TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced it has named Jamie G. Pierson as Chief Financial Officer, effective Monday, June 10, 2019. Pierson will have responsibility for the Company’s global finance function, including financial reporting, tax, treasury, and financial planning and analysis.
Carl Bizon, President and Chief Executive Officer of Horizon Global, commented, “We are pleased to welcome Jamie as Horizon Global’s new Chief Financial Officer. He is the right financial leader at the right time for Horizon Global, and we are excited to welcome Jamie to the global team. Jamie’s background in financial leadership has him uniquely positioned to make an immediate impact on our Company. His skill set includes deep experience in business turnarounds, cash management, and financial planning and analysis. Jamie's public-company expertise includes SEC reporting and investor relations. We have made considerable progress in advancing our operational improvement initiatives over the past 18 months, and the addition of a CFO with Jamie’s extensive turnaround and operational experience will be essential to our overall success.”
Prior to joining Horizon Global, Pierson served as CFO of PrimeSource Building Products, Inc., one of the nation’s largest distributors of building products. Prior to that, he was CFO of YRC Worldwide Inc., a Fortune 500 company that is a leading provider of transportation and global logistics services. While at YRC Worldwide, Pierson was responsible for helping execute a multi-faceted operational turnaround and refinancing. Prior to joining YRC Worldwide, he served as Managing Director at Alvarez & Marsal, where he worked with multiple organizations facing a broad range of operational and financial challenges.
The Company also announced that Barry Steele, who had been serving as CFO for Horizon Global since February 18, 2019, will be leaving the Company for personal reasons.
Bizon concluded, “We would like to thank Barry for his efforts during his tenure as CFO and wish him well in his future endeavors. As Jamie fully transitions into his new role, we will look to immediately leverage his unique skills and experience to execute against Horizon’s ongoing business improvement initiatives. We also look forward to his strategic collaboration with me, our Board and the rest of the management team as we work to reduce the Company’s debt and improve our operational performance over the next several quarters.”
About Horizon Global
Horizon Global is the #1 designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America, Australia and Europe. The Company serves OEMs, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon provides its customers with outstanding products and services that reflect the Company's commitment to market leadership, innovation and operational excellence. The Company’s mission is to utilize forward-thinking technology to develop and deliver best-in-class products for our customers, engage our employees and create value for our shareholders. Horizon Global is home to some of the world’s most recognized brands in the towing and trailering industry, including: BULLDOG, Draw-Tite, Fulton, Hayman Reese, Reese, ROLA, Tekonsha, and Westfalia. Horizon Global has approximately 4,200 employees in 37 facilities across 18 countries. For more information, please visit www.horizonglobal.com.
This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained herein speak only as of the date they are made and give our current expectations or forecasts of future events. These forward-looking statements can be identified by the use of forward-looking words, such as “may,” “could,” “should,” “estimate,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “target,” “plan” or other comparable words, or by discussions of strategy that may involve risks and uncertainties. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which could materially affect our business, financial condition or future results including, but not limited to, risks and uncertainties with respect to: the Company’s ability to regain compliance with the NYSE’s continued listing standards and maintain such compliance; the Company’s leverage and its ability to reduce its debt; liabilities imposed by the Company’s debt instruments; the Company’s ability to meet its covenants in the agreements governing its debt, including the requirement to reduce its first lien term loan, or obtain any amendments or waivers thereto; market demand; competitive factors; supply constraints; material and energy costs; technology factors; litigation; government and regulatory actions, including the impact of any tariffs, quotas or surcharges; the Company’s accounting policies; future trends; general economic and currency conditions; various conditions specific to the Company’s business and industry; the spin-off from TriMas Corporation; the success of our Action Plan, including the actual amount of savings and timing thereof; the success of our business improvement initiatives in Europe-Africa, including the amount of savings and timing thereof; the Company's exposure to product liability claims from customers and end users, and the costs associated therewith; and other risks that are discussed in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The risks described herein are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. We caution readers not to place undue reliance on such statements, which speak only as of the date hereof. We do not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.