Avoca, Pa. — Guardian Warranty Corporation (Guardian or GWC) announced that John Stultz will be stepping down as president and CEO and that Joan Saunders will become the chief executive officer of the company. Saunders is a seasoned warranty industry executive with 18 years of experience from CNA National Warranty.

From 2002 to 2005, Saunders served as the president and CEO of CNA National Warranty Corporation, an independent provider of service contracts. Prior to serving as CEO, Saunders was the executive vice president of CNA National Warranty, overseeing the operations of the business and leading several initiatives to increase responsiveness in claims processing, expand the product offering and improve service to dealers.

Stultz expressed his support for the change, saying, “After over a decade of commitment, I am proud to say that Guardian remains ‘Simply the Best’ company in the industry. I have no doubt that I am leaving GWC in capable hands and that the company will continue to deliver its dealers the level of service and quality F&I products they have come to expect from Guardian.”

Scott Schwartz, a representative from CIVC Partners, the majority shareholder in Guardian, went on to say, “We appreciate the contributions John has made to Guardian over the years, and we value the assistance he has provided in the transition to new management. He has built an industry-leading company and we plan to continue Guardian’s tradition of excellence.”

GWC’s Preferred Provider status and long-time relationships with the National Independent Automobile Dealers Association (NIADA) and the many state independent dealer associations will be unchanged under new management.

Until Saunders begins as CEO on March 18, 2008, Schwartz will serve as the Interim CEO.