Martinrea International Inc. Announces Director Appointments
11 März 2014 - 12:00PM
Marketwired
Martinrea International Inc. Announces Director Appointments
TORONTO, ONTARIO--(Marketwired - Mar 11, 2014) - Martinrea
International Inc. (TSX:MRE) is pleased to announce that Frank
Macher and Roman Doroniuk have joined its board of directors,
effective March 10, 2014. Mr. Macher is presently the Chairman and
CEO of Continental Structural Plastics, a market leader in
composite and plastic products for the automotive industry. Mr.
Doroniuk currently operates a consulting business providing
financial and strategic advisory services to a variety of
industries.
Rob Wildeboer, Martinrea's executive chairman, stated: "We
welcome both Frank and Roman to our board. Mr. Macher is a leading
figure in the auto parts industry with extensive international
experience, which will assist Martinrea as we continue to improve
our operations and global reach. Mr. Doroniuk is an experienced
businessman and strategic thinker with outstanding financial
acumen. Both bring vast operational, financial and governance
experience to our board and we are confident they will add
tremendous value."
Mr. Macher is an expert in strategic and business planning,
advanced technologies, product development and manufacturing, and
is a recognized leader in the automotive supplier industry with a
career spanning over 45 years. Previously, he has served as
President and CEO of Collins & Aikman, Chairman and CEO of
Federal Mogul Corporation, and President and CEO of ITT Automotive,
all multi-billion dollar automotive parts companies. Earlier in his
career he spent 30 years at Ford Motor Company, holding a variety
of increasingly senior executive positions, including Vice
President of the Automotive Components Group (an $11 billion
operation and predecessor to Visteon), Director of Corporate
Quality, Chief Engineer - Interiors, and General Manager of two
divisions. He has overseen global operations, including the
establishment of multiple joint ventures in China. He has been a
board member of multiple companies, including Mazda Corporation,
Federal Mogul, Decoma, Collins & Aikman and Tenneco
Corporation. He has also served on the MIT Leaders for
Manufacturing Board and Stanford Industrial Manufacturing
Advisors.
Mr. Doroniuk is a Chartered Accountant with 30 years of business
experience and is a recognized expert in restructurings.
Previously, he has served as Chief Operating Officer of Magna
Entertainment, Executive Vice President, Strategic Planning of
Magna International, President and Chief Operating Officer of Lions
Gate Entertainment and Chief Financial Officer of Alliance
Communications, among other executive positions. He presently
serves as a director of several corporations, including Aimia Inc.,
where he also serves as Audit Committee Chair. His previous board
positions include The Forzani Group, Canadian Airlines Corporation,
Lions Gate Entertainment and Peoples Jewellers.
The Company also announced that Zoran Arandjelovic, a long
standing director of the Company, has resigned from the board. Mr.
Arandjelovic is in the process of establishing a new public company
and will devote his efforts to the building of that business
enterprise.
Wildeboer added: "We thank Zoran for his efforts and dedication
to us over the years. He has been and remains supportive of the
direction of the Company and of our team as a stakeholder. Mr.
Arandjelovic has been a source of tremendous strength in our
boardroom, with a direct and honest approach to issues. He is a
wonderfully talented person, whose guidance has been invaluable. We
will miss him and wish him the best in his future endeavours."
The Company is committed to effective governance that results in
good corporate performance. The Company indicated a year ago that
it would be adding independent directors to its board over time. At
the 2013 annual shareholders meeting, six directors were elected to
the board, including a new director, Scott Balfour. Since that
time, the Company asked several major shareholders for suggestions
on director candidates; these and others were reviewed by the
Board's nominating committee. In February 2014, Terry Lyons joined
the board, and the Company indicated that it intended to add an
additional two independent directors to the board, which it has
done with the appointments of Mr. Macher and Mr. Doroniuk.
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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