TITAN INTERNATIONAL, INC. (NYSE:TWI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On December 5, 2017, at a meeting of the Board of Directors ("Board") of Titan International, Inc. ("Titan" or the “Company”), the Board increased the size of the Board from seven directors to eight directors in accordance the Company's By-Laws, effective immediately, and, upon recommendation of the Nominating Committee of the Board, appointed Paul G. Reitz, Titan's President and Chief Executive Officer, as a member of the Board, effective December 5, 2017. Mr. Reitz's term on the Board, consistent with other members of the Board, will expire at the 2018 Annual Meeting of Stockholders. Mr. Reitz has not been appointed to serve as a member of any committee of the Board. Mr. Reitz was appointed to the Board due in large part to his vision and leadership along with his background and knowledge of the business.
Mr. Reitz, who is 45 years old, joined the Company in July 2010 as Chief Financial Officer. He was promoted to President in February 2014 and Chief Executive Officer effective January 2017. Prior to joining Titan, Mr. Reitz served as the Chief Accounting Officer for Carmike Cinemas based in Columbus, GA. Mr. Reitz has also held leadership positions with McLeodUSA Publishing, Yellow Book USA Inc., and Deloitte and Touche LLP. He has a Master's of Business Administration Degree from the University of Iowa and a Bachelor of Business Administration Degree from Northwood University.
Item 7.01 REGULATION FD DISCLOSURE.
On December 11, 2017, Titan issued a press release regarding Titan's 2018 business outlook, as well as the appointment of Mr. Reitz to serve on the Board.
The full text of the press release is furnished as Exhibit 99 to this report.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d)Exhibits
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Press release of Titan International, Inc. dated December 11, 2017. |
TITAN INTERNATIONAL INC ExhibitEX-99 2 a12112017pressrelaseex99.htm EXHIBIT 99 Exhibit Exhibit 99 Titan International,…To view the full exhibit click here
About TITAN INTERNATIONAL, INC. (NYSE:TWI)
Titan International, Inc. is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment. The Company’s earthmoving/construction market includes rims, wheels, tires and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military and construction equipment. The Company’s consumer market includes bias truck tires in Latin America and light truck tires in Russia, as well as products for all-terrain vehicles (ATVs).