co. Smith graduated from DePauw University in 1970.
Smith Serves the Community
Smith has served as a Director of several charitable and civic organizations and is currently serving as a Director for the Legacy Fund of Hamilton County. He is a member of the Board of Trustees of DePauw University, the Michigan Maritime Museum and the Park Tudor School Trust. His prior community service includes leadership roles with the Indianapolis Symphony, the ChildrenÂs Museum of Indianapolis, the Family Support Center, St. VincentÂs Hospital Foundation, the Eiteljorg Museum and Crossroads Rehabilitation Center.
LDI is Indianapolis Business Tradition
LDI is a Forbes ranked holding company with roots going back to 1912, when the founders created a corrugated shipping container manufacturing company. The U.S. Corrugated-Fiber Box Company grew to become the second largest non-integrated company of its type.
In the early 1970's, company executives sought opportunities to expand into related industries. Lacy Diversified Industries, Inc. was formed to become a national management, investment holding company. In the 1980's, LDI made a strategic decision to concentrate on wholesale distribution. As the company evolved, it sold U.S. Corrugated in 1984 and began acquiring distribution companies in a variety of industries, including motorcycle parts, apparel and accessories, and automotive paints.