Superior Industries International, Inc., one of the world’s leading aluminum wheel suppliers, announced recently the company will appoint Raynard Benvenuti to its board of directors immediately following the company’s 2020 Annual Meeting of Stockholders, but no later than July 10. With the addition of Benvenuti, the board will be comprised of 10 directors, nine of whom are independent. The company also announced that D.C. Capital Partners, L.P. has withdrawn its director nomination for the 2020 Annual Meeting.
Tim McQuay, chairman of the board of Superior, commented, “We are pleased to welcome Ray to Superior’s board. As an additional independent director with operational, industrial and financial experience, we believe Ray will be a strong addition to the board and we look forward to promptly beginning his onboarding and working with him.”
Douglas Dethy, managing director and founder of D.C. Capital Partners, L.P., stated, “We appreciate the constructive engagement and dialogue we have had with Superior’s senior management team and board. With the appointment of Ray, we will continue to work collaboratively with Superior as we pursue our common goal of enhancing value for shareholders.”
Benvenuti is the founder of Concord Investment Partners, an investment and advisory firm focused on making private and public investments in aerospace, automotive and industrial companies. Previously, Benvenuti served as a managing partner and an operational practice leader for the aerospace and automotive/truck sectors at Greenbriar Equity Group. Benvenuti has held various board seats and was recently appointed to the board of NN, Inc., a NASDAQ-traded industrial manufacturer of high-precision metal and plastic components and assemblies.
