Titan International, Inc. Elects a Director and Officers
QUINCY, Ill., June 9, 2015 /PRNewswire/ -- Titan International, Inc. (NYSE: TWI) held its annual meeting of stockholders June 4, 2015.
At Titan's annual meeting, Anthony L. Soave was elected by the stockholders to serve as director for a three-year term. Titan stockholders voted to ratify Grant Thornton LLP as the independent registered public accounting firm for 2015. Stockholders also approved the reincorporation of the Company from the state of Illinois to the state of Delaware.
Titan shareholders approved a non-binding advisory resolution on executive compensation and approved a stockholder proposal to declassify the Company's Board of Directors.
Titan's Board of Directors held a Board meeting on this date and re-elected Maurice M. Taylor Jr. as chairman and chief executive officer (CEO), Paul G. Reitz as president, John Hrudicka as chief financial officer (CFO) and Michael G. Troyanovich as secretary.
CEO and chairman, Maurice Taylor comments, "Titan gave tours to those shareholders who wished to see the facility and see the new mobile reactor. This reactor is three-quarters the size of the reactors to be delivered to the oil sands. Though smaller, the results are the same as the full size reactors which reclaim carbon black, steel and light and heavy oils. The shareholders also got a chance to look at an LSW display of tires and wheels and witness the difference between LSW and the traditional assemblies.
"This past shareholder meeting was the first meeting that veteran board member Mr. Bill Billig was not present. Mr. Billig was president of Masco Industries in 1990 and supported my buyout of Titan. Words cannot express my appreciation for the years of advice Mr. Billig gave me as well as the wisdom and strength he exhibited through Titan's growth and the strike of 1998 through 2001. I, along with every board member, wish Bill and his wonderful wife, Betty, a great and healthy retirement. If I can stay as active as Bill, I can be around for another 15 years. That would be an old Grizz! I think they call that a silver-nosed Grizz and they are even more ferocious."
Titan International, Inc. (NYSE: TWI), a holding company, owns subsidiaries that supply wheels, tires, assemblies and undercarriage product for off-highway equipment used in agricultural, earthmoving/construction and consumer applications. For more information, visit www.titan-intl.com.
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SOURCE Titan International, Inc.
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