Motorcar Parts of America, Inc. (NASDAQ:MPAA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 20, 2020, the Board of Directors of Motorcar Parts of America (“MPA”) appointed current director, Jay Ferguson, 53, as the Lead Independent Director, effective immediately, taking over from Scott Adelson, who will continue as a Director of MPA.
Mr. Adelson’s change in role was his decision, and he had no disagreement with MPA precipitating this change.
Mr. Ferguson shall receive $20,000 in additional annual compensation as the Lead Independent Director.
The following exhibit is furnished with this Current Report:
MOTORCAR PARTS AMERICA INC Exhibit
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 NEWS RELEASE CONTACT: Gary S. Maier (310) 972-5124 MOTORCAR PARTS OF AMERICA REALIGNS BOARD RESPONSIBILITIES LOS ANGELES,…
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About Motorcar Parts of America, Inc. (NASDAQ:MPAA)
Motorcar Parts of America, Inc. is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs (OES). It recycles materials, including metal from the used cores and corrugated packaging. The Company carries over 13,000 stock keeping units (SKUs) for automotive parts that are sold under its customers’ recognized private label brand names and its Quality-Built, Pure Energy, Xtreme, Reliance and other brand names. It sells its products to automotive retail outlets and the professional repair market throughout the United States and Canada.
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