Horizon Global Names Jamie G. Pierson as Chief Financial Officer

TROY, Mich.–(BUSINESS WIRE)–Horizon Global Corporation (NYSE: HZN), one of the world’s leading
manufacturers of branded towing and trailering equipment, today
announced it has named Jamie G. Pierson as Chief Financial Officer,
effective Monday, June 10, 2019. Pierson will have responsibility for
the Company’s global finance function, including financial reporting,
tax, treasury, and financial planning and analysis.

Carl Bizon, President and Chief Executive Officer of Horizon Global,
commented, “We are pleased to welcome Jamie as Horizon Global’s new
Chief Financial Officer. He is the right financial leader at the right
time for Horizon Global, and we are excited to welcome Jamie to the
global team. Jamie’s background in financial leadership has him uniquely
positioned to make an immediate impact on our Company. His skill set
includes deep experience in business turnarounds, cash management, and
financial planning and analysis. Jamie’s public-company expertise
includes SEC reporting and investor relations. We have made considerable
progress in advancing our operational improvement initiatives over the
past 18 months, and the addition of a CFO with Jamie’s extensive
turnaround and operational experience will be essential to our overall
success.”

Prior to joining Horizon Global, Pierson served as CFO of PrimeSource
Building Products, Inc., one of the nation’s largest distributors of
building products. Prior to that, he was CFO of YRC Worldwide Inc., a
Fortune 500 company that is a leading provider of transportation and
global logistics services. While at YRC Worldwide, Pierson was
responsible for helping execute a multi-faceted operational turnaround
and refinancing. Prior to joining YRC Worldwide, he served as Managing
Director at Alvarez & Marsal, where he worked with multiple
organizations facing a broad range of operational and financial
challenges.

The Company also announced that Barry Steele, who had been serving as
CFO for Horizon Global since February 18, 2019, will be leaving the
Company for personal reasons.

Bizon concluded, “We would like to thank Barry for his efforts during
his tenure as CFO and wish him well in his future endeavors. As Jamie
fully transitions into his new role, we will look to immediately
leverage his unique skills and experience to execute against Horizon’s
ongoing business improvement initiatives. We also look forward to his
strategic collaboration with me, our Board and the rest of the
management team as we work to reduce the Company’s debt and improve our
operational performance over the next several quarters.”

About Horizon Global

Horizon Global is the #1 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,
Australia 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 best-in-class products for our customers, engage our
employees and create value for our shareholders. Horizon Global is home
to some of the world’s most recognized brands in the towing and
trailering industry, including: BULLDOG, Draw-Tite, Fulton, Hayman
Reese, Reese, ROLA, Tekonsha, and Westfalia. Horizon Global has
approximately 4,200 employees in 37 facilities across 18 countries. For
more information, please visit www.horizonglobal.com.

Forward-Looking Statements

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 can be identified by the use of
forward-looking words, such as “may,” “could,” “should,” “estimate,”
“project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,”
“target,” “plan” or other comparable words, or by discussions of
strategy that may involve risks and uncertainties. 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 Company’s ability to regain compliance with the
NYSE’s continued listing standards and maintain such compliance; the
Company’s leverage and its ability to reduce its debt; liabilities
imposed by the Company’s debt instruments; the Company’s ability to meet
its covenants in the agreements governing its debt, including the
requirement to reduce its first lien term loan, or obtain any amendments
or waivers thereto; market demand; competitive factors; supply
constraints; material and energy costs; 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 spin-off from TriMas
Corporation; the success of our Action Plan, including the actual amount
of savings and timing thereof; the success of our 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; and other
risks that are discussed in the Company’s most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q or Current Reports on Form
8-K. The risks described herein 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.

Contacts

Christi Cowdin
Director, Corporate Communications & Investor
Relations
(248) 593-8810
[email protected]

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