Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
OnNovember 21, 2022 , the Board of Directors of the Company (the "Board") electedJohn C. Kennedy as the Company's Interim President and Chief Executive Officer, effective immediately. In connection with his appointment as Interim President and Chief Executive Officer,Mr. Kennedy will continue to serve as Chair of the Board.Mr. Kennedy , age 64 was appointed to the Board inApril 2019 , and has served as Chair of the Board since his appointment.Mr. Kennedy is currently 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 ofAutocam Corporation , which he founded in 1988 and later sold in 2014.Mr. Kennedy is currently the board co-chair ofLacks Enterprises, Inc. , aMichigan -based privately held company providing complex, highly decorated components and systems for the exterior automotive trim market, and has been a board member since 2004.Mr. Kennedy is also a board member of theVan Andel Institute , aMichigan -based nonprofit biomedical research and science education organization, since 2003;Shape Corporation , a full-service, tier-one automotive and industrial component supplier since 2014; and Business Leaders forMichigan , a nonprofit organization for business leaders that is focused on strategy, policy and business initiatives to driveMichigan's economic growth. Outside of the business world,Mr. Kennedy dedicates a significant amount of time to improving education.Mr. Kennedy is a founding board member ofGrand Rapids University Preparatory Academy , a public education school located inGrand Rapids, Michigan , since 2008, and has served on multiple education commissions for theState of Michigan . For his service as Interim President and Chief Executive Officer,Mr. Kennedy will be entitled to receive a monthly cash payment of$134,000 .Mr. Kennedy will not receive any additional compensation for his service on the Board while he is acting as Interim President and Chief Executive Officer.
Item 7.01 Regulation FD Disclosure.
OnNovember 21, 2022 , the Company issued a press release announcing the appointment ofMr. Kennedy and the resignation ofMr. Gohl . A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The press release is also available on the Corporation's website at www.horizonglobal.com. The information in this Item 7.01 on Form 8-K (including Exhibit 99.1) is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are furnished herewith:
Exhibit No. Description 99.1 Press Release dated November 21 , 2022 104 Cover Page Interactive Data File (embedded
within the Inline XBRL document)
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