Superior Industries International, Inc. (NYSE:SUP) today
announced the appointment of Margaret S. Dano, the company’s lead
director, as chairman, succeeding Steven J. Borick, who is retiring from
the company’s day-to-day operations, including his role as chief
executive officer, effective March 31, 2014. Borick will remain on the
board of directors.
Superior also today announced it has named its two executive vice
presidents, Michael J. O’Rourke and Kerry A. Shiba, as interim co-CEOs,
while the board completes its search for a CEO successor to Borick, 61.
Dano, 54, has served on Superior Industries’ board since January 2007
and as its lead director since 2010. She has chaired Superior’s
nominating and corporate governance committee and served as a member of
the audit committee. Dano previously held senior management positions at
units of Honeywell International, Avery Dennison, Black and Decker and
General Electric.
“Steve Borick has been an outstanding leader at Superior and for the
automotive industry, serving as our CEO since 2005,” Dano said. “He has
been instrumental in building a strong foundation for our company, one
that will serve as a solid platform for the new leadership team. I am
pleased that Superior will continue to benefit from his guidance as a
continuing member of our board.”
O’Rourke, 53, joined Superior in 1987. He was named executive vice
president in 2008 and holds responsibility for the company’s marketing,
sales and operational functions. Shiba, 59, Superior’s chief financial
officer, joined the company in 2010. He was promoted to executive vice
president in 2012.
Superior said it is in the process of conducting interviews with
potential CEOs, as well as additional board candidates. In December
2013, Superior announced the appointment to the board of James S.
McElya, formerly chief executive officer and non-executive chairman of
Cooper-Standard Holdings, Inc., a publicly traded supplier to the
automotive industry. McElya currently is chairman of the board of
Affinia Group, a supplier of automotive aftermarket parts.
“Thanks to the dedication and hard work of our employees, I am retiring
at a time when Superior is healthy and postured for long-term growth,”
Borick said. “My decision was primarily based on a desire to have more
time for personal interests, including philanthropic activities. I wish
the company and everyone associated with it all the best.”
About Superior Industries
Superior is the largest manufacturer of aluminum wheels for passenger
cars and light-duty vehicles in North America. From its five plants in
both the U.S. and Mexico, the company supplies aluminum wheels to the
original equipment market. Major customers include Ford, General Motors,
Chrysler, BMW, Mitsubishi, Nissan, Subaru, Toyota, Volkswagen and Tesla.
For more information, visit www.supind.com.
Copyright Business Wire 2014