Gentherm Announces New Independent Director
January 11 2021 - 7:00AM
Gentherm (NASDAQ: THRM), a global market leader and developer of
innovative thermal management technologies, today announced that
Betsy Meter has been appointed to the Company’s Board of Directors
effective January 8, 2021.
Meter served as Managing Partner, Michigan at KPMG LLP, a global
firm that provides audit, tax and advisory services, from February
2018 until her retirement in December 2020. In this role, she led
the strategic direction and growth of KPMG’s Detroit and Grand
Rapids offices. She also served as the Partner-in-Charge of Audit
for Michigan from 2013 to 2017, in addition to her role as an Audit
Partner for 24 years where she gained extensive experience with
operational, accounting, reporting and internal control issues,
focused on Automotive OEMs and suppliers. Meter currently serves on
the Board of Directors for VSP Global, Automotive Hall of Fame, and
is the Chairwoman of Oakland Family Services, Inc. She is a former
board member of the Detroit Economic Club, Detroit Regional
Chamber, Downtown Detroit Partnership, and the former chairperson
of the Michigan Association of CPA’s.
“It is our pleasure to welcome Betsy to Gentherm’s Board of
Directors,” said Ronald Hundzinski, Chair of the Company’s Board.
“Betsy brings deep technical accounting expertise across multiple
industries that will be a valuable asset to Gentherm’s Board. As
Managing Partner for KPMG Michigan, she was an accounting change
leader who delivered exceptional value to the clients she
served.”
“Betsy’s strategic mindset, strong track record of advising
global companies and her vast network within the automotive
community will help us strengthen shareholder value as we execute
on our Focused Growth strategy,” said Phil Eyler, President and CEO
of Gentherm. “I am proud that Betsy will become our third female
Board member, where her passion for advancing diversity, equity and
inclusion will bring a unique perspective to our Board of
Directors.”
Meter holds a bachelor’s degree in Accounting from Michigan
State University. She is a Certified Public Accountant (CPA) and
received an Honorary Doctor of Law degree from Walsh College.
Investor ContactYijing Brentano,
Gentherminvestors@gentherm.com 248.308.1702
Media ContactsMelissa Fischer,
Genthermmedia@gentherm.com 248.289.9702
About GenthermGentherm (NASDAQ:THRM)
is a global developer and marketer of innovative thermal management
technologies for a broad range of heating and cooling and
temperature control applications. Automotive products include
variable temperature Climate Control Seats, heated automotive
interior systems (including heated seats, steering wheels, armrests
and other components), battery thermal management systems, cable
systems and other electronic devices. Medical products include
patient temperature management systems. The Company is also
developing a number of new technologies and products that will help
enable improvements to existing products and to create new product
applications for existing and new markets. Gentherm has
over 11,000 employees in facilities in the United States,
Germany, Canada, China, Hungary, Japan, South Korea, North
Macedonia, Malta, Mexico, United
Kingdom, Ukraine, and Vietnam. For more information, go
to www.gentherm.com.
Except for historical information contained herein, statements
in this release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
represent Gentherm Incorporated's goals, beliefs, plans and
expectations about its prospects for the future and other future
events. The forward-looking statements included in this release are
made as of the date hereof or as of the date specified herein and
are based on management's reasonable expectations and beliefs. Such
statements are subject to a number of important assumptions, risks,
uncertainties and other factors that may cause actual results or
performance to differ materially from that described in or
indicated by the forward-looking statements. Those risks include,
but are not limited to, risks that COVID-19 pandemic and its direct
and indirect adverse impacts have, and will continue to have, an
adverse effect on, among other things, the Company’s results of
operations, financial condition, cash flows, liquidity, business
operations and stock price; the Company’s failure to be in
compliance with covenants under its debt agreements due to COVID-19
or otherwise could result in an event of default thereunder;
additional financing may not be available, if needed; declines in
automobile production may have an adverse impact; sales may not
increase; new competitors may arise or customers may develop their
own products to replace the Company’s products; new products may
not be feasible; currency exchange rates may change unfavorably;
pricing pressures from customers may increase; and other adverse
conditions in the industries in which the Company operates may
negatively affect its results. The foregoing risks should be read
in conjunction with the Company's most recent Annual Report on Form
10-K and subsequent reports filed with the Securities and Exchange
Commission. Except as required by law, the Company expressly
disclaims any obligation or undertaking to update any
forward-looking statements to reflect any change in its
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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