Superior Industries Announces Proxy Access Amendment to Bylaws and Appointment of Ellen Richstone to its
Board of Directors
Superior Industries International, Inc. (NYSE:SUP), the largest manufacturer of aluminum wheels for passenger cars and
light-duty vehicles in North America, today announced that its Board of Directors has amended the Company's by-laws to implement
“proxy access”, reflecting its ongoing commitment to corporate governance best practices. The Company also announced the
appointment of Ellen Richstone to its Board of Directors, effective immediately.
Proxy Access
“The Board of Directors has been reviewing proxy access as part of its ongoing consideration of corporate governance best
practices,” said Don Stebbins, President, Chief Executive Officer and Director of the Company. “In 2016, we included a non-binding
proposal on proxy access that received majority support at our annual meeting of stockholders. After thoughtful dialogue and input
from some of our largest stockholders, our Board has decided to adopt a proxy access framework that we believe best serves our
Company and our stockholders.”
The amended by-laws allow a stockholder or group of no more than 20 stockholders that has maintained continuous ownership of
three percent or more of Superior’s common stock for at least three years to include in Superior’s proxy materials for an annual
meeting of stockholders a number of director nominees up to 20 percent of the directors then in office, provided that the
stockholder(s) and the stockholder nominees(s) satisfy the requirements specified in the amended by-laws.
Proxy access will be available in connection with the 2017 annual meeting of stockholders.
Director Appointment
Commenting on the appointment of Ellen Richstone to the Board of Directors of Superior, Mr. Stebbins said, “Ellen is an
outstanding addition to our Board, bringing broad industry perspective and leadership experience as a seasoned executive and board
member. We are very pleased to add her significant finance, strategic planning, M&A expertise, and truly global perspective to
our Board. I am confident that her contributions will be extremely beneficial to Superior as we continue our business
transformation.”
Ms. Richstone has served in a number of leadership roles, including Chief Financial Officer of several public and private
companies, including Rohr Aerospace, a Fortune 500 company, President and Chief Executive Office of the Entrepreneurial Resources
Group and the financial expert on the Board of Directors of American Power Conversion, an S&P 500 company. Ms. Richstone
currently serves on the Boards of Directors of eMagin Corporation, Bioamber, and Parnell Pharmaceuticals. She also sits on the
Board of the National Association of Corporate Directors (NACD) in New England, as well as other non-profit organizations.
Ms. Richstone graduated from Scripps College in Claremont, California and the Fletcher School of Law and Diplomacy at Tufts
University, completed the Advance Professional Certificate in Finance at New York University’s Graduate School of Business and
earned an Executive Master’s Certification in Director Governance from the American College of Corporate Directors.
Ms. Richstone’s appointment increases the size of the Board to nine directors, eight of whom are classified as independent of
the Company.
About Superior Industries
Headquartered in Southfield, Michigan, Superior is the largest manufacturer of aluminum wheels for passenger cars and light-duty
vehicles in North America. From its plants in the U.S. and Mexico, the company supplies aluminum wheels to the original equipment
market. Major customers include BMW, FCA, Ford, General Motors, Mazda, Nissan, Subaru, Tesla, Toyota and Volkswagen. For more
information, visit www.supind.com.
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Investor Relations Line:
(248) 234-7104
or
Superior Industries
Troy Ford
www.supind.com
or
FTI Consulting
Effie Veres, (212) 850-5676
effie.veres@fticonsulting.com
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