Horizon Global Corporation (NYSE: HZN), manufacturers of branded towing and trailering equipment, announced that Barry Steele has been named the Company’s Chief Financial Officer, effective Feb. 18, 2019.
Steele will have responsibility for the Company’s global finance function including financial reporting, tax, treasury, and financial planning and analysis. Steele will be joining Horizon Global from his role as Chief Financial Officer at Gentherm Incorporated, a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications for the automotive and medical markets.
Commenting on Steele’s new role with the Company, Carl Bizon, Horizon Global’s President and Chief Executive Officer, stated, “After a comprehensive search conducted with the support of the Company’s Board of Directors, we are pleased that Barry Steele is joining Horizon Global as its Chief Financial Officer. Barry is a seasoned financial executive, with well-rounded and relevant experience helping lead companies in the automotive industry.
“As a proven leader, Barry’s ability to execute, his focus on financial leadership, and ability to drive operational excellence are expected to have an immediate impact on our business. I look forward to working closely with him and the rest of our global leaders to drive operational and financial performance improvement in the Americas and Europe-Africa to deliver shareholder value.”
Prior to joining Horizon Global and in addition to Steele’s CFO role at Gentherm Incorporated, he also served in a number of financial roles, including the role of Chief Financial Officer, at Advanced Accessory Systems, LLC, which was a leading global supplier of cargo management and towing systems to the automotive OEM and aftermarket. Steele is a Certified Public Accountant who began his career with Price Waterhouse LLP.
The Company also announced that Brian Whittman, a Managing Director of Alvarez & Marsal North America, LLC, who has been serving as interim CFO for Horizon Global since November 9, 2018, will continue to serve in that capacity until Steele joins the Company. After stepping down as interim CFO, Whittman will hold the title of Vice President, Finance through the filing of Horizon Global's 10-K.
Bizon concluded, “Horizon Global is a company with strong brands and great products that have a diverse customer base and broad global footprint supported by a team of approximately 4,300 dedicated global employees. The addition of Barry Steele to our management team is another important step forward in advancing the Company’s progress towards driving operational improvements and improving our overall financial performance. We have the right team and the right brands serving our customers across multiple channels of distribution. With a strong focus on execution, we intend to drive the profitability of this business and deliver value for our shareholders.”