Horizon Global Announces Expansion of Its Board of Directors

Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced its Board of Directors has unanimously approved significant changes to its Board composition and leadership to fulfill certain obligations related to the Company’s recently completed $51 million second lien term loan.

Today, the Horizon Global Board announced the 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 Board members collectively bring extensive leadership experience, including operational and turnaround expertise. 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," commented Carl Bizon, President and Chief Executive Officer 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.”

Commented Denise Ilitch, “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 Corporation and the important actions taken in the past year. 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.”

Biographies

John C. Kennedy

John Kennedy is currently the President and Chief Executive Officer of Autocam Medical, a privately held contract manufacturer of precision-machined implants and instruments for surgical applications, which he founded in 2005. Mr. Kennedy previously served as the President and Chief Executive Officer of Autocam Corporation, which he founded in 1988. John and his team built Autocam Corporation into a global automotive supplier and sold the company in 2014. He currently serves on the boards of the Van Andel Institute, Shape Corporation, Lacks Enterprises, West Michigan Policy Forum, and Business Leaders for Michigan.