Horizon Global Expands Board of Directors

Towing and trailering equipment manufacturer Horizon Global Corp. has unanimously approved significant changes to its Board of Director’s composition and leadership. The changes are meant to fulfill certain obligations related to the company’s recently completed $51 million second lien term loan.

Horizon Global Board has appointment of six new independent directors, including Frederick “Fritz” Henderson, John Kennedy, Ryan Langdon, Brett Milgrim, Mark Weber, and Harry Wilson, effective immediately. The board also announced the appointment of John Kennedy as chair, effective immediately.

Additionally, the Board announced the retirement of four directors, Richard DeVore, Scott Kunselman, Richard Siebert, and Maximiliane Straub, effective immediately. Carl Bizon, Denise Ilitch, and David Roberts will continue to serve as directors of Horizon Global.

With these announced changes, the board expands its membership to nine directors, eight of whom are independent.

The new members collectively bring extensive leadership experience, including operational and turnaround expertise, according to the company. Additionally, several of the new board members are meaningful shareholders of the company, which significantly enhances the board’s alignment with all shareholders of Horizon Global.

“Horizon Global participated in a thoughtful process to name the six new directors, including constructive engagement with shareholders and other stakeholders,” said Carl Bizon, president and CEO of Horizon Global. “These new appointments demonstrate the Board’s ongoing commitment to ensuring the Company drives improved performance across our operations and delivers value for our shareholders.”

“I want to express sincere gratitude to the Board, including the directors who are retiring from the board, for their service to Horizon Global through its spin-off from TriMas Corp. and the important actions taken in the past year,” said Denise Ilitch. “John Kennedy’s broad and relevant leadership experience makes him an excellent choice to serve as Board Chair, and I look forward to working with him and the rest of the Board to move Horizon Global forward.”

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