Mill Road Capital secured a Board seat in Superior Industries International
Key Summary: On January 11, 2024, the company and Mill Road Capital entered a Cooperation Agreement, appointing Deven Petito to the board.Market Cap: $96 million | Superior Industries International, Inc. designs and manufactures aluminum road wheels for sale to original equipment manufacturers.
On January 11, 2024, the company and Mill Road CapitalĀ (15.7%) entered into a Cooperation Agreement. According to this Agreement, the company has committed to appoint Deven Petito (Mill Road Designee) to its board of directors. Source
Past
D.C Capital Advisors
On February 3, 2020, D.C. Capital (4.8%) expressed concerns about low stock price and nominated Raynard Benvenuti for the Board. On May 6, 2020, the company agreed to add D.C. Capital's nominee to the Board after the 2020 AGM.
Gamco
Gamco lost its battle for the three consecutive years (2013-2015). In 2016, it nominated board members. In 2020, it withdrew a nominee after the company reached an agreement with D.C. Capital Partners.