Horizon Global Corporation (NYSE:HZN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On December 9, 2019, Jamie G. Pierson, the Chief Financial Officer of Horizon Global Corporation (the “Company”), notified the Company that he was resigning, effective December 13, 2019, and would be accepting a position with another company.

On December 12, 2019, the Company appointed Richard J. Jok as interim Chief Financial Officer of the Company, effective December 13, 2019, or such earlier date that Mr. Pierson ceases to serve as Chief Financial Officer of the Company.

Mr. Jok, age 62, has served as the Company’s Vice President, Financial Planning and Analysis, since August 2019. Prior to joining the Company, Mr. Jok served as the Chief Financial Officer of OE Automotive Group, LLC, a wholly owned subsidiary of Crowne Group, LLC, an automotive supplier of formed metal tubing and precision plastic components (“Crowne Group”), from March 2016 to February 2018. In February 2018, Crowne Group spun off OE Automotive Group, LLC to form Vari-Form Group, LLC (“Vari-Form”). Mr. Jok served as Chief Financial Officer of Vari-Form from February 2018 to May 2018. Previously, Mr. Jok was employed by Nexteer Automotive Corporation, an automotive steering and driveline supplier, in positions of increasing responsibility from January 2003 to January 2015, ultimately serving as its Chief Financial Officer, Saginaw Division, from March 2011 to January 2015.

Mr. Jok’s compensation did not change in connection with his appointment as interim Chief Financial Officer. Mr. Jok will continue to: (i) receive his salary at his current annual base rate of $210,000; (ii) be eligible to receive an annual short-term cash incentive award based on the performance of the Company, which is targeted at 30% of his base salary for 2019; and (iii) be eligible to receive an annual long-term incentive award under the Company’s Amended and Restated Equity and Incentive Compensation Plan, which has a target value of 30% of his base salary for 2019. To the extent required, the Company will file an amendment to this Current Report on Form 8-K disclosing any material change to Mr. Jok’s compensation in connection with his appointment.

On December 12, 2019, the Company appointed Matthew J. Meyer as Chief Accounting Officer of the Company, effective December 13, 2019.

Prior to joining the Company, Mr. Meyer, age 38, served as Corporate Controller for Joyson Safety Systems, a global leader in mobility safety providing safety-critical components, systems and technology to automotive and non-automotive markets, from December 2015 to November 2018. From January 2015 to December 2015, Meyer served as Director, Accounting and Reporting for Federal-Mogul Holdings Corporation, a developer, manufacturer and supplier of products for automotive, commercial, aerospace, marine, rail and off-road vehicles; and industrial, agricultural and power-generation applications (“Federal-Mogul”). Prior to his position with Federal-Mogul, from September 2011 to January 2015, Mr. Meyer served in a variety of management positions of increasing responsibility, ultimately serving as Compliance Director for Kelly Services Inc., a global leader in providing workforce solutions, including outsourcing and consulting services. Meyer also served in a variety of positions leading up to an Audit Manager position with KPMG, LLP, a global network of professional firms providing audit, tax and advisory services, from January 2007 to September 2011.

Mr. Meyer’s compensation did not change in connection with his appointment as Chief Accounting Officer. Mr. Meyer will continue to: (i) receive his salary at his current annual base rate of $225,000; (ii) be eligible to receive an annual short-term cash incentive award based on the performance of the Company, which is targeted at 30% of his base salary for 2019; and (iii) be eligible to receive an annual long-term incentive award under the Company’s Amended and Restated Equity and Incentive Compensation Plan, which has a target value of 20% of his base salary for 2019. To the extent required, the Company will file an amendment to this Current Report on Form 8-K disclosing any material change to Mr. Meyer’s compensation in connection with his appointment.

About Horizon Global Corporation (NYSE:HZN)

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other related accessory products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through two segments: Cequent Americas and Cequent APEA. The Cequent Americas segment consists of two operating segments: Cequent Performance Products (CPP), a manufacturer of aftermarket and original equipment manufacturer (OEM) towing and trailering products and accessories, and Cequent Consumer Products (CCP), a provider of towing, trailering, vehicle protection and cargo management solutions serving the end user through retailers. The Cequent Americas segment has operates in North America, and its towing and trailering-related products are sold through retail, aftermarket and OE channels. The Cequent APEA segment focuses its sales and manufacturing efforts outside of the Americas, operating in Australia.