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Thursday, Mar 28, 2024
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Solera Bound for Texas

Solera Holdings Inc., a San Diego maker of software used in processing of auto insurance claims, said July 7 that it is moving its corporate headquarters to the Dallas area.

The company, which has 2,200 full-time employees, said the relocation will give it “a broader recruitment pool and better labor arbitrage, cost efficiencies, and improved mobility and access to our markets.”

Solera also announced that Renato Giger is its new chief financial officer, replacing Dudley Mendenhall. The latter’s separation from the company was not prompted by any regulatory issues nor is it related to Solera’s financial statement or other reporting requirements, Solera said.

Mendenhall’s employment continues to Aug. 15.

Solera said it made the change to better align its management team with its mission to reach $1 billion in annual revenue.

For its 2010 fiscal year third quarter ended March 31, Solera reported net income of $22.6 million on revenue of $162.5 million. It forecast annual revenue for the 2010 fiscal year ranging from $629 million to $632 million.

— Mike Allen

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