TriMas Announces Update to Board of Directors

TriMas (NASDAQ: TRS) today announced the planned retirement of Samuel Valenti III as Chairman of its Board of Directors, effective at the Company’s Annual Meeting of Shareholders in May 2024. In connection with this announcement, the Company also announced that the Board of Directors has selected Herbert K. Parker as Chair Elect, who will serve as the Chair of the Board of Directors effective immediately after TriMas’ 2024 Annual Meeting of Shareholders.

“As I retire from my role as TriMas’ Chairman of the Board, I reflect with gratitude on the remarkable journey we have traveled together,” Valenti said. “It has been a privilege to work alongside dedicated colleagues and witness the growth and success of our organization. I am confident in the capable hands that will continue to lead us into the future, and I look forward to the continued prosperity of TriMas.”

Mr. Valenti has served as TriMas’ Chairman of the Board since 2002, bringing more than 50 years of business leadership, and financial and corporate development experience. In addition to his role at TriMas, he also serves as Chair and Chief Executive Officer of Valenti Capital, and had a distinguished career at Masco Corporation from 1968 through 2008, including as President of Masco Capital Corporation. During Mr. Valenti’s tenure at Masco, he was credited with the original formation of TriMas, which culminated in bringing businesses together from three separate companies followed by an initial public offering in 1989. In addition to his time at Masco, Mr. Valenti served as Chairman of the Investment Advisory Board of the $100 billion State of Michigan retirement system and spearheaded the State's initial investments in private equity and venture capital. Mr. Valenti served on the Harvard Business School Advisory Council and currently serves on the advisory council at the University of Notre Dame and the advisory board at the University of Michigan Business School Zell-Lurie Institute. He is also an independent lead director of American Axle & Manufacturing, a member of Business Leaders for Michigan and serves as chair of the Renaissance Venture Capital Fund. As an important member of the Detroit community, Mr. Valenti has also been the recipient of Crain’s M&A Lifetime Achievement Award, and a two-time recipient of Crain’s Newsmaker of the Year Award.