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Standard Motor Says President And CEO Eric Sills To Succeed Lawrence Sills As Chairman Of Board
(RTTNews) - Automotive parts manufacturer Standard Motor Products, Inc. (SMP) announced Wednesday changes in the composition of its Board of Directors. Effective at the end of their current terms, in May of 2023, Lawrence Sills, Chairman of the Board, and William Turner, Presiding Independent Director, will each assume the role of Director Emeritus.
Concurrently, Eric Sills, Chief Executive Officer and President, will succeed Lawrence Sills as Chairman of the Board, Alisa Norris, currently Chair of the Compensation and Management Development Committee, will succeed Turner as Presiding Independent Director, and Pamela Puryear, will succeed Norris as Chair of that committee.
Finally, effective December 15, 2022, James Burke will join the Board of Directors while remaining in his current position of Chief Operating Officer.
To accommodate these changes, the Board of Directors has voted to temporarily increase the size of the Board from nine to ten, effective December 15, 2022, and to reduce it from ten to eight in May 2023 upon the move of Sills and Turner to Directors Emeritus. At that point, the Board will consist of six independent and two non-independent directors.
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