Motorcar Parts of America Reassigns Operational Responsibilities
May 10 2017 - 8:00AM
Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it
has reassigned the responsibilities of the chief operating officer
position to enhance efficiency, technological innovation and new
product line introductions.
Steve Kratz, who served as chief operating officer,
has been appointed to the newly created position of vice president,
new technologies. The chief operating officer position will
be divided into two categories: under-the-hood and under-the-car
product lines.
Doug Schooner, currently chief manufacturing
officer, will also serve as senior vice president, operations for
the under-the-car product lines.
Bryan Cain, who most recently served as senior vice
president of supply chain, has assumed the position as senior vice
president, operations for rotating electrical.
“We greatly appreciate Steve’s contributions as
chief operating officer and look forward to benefiting from his
role focusing on new technologies,” said Selwyn Joffe, chairman,
president and chief executive officer.
“The organizational changes noted above are
intended to augment our customer-centric focus and enable the
company to further distinguish itself as a leading supplier to the
automotive aftermarket. We have a dynamic team of executives,
and our ability to embrace change and innovate is truly impressive.
Our entire organization is committed to growth and enhancing
shareholder value, and we all look forward to continued success,”
Joffe said.
In addition to the changes noted above, the company
announced the appointment of Jack Vollbrecht as senior vice
president, strategy and government relations -- a newly created
position. His primary responsibilities include assisting with
developing ongoing business strategies and coordinating the
company’s government affairs outreach activities at the federal,
state and local levels; and, identifying proactive legislative
opportunities and related activities to support the company’s
business interests within the automotive aftermarket sector.
An industry veteran, Vollbrecht most recently
served as senior vice president, business development and
government relations for Remy International, Inc. He previously
served as president and chief executive officer of Unit Parts
Company, which was acquired by Remy in 2005. He earned a
Bachelor of Science degree in mathematics and business economics
from Duke University.
Commenting on the appointment of Jack Vollbrecht,
Joffe added: “Jack offers a wealth of unique automotive aftermarket
experience that will be invaluable to the company as we continue to
execute on our strategic growth plans – including organic growth,
product line expansion and acquisitions. We look forward to
benefiting from Jack’s advice and counsel at an exciting time in
the company’s evolution.”
About Motorcar Parts of America
Motorcar Parts of America, Inc. is a
remanufacturer, manufacturer and distributor of automotive
aftermarket parts -- including alternators, starters, wheel hub
assembly and brake master cylinder products utilized in imported
and domestic passenger vehicles, light trucks and heavy duty
applications. Motorcar Parts of America’s products are sold to
automotive retail outlets and the professional repair market
throughout the United States and Canada, with facilities located in
California, Mexico, Malaysia and China, and administrative offices
located in California, Tennessee, Mexico, Singapore, Malaysia and
Toronto. Additional information is available at
www.motorcarparts.com.
Forward-Looking StatementsThe
Private Securities Litigation Reform Act of 1995 provides a “safe
harbor” for certain forward-looking statements. The statements
contained in this press release that are not historical facts are
forward-looking statements based on the company’s current
expectations and beliefs concerning future developments and their
potential effects on the company. These forward-looking statements
involve significant risks and uncertainties (some of which are
beyond the control of the company) and are subject to change based
upon various factors. Reference is also made to the Risk
Factors set forth in the company’s Form 10-K Annual Report filed
with the Securities and Exchange Commission (SEC) in June 2016 and
in its Forms 10-Q filed with the SEC for additional risks and
uncertainties facing the company. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as the result of new information, future events
or otherwise.
CONTACT:
Gary S. Maier
Maier & Company, Inc.
(310) 471-1288
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