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Horizon Global Announces Appointment of Jian James Zhou as Chief Financial Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Horizon Global Corporation (NYSE: HZN) appointed Jian James Zhou as Chief Financial Officer, effective immediately. Zhou previously held CFO roles at Joyson Safety Systems and Tesla China, emphasizing his strong operational finance leadership. CEO Terry Gohl expressed confidence in Zhou's ability to enhance the company's turnaround efforts, leveraging his expertise in capital structure and business development. Zhou succeeds Dennis Richardville, who will transition to a consulting role post-10-Q filing for June 30, 2022. Horizon Global focuses on delivering value to shareholders and improving business operations.
Positive
Jian James Zhou's extensive experience in finance, particularly at Tesla China and Joyson Safety Systems, may accelerate company turnaround efforts.
Leadership transition aims to strengthen financial strategy and improve long-term shareholder value.
Negative
Change in CFO could lead to potential disruptions in financial continuity during the transition period.
PLYMOUTH, Mich.--(BUSINESS WIRE)--
Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, announced today that the Company’s Board of Directors appointed Jian James Zhou as Chief Financial Officer, effective immediately.
Mr. Zhou most recently served as executive vice president and chief financial officer for Joyson Safety Systems, a leading global supplier of mobility safety components and systems. Prior to joining Joyson, Mr. Zhou served as vice president and chief financial officer for Tesla China and supported Tesla’s successful entry into China’s electric vehicle market. Mr. Zhou previously served in divisional chief financial officer roles for Ingersoll Rand and General Electric.
Terry Gohl, Chief Executive Officer of Horizon Global, stated, “We look forward to James’s immediate contributions to Horizon Global. James brings tremendous global operational finance leadership across multiple industries, as well as substantial capital structure and business development expertise, which we expect to fully draw upon to accelerate our current turnaround efforts.”
Mr. Gohl continued, “With our iconic brands and deep customer relationships as a strong foundation, we remain laser focused on our business improvement initiatives, all of which are tied to long-term value creation for our shareholders. James is a great addition to a leadership team that is completely aligned in this regard.”
Mr. Zhou replaces Dennis Richardville, who is stepping down as the Company’s Chief Financial Officer. Mr. Richardville will remain with the Company as its principal financial officer through the filing of the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2022, following which Mr. Richardville will generally support the financial leadership transition in a consulting capacity.
“On behalf of Horizon Global, we would like to thank Dennis for his leadership in an unprecedented global business environment,” stated Mr. Gohl. “We greatly appreciate his continued support of Horizon Global and our global finance team.”
About Horizon Global
Headquartered in Plymouth, MI, Horizon Global is a leading 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 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 premium products for our customers, engage with our employees and realize value creation for our shareholders.
Horizon Global is home to some of the world’s most recognized brands in the towing and trailering industry, including: Draw-Tite, Reese, Westfalia, BULLDOG, Fulton and Tekonsha. Horizon Global has approximately 3,800 employees.
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 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 impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition and liquidity, including, without limitation, supply chain and logistics issues and inflationary pressures; liabilities and restrictions imposed by the Company’s debt instruments, including the Company’s ability to comply with the applicable financial covenants related thereto; market demand; competitive factors; supply constraints and shipping disruptions; material, logistics and energy costs, including the increased material costs resulting from the COVID-19 pandemic; inflation and deflation rates; 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 success of the Company’s action plan, including the actual amount of savings and timing thereof; the success of the Company’s 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; factors affecting the Company’s business that are outside of its control, including the impact of the conflict between Russia and Ukraine, natural disasters, pandemics, including the current COVID-19 pandemic, accidents and governmental actions; and other risks that are discussed in Part I, Item 1A, “Risk Factors.” in the Company’s Annual Report on Form 10-K for the twelve months ended December 31, 2021. The risks described in the Company’s Annual Report on Form 10-K 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.
