Horizon Global Board of Directors Appoints Terrence G. Gohl as Chief Executive Officer
23 September 2019 - 11:00PM
Business Wire
Gohl also appointed to the Company’s Board of
Directors
Horizon Global Corporation (NYSE: HZN), the world’s leading
manufacturer of branded towing and trailering equipment, announced
today that the Company’s Board of Directors appointed Terrence G.
Gohl as Chief Executive Officer. Gohl has also been appointed to
Horizon Global’s Board, effective immediately. These appointments
follow the Board’s acceptance of Carl Bizon’s resignation from his
executive positions and as a director.
John C. Kennedy, Chair of Horizon Global’s Board of Directors,
stated, “We are pleased to announce Terry as Horizon Global’s Chief
Executive Officer. Terry brings decades of automotive industry
experience, as well as substantial operational and turnaround
expertise, which will help to further the Company’s business
improvement initiatives and accelerate its return to historical
performance levels.”
Kennedy continued, “We believe Terry is the right leader at the
right time. Terry will be able to draw upon his vast experience,
including as President and CEO of Key Plastics through its
successful turnaround. The Board looks forward to Terry’s immediate
contributions as he leads Horizon Global through its current
turnaround.”
Kennedy added, “As a Company, we remain committed to offering
best-in-class towing and trailering solutions to our customers and
maximizing the long-term value of the business to benefit our
shareholders, our employees and all of our stakeholders.”
Prior to joining Horizon Global, Gohl served as Chief Operating
Officer at International Automotive Components (IAC), a leading
global supplier of automotive components and systems. While at IAC,
Gohl was responsible for 50 manufacturing locations and 23
technical centers globally. Prior to his role at IAC, Gohl served
as President and CEO of Key Plastics, LLC, a supplier of injection
molded plastic components to automotive OEMs, where Gohl’s
strategic leadership and operational expertise were pivotal to its
restructuring and turnaround, resulting in substantial improvement
in financial performance and a successful sale of the business.
Gohl has previously held executive positions with multiple Tier 1
automotive suppliers, including Visteon Corporation, Tower
Automotive and Lear Corporation.
Kennedy commented, “We would like to thank Carl Bizon for his
leadership. As Horizon Global’s Chief Executive Officer, Carl led
the Company through the beginning stages of its turnaround. Carl
also played a key role in the recent sale of Horizon Global’s
Asia-Pacific (APAC) business, which was a success for Horizon
Global and its shareholders. Previously, as President of the APAC
business, Carl transformed the business from a small regional
player to the established market leader in Australia and New
Zealand.”
Kennedy concluded, “After years of service to Horizon Global and
its subsidiaries, Carl would now like to spend more time with his
family in Australia. We wish him well in his future endeavors.”
About Horizon Global
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 best-in-class
products for our customers, engage our employees and create value
for our shareholders. Horizon Global is home to some of the world’s
most recognized brands in the towing and trailering industry,
including: BULLDOG, Draw-Tite, Fulton, Reese, Tekonsha, and
Westfalia. Horizon Global has approximately 4,200 employees in 37
facilities across 15 countries. 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. These forward-looking statements can be
identified by the use of forward-looking words, such as “may,”
“could,” “should,” “estimate,” “project,” “forecast,” “intend,”
“expect,” “anticipate,” “believe,” “target,” “plan” or other
comparable words, or by discussions of strategy that may involve
risks and uncertainties. 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 Company’s ability to meet its covenants in the
agreements governing its debt, or obtain any amendments or waivers
thereto; the Company’s ability to successfully refinance all or a
portion of its secured debt; the Company’s ability to regain
compliance with the NYSE’s continued listing standards and maintain
such compliance; the Company’s leverage; liabilities imposed by the
Company’s debt instruments; market demand; competitive factors;
supply constraints; material and energy costs; 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 our Action Plan, including the actual amount of
savings and timing thereof; the success of our 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;
and other risks that are discussed in the Company’s most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q or
Current Reports on Form 8-K. The risks described herein 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/20190923005454/en/
Jeff Tryka, CFA Investor Relations (616) 295-2509
jtryka@horizonglobal.com
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