Martinrea International Inc. Announces Terry Lyons as a New Director
January 31 2014 - 7:00AM
Marketwired
Martinrea International Inc. Announces Terry Lyons as a New
Director
TORONTO, ONTARIO--(Marketwired - Jan 31, 2014) - Martinrea
International Inc. (TSX:MRE) ("Martinrea" or the "Company") is
pleased to announce that Terry Lyons has joined its board of
directors effective February 1, 2014. He has also become a member
of Martinrea's Corporate Governance and Nominating Committee.
Mr. Lyons has over 39 years of experience in the development,
financing and management of natural resource, manufacturing, real
estate and merchant banking companies. He is a member of the
Institute of Corporate Directors and sits on the British Columbia
ICD Board. Mr. Lyons currently serves as the lead independent
director and chairman of the Audit Committee of Canaccord Genuity
Group Inc. (TSX:CF), as well as a director of Canaccord's
subsidiaries in the U.K., U.S., Canada, Australia and Asia. He is
also a director and chairman of Sprott Resource Corp. (TSX:SCP) and
a director and chairman of Polaris Minerals Corporation (TSX:PLS).
Mr. Lyons is past chairman of Northgate Minerals Corporation, which
was acquired by Aurico Gold creating a new mid-cap gold company
with a value of over $2.5 billion, and Eacom Timber Corporation
recently sold to a private equity firm for $300 million.
Rob Wildeboer, Martinrea's executive chairman, stated: "We
welcome Terry Lyons to our board. He brings vast operational,
financial and governance experience and we are confident that he
will add tremendous value to our board and committee."
The Company also announced that Suleiman Rashid, a long standing
director of the Company, had indicated that he would be retiring
from the board at the Company's next annual general meeting of
shareholders. Mr. Rashid, the chair of the Audit Committee of
Martinrea's board, will continue to serve through the Company's
year-end audit until that meeting.
Wildeboer added: "We thank Suleiman Rashid for his tremendous
efforts and dedication to us over the years. Sul has seen the
company increase its revenues a thousand fold since he joined as a
director, and his guidance and integrity have been invaluable. He
indicated last year this would be his last before retirement as a
director, and we will miss him in that role."
The Company remains committed to effective governance that
results in good corporate performance. At the 2013 annual
shareholders meeting, six directors were elected to the board,
including a new director, Scott Balfour. In its most recent
quarterly call, the Company indicated that it plans to add two
additional independent directors with
automotive/industrial/business and financial/governance experience.
With Mr. Lyons' appointment and Mr. Rashid's impending retirement,
the Company will continue to look for an additional two independent
directors to join the board.
About Martinrea International Inc.
Martinrea International Inc. (TSX:MRE) is a leader in the
production of quality steel and aluminum metal parts, assemblies
and modules and fluid management systems focused primarily on the
automotive sector. Operating 38 plants in North America, South
America, Europe and Asia, the Company is a Tier One supplier,
serving vehicle manufacturers, automotive suppliers and other
industrial sectors worldwide. For more information visit our
website at www.martinrea.com.
Martinrea International Inc.Rob WildeboerExecutive Chairman(416)
749-0314(289) 982-3001www.martinrea.com
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