Business
Motorcar Parts of America Intends to Nominate Jack Liebau to Stand for Election to Its Board
Nominee Offers Investor and Public Company Director Perspective and Extensive Automotive Aftermarket Experience LOS ANGELES--(BUSINESS WIRE)-- Motorcar Parts
About this update from Strattec Security Corporation
[{"type":"text","content":"\nNominee Offers Investor and Public Company Director Perspective and Extensive Automotive Aftermarket Experience\n\n\n LOS ANGELES--(BUSINESS WIRE)--\nMotorcar Parts of America, Inc. (Nasdaq:MPAA) today announced that its board of directors intends to nominate F. Jack Liebau, Jr. to stand for election to the company’s board at the company’s 2024 annual meeting of shareholders, in furtherance of the board’s commitment to refreshment.\n\n\nMr. Liebau is an accomplished investor and public company director. He has nearly 40 years of experience investing in public companies for leading institutional asset managers, including Primecap Management Company, The Capital Group, Davis Funds and Roundwood Asset Management, where he served as the firm’s president and chief executive officer. Mr. Liebau also has significant public company director experience. He currently serves as chairman of the board of two publicly traded automotive products companies, Myers Industries, Inc. (NYSE: MYE) and Strattec Security Corp. (Nasdaq: STRT), and previously served on the board of The Pep Boys—Manny, Moe & Jack (formerly NYSE: PBY), a nationwide auto parts retailer. Mr. Liebau has been nominated or recommended by shareholders to serve on these and other boards and possesses a valuable institutional investor perspective.\n\n\n“Jack’s experience as a director of other automotive aftermarket companies will enable him to provide valuable insights as Motorcar Parts of America continues to execute its strategic growth plans,” said Selwyn H. Joffe, chairman, president and chief executive officer of Motorcar Parts of America. “Equally important, as a former portfolio manager and securities analyst, Jack has a keen understanding of the mindset of institutional investors and an appreciation for how companies can drive long-term shareholder value. We are looking forward to nominating Jack to the board and to benefiting from his expertise.”\n\n\n“We appreciate the shareholder feedback we have received with regard to identifying and evaluating potential director candidates during our refreshment process,” added Barbara L. Whittaker, independent director and chair of the board’s Nominating and Governance Committee. “This process is ongoing, and we expect to report further developments in the coming weeks and months. We continue to welcome shareholder perspectives a...