Superior Industries CEO to Retire
Van Nuys, Calif.-based Superior Industries is losing its CEO.
Monday, the automobile wheel manufacturer announced that Chairman and Chief Executive Officer Steven J. Borick intends to retire from the company on March 31. Afterward, he will remain Chairman of Superior, a post he's held since 2007. He has been CEO since 2005.
In the press release, Borick, 61, cited "a number of factors, primarily a desire to have more time for personal interests, including philanthropic activities" as explanation for his plans to retire. As of this writing, Superior shares are down only a small fraction of a percent, and in line with broader market declines.
Superior says it has already initiated a search for Borick's successor.
The article Superior Industries CEO to Retire originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.