VAN NUYS, Calif.--(BUSINESS WIRE)--Superior Industries International, Inc. (NYSE:SUP), the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America, today announced that the three leading independent proxy advisory firms—ISS Proxy Advisory Services, Glass, Lewis & Co., and Egan-Jones—each have recommended that Superior shareholders vote the WHITE proxy card FOR all four of Superior’s director nominees at the Company’s 2014 Annual Meeting of Shareholders, to be held on August 15, 2014.
On August 4, 2014, Egan-Jones joined ISS and Glass, Lewis, recommending Superior shareholders vote the WHITE proxy card FOR all Superior nominees – Paul J. Humphries, James S. McElya, Donald J. Stebbins and Francisco S. Uranga. Egan-Jones based its recommendation on the following factors:
- its “belief that the Company has instituted significant, very promising changes, in particular its extremely recent appointment of new, highly qualified CEO Don Stebbins, as well as declassification of its Board, the addition of three new directors within the past three years, and the separation of the roles of CEO and Chairman. We strongly believe that Mr. Stebbins and the Board should be permitted to execute their current plans;”
- its “belief that the dissidents have failed to make a persuasive case that their joining the Board would work toward maximizing shareholder value;” and
- its concern that the election of the dissidents’ slate to the Board of Directors would not work to the benefit of all shareholders.
Commenting on now receiving the recommendation of all three leading independent proxy advisory firms that shareholders vote on the WHITE proxy card FOR the Board’s experienced and highly qualified nominees, Superior issued the following statement: “We are very pleased that all three of the leading independent, third-party proxy advisory firms, have carefully reviewed the voting alternatives and recommended that shareholders vote for all four of Superior's director nominees. As we have stated consistently, we believe there are very real and stark differences between the Superior Board’s nominees—who have the integrity, knowledge, breadth of experience and commitment necessary to navigate Superior through the highly competitive global business environment and create long-term shareholder value—and GAMCO’s nominees, who have no experience whatsoever working in the automotive industry.”
Superior shareholders are reminded that their vote is extremely important, no matter how many or how few shares they own. The Company urges shareholders to vote for all four of its highly qualified and experienced director-nominees – Paul J. Humphries, James S. McElya, Donald J. Stebbins and Francisco S. Uranga – on the WHITE proxy card today.
Shareholders may vote by returning the WHITE proxy card or by phone or Internet by following the instructions on the WHITE proxy card they have received. Shareholders are urged to discard any blue proxy card or voting instruction card they may have received from GAMCO Asset Management, Inc. Even a WITHHOLD vote with respect to GAMCO’s nominees on its blue proxy card will cancel any proxy previously given to Superior. If a shareholder previously signed a blue proxy card sent by GAMCO, that proxy card can be revoked by voting a new WHITE proxy card for the Board’s recommended nominees. Only the latest-dated proxy will count.
TIME IS SHORT!
YOUR VOTE IS IMPORTANT!
Remember, you can vote your shares by telephone or via the Internet. Please follow the easy instructions on the enclosed WHITE proxy card.
If you have any questions or need assistance in voting your shares, please contact our proxy solicitor:
MacKenzie Partners, Inc.
105 Madison Avenue
New York, New York 10016
(212) 929-5500 (Call Collect)
Call Toll-Free (800) 322-2885
About Superior Industries
Superior is the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America. From its five plants in both the U.S. and Mexico, the company supplies aluminum wheels to the original equipment market. Major customers include BMW, Chrysler, Ford, General Motors, Mitsubishi, Nissan, Subaru, Tesla, Toyota and Volkswagen. For more information, visit www.supind.com.
Important Additional Information And Where To Find It
Superior Industries, its directors and certain of its executive officers are deemed to be participants in the solicitation of proxies from Superior shareholders in connection with the matters to be considered at Superior’s 2014 Annual Meeting. On July 7, 2014, Superior filed a definitive proxy statement (as it may be amended, the “Proxy Statement”) and definitive form of WHITE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with such solicitation of proxies from Superior’s shareholders. INVESTORS AND SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, THE ACCOMPANYING WHITE PROXY CARD AND OTHER DOCUMENTS FILED BY SUPERIOR WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Additional information regarding the identity of participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the Proxy Statement, including Appendix A thereto. Shareholders can obtain the Proxy Statement, any amendments or supplements to the Proxy Statement and other documents filed by Superior with the SEC for no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Investor Relations section of our corporate website at www.supind.com, by writing to Superior's Corporate Secretary at 7800 Woodley Avenue, Van Nuys, CA 91406, by calling Superior at (818) 781-4973, or by contacting Superior's proxy solicitor, MacKenzie Partners, Inc., toll free at 1-800-322-2885.