Dorman Announces the Appointment of J. Darrell Thomas to its Board Of Directors

Rhea-AI Summary

Dorman Products, Inc. (NASDAQ:DORM) appointed J. Darrell Thomas as an independent director effective October 30, 2021. This expands the Board to nine directors, with seven being independent. Thomas, who is Vice President and Treasurer at Harley-Davidson, brings extensive corporate finance and risk management experience to the Board. His prior roles include Interim CFO at Harley-Davidson and positions at PepsiCo and in banking. CEO Kevin Olsen highlighted the value Thomas will add to Dorman through his expertise in capital markets and investor relations.

Positive

• Appointment of J. Darrell Thomas as independent director adds valuable corporate finance expertise.
• Expansion of the Board to nine directors enhances governance and decision-making.

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• None.

COLMAR, Pa., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (the “Company”) (NASDAQ:DORM) today announced that J. Darrell Thomas has been appointed as an independent director to the Company’s Board of Directors, effective October 30, 2021. Mr. Thomas’ appointment expands the Board to nine directors, seven of whom are independent directors. Mr. Thomas will be a member of the Company’s Audit, Compensation and Corporate Governance and Nominating committees.

Mr. Thomas currently serves as Vice President and Treasurer for Harley-Davidson, Inc. (NYSE:HOG), which he joined in June 2010. During his tenure at Harley-Davidson, he also has served in several other senior finance positions, including Interim Chief Financial Officer for Harley-Davidson and Chief Financial Officer for Harley-Davidson Financial Services, Inc. Prior to joining Harley-Davidson, Mr. Thomas was employed by PepsiCo, Inc., where he most recently served as Vice President and Assistant Treasurer. Prior to joining PepsiCo, Mr. Thomas had a 19-year career in banking with Commerzbank Securities, Swiss Re New Markets, ABN Amro Bank and Citicorp/Citibank where he held various capital markets and corporate finance roles. Mr. Thomas currently serves as a member of the board of directors of British American Tobacco p.l.c. (NYSE:BTI).

Mr. Kevin Olsen, the Company’s President and Chief Executive Officer, said: “We are excited to welcome Darrell to our Board of Directors. Darrell’s extensive global experience in corporate finance, capital markets, risk management and investor relations will be of significant benefit to Dorman. We appreciate his willingness to serve as a director and look forward to benefiting from his experience and judgment.”

Investor Relations Contact
David Hession, SVP and Chief Financial Officer
dhession@dormanproducts.com
(215) 997-1800

About Dorman Products

At Dorman, we give repair professionals and vehicle owners greater freedom to fix cars and trucks by focusing on solutions first. For over 100 years, we have been one of the automotive aftermarket’s pioneering problem solvers, releasing tens of thousands of replacement products engineered to save time and money and increase convenience and reliability.

Founded and headquartered in the United States, we are a global organization offering more than 81,000 distinct parts, covering both light duty and heavy-duty vehicles, from chassis to body, from underhood to undercar, and from hardware to complex electronics. See our full offering and learn more at DormanProducts.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors (many of which are outside of our control) which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. For additional information concerning factors that could cause actual results to differ materially from the information contained in this press release, please see Dorman’s prior press releases and filings with the U.S. Securities and Exchange Commission (“SEC”), including Dorman’s most recent annual report on Form 10-K and its subsequent SEC filings. Dorman is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

Visit Dorman’s website at www.dormanproducts.com. The Investor Relations section of the website contains a significant amount of information about Dorman, including financial and other information for investors. Dorman encourages investors to visit its website to view new and updated information.

 

FAQ

Who is J. Darrell Thomas, and what is his role at Dorman Products?

J. Darrell Thomas has been appointed as an independent director on Dorman Products' Board, effective October 30, 2021.

What experience does J. Darrell Thomas bring to Dorman Products?

Thomas has extensive experience in corporate finance and risk management, previously serving as Vice President and Treasurer at Harley-Davidson.

How many directors are on Dorman Product's Board after Thomas's appointment?

After the appointment of J. Darrell Thomas, the Board of Dorman Products now has nine directors, with seven being independent.

What committees will J. Darrell Thomas serve on at Dorman Products?

Thomas will be a member of the Audit, Compensation, and Corporate Governance and Nominating committees.

When was the announcement of J. Darrell Thomas's appointment made?

The appointment was announced on November 2, 2021.