Horizon Global Announces Fritz Henderson Not Standing for Board Reelection
April 01 2022 - 4:30PM
Business Wire
Donna M. Costello appointed Audit Committee
Chair
Horizon Global Corporation (NYSE: HZN), the world’s leading
manufacturer of branded towing and trailering equipment, previously
announced that Frederick A. (Fritz) Henderson, currently a director
on the Company’s Board, with a term expiring at the Company’s 2022
annual stockholder meeting (“2022 Annual Meeting”), will not stand
for reelection at the 2022 Annual Meeting. Mr. Henderson served as
Chair of the Board’s Audit Committee. The Board appointed Donna M.
Costello as Chair of the Audit Committee, effective
immediately.
“On behalf of the Horizon Global Board, I would like to thank
Fritz for his leadership,” stated John Kennedy, Chair of the Board
of Horizon Global. “Fritz’s strategic guidance has been essential
at both the Board and Audit Committee levels. We are grateful for
his many contributions to Horizon Global. We would also like to
thank Donna for stepping into her new role as Audit Committee Chair
and we look forward to Donna’s immediate impact and
leadership.”
Mr. Henderson commented, “I strongly believe in Horizon Global’s
CEO Terry Gohl and his leadership team, supported by a Board that
has consistently rolled up its sleeves to provide guidance during
my tenure. I want to thank John Kennedy for his leadership of the
Board since we began serving together in April 2019. It has been an
honor to serve on the Horizon Global Board and I look forward to
supporting Donna in her new leadership role.”
Mr. Henderson was appointed to the Company’s Board and as Chair
of its Audit Committee in 2019. Mr. Henderson was recently named
lead director of Marriot International, Inc. and also serves as
chair of the boards of Adient, PLC and Arconic Corporation.
Ms. Costello was appointed to the Company’s Board and as a
Member of its Audit Committee in June 2021. Ms. Costello serves on
the boards of CTS Corporation and Neenah, Inc. Ms. Costello serves
as chair of Neenah’s audit committee.
About Horizon Global
Headquartered in Plymouth, MI, Horizon Global is the #1
designer, manufacturer and distributor of a wide variety of
high-quality, custom-engineered towing, trailering, cargo
management and other related accessory products in North America
and Europe. The Company serves OEMs, retailers, dealer networks and
the end consumer as the category leader in the automotive, leisure
and agricultural market segments. Horizon provides its customers
with outstanding products and services that reflect the Company's
commitment to market leadership, innovation and operational
excellence. The Company’s mission is to utilize forward-thinking
technology to develop and deliver premium products for our
customers, engage with our employees and realize value creation for
our shareholders.
Horizon Global is home to some of the world’s most recognized
brands in the towing and trailering industry, including: Draw-Tite,
Reese, Westfalia, BULLDOG, Fulton and Tekonsha. Horizon Global has
approximately 3,800 employees.
For more information, please visit www.horizonglobal.com.
Forward-Looking
Statements
This release contains “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements contained herein speak only as of the
date they are made and give our current expectations or forecasts
of future events. Forward-looking statements speak only as of the
date they are made and give our current expectations or forecasts
of future events. These forward-looking statements are subject to
numerous assumptions, risks and uncertainties which could
materially affect our business, financial condition or future
results including, but not limited to, risks and uncertainties with
respect to: the impact of the COVID-19 pandemic on the Company’s
business, results of operations, financial condition and liquidity,
including, without limitation, supply chain and logistics issues
and inflationary pressures; liabilities and restrictions imposed by
the Company’s debt instruments, including the Company’s ability to
comply with the applicable financial covenants related thereto;
market demand; competitive factors; supply constraints and shipping
disruptions; material, logistics and energy costs, including the
increased material costs resulting from the COVID-19 pandemic;
inflation and deflation rates; technology factors; litigation;
government and regulatory actions including the impact of any
tariffs, quotas, or surcharges; the Company’s accounting policies;
future trends; general economic and currency conditions; various
conditions specific to the Company’s business and industry; the
success of the Company’s action plan, including the actual amount
of savings and timing thereof; the success of the Company’s
business improvement initiatives in Europe-Africa, including the
amount of savings and timing thereof; the Company’s exposure to
product liability claims from customers and end users, and the
costs associated therewith; factors affecting the Company’s
business that are outside of its control, including the impact of
the conflict between Russia and Ukraine, natural disasters,
pandemics, including the current COVID-19 pandemic, accidents and
governmental actions; and other risks that are discussed in Part I,
Item 1A, “Risk Factors.” in the Company’s Annual Report on Form
10-K for the twelve months ended December 31, 2021. The risks
described in the Company’s Annual Report on Form 10-K are not the
only risks facing our Company. Additional risks and uncertainties
not currently known to us or that we currently deemed to be
immaterial also may materially adversely affect our business,
financial position and results of operations or cash flows. We
caution readers not to place undue reliance on such statements,
which speak only as of the date hereof. We do not undertake any
obligation to review or confirm analysts’ expectations or estimates
or to release publicly any revisions to any forward-looking
statement to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20220401005466/en/
Jeff Tryka, CFA Investor Relations, Lambert & Co. (616)
295-2509 jtryka@horizonglobal.com
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