The board of directors for Horizon Global Corp., a leading supplier of branded towing and trailering equipment, today (May 8) announced that it appointed Carl Bizon to serve as interim president and chief executive officer, effective immediately.

According to a press release, the move is designed to “build on Horizon Global’s solid foundation and increase profitability for long-term sustainable growth.” The appointment follows the board’s acceptance of Mark Zeffiro’s resignation from his executive positions and as a director. The board will immediately begin a search to identify a permanent CEO with the assistance of a leading executive recruiting firm.

Related to this announcement, Horizon Global has adjourned its 2018 annual meeting of stockholders previously scheduled for today. The adjourned annual meeting will reconvene on May 15 at 8 a.m. (EDT).

Board Chairman Denise Ilitch stated, “Horizon Global is an industry leader, providing towing and trailering solutions to some of the world’s best-known automotive manufacturers, distributors and retailers. The board concluded that this is the right time to bring in a leader who can rapidly advance the company’s progress, building on our established strengths and intensifying the organization’s focus on execution of our targeted action plan now underway across the company.

“Carl has extensive knowledge of our products, customers and suppliers, as well as the overall industry. His experience running each of our three divisions, coupled with a long track record of achievement in manufacturing and operations, make him an excellent fit to lead Horizon Global during this period. Under his leadership, we are confident that the company will continue to make progress, improving efficiency and productivity and reinforcing the broad appeal of our successful brands in key geographies worldwide, to drive improved profitability and increased value for our shareholders.”

Ilitch concluded, “We thank Mark for his many contributions to Horizon Global over the past several years. We wish him well in his future endeavors.”

Bizon joined Horizon Global in January 2018 as president of Horizon Americas. Prior to Horizon Global’s spin-off from its former parent company, TriMas Corp., Bizon led its international businesses from 2008 to 2015, including both Europe-Africa and Asia-Pacific. Before rejoining the company, Bizon served as CEO at Jayco Corp., Australia’s largest manufacturer of camper trailers, caravans and motorhomes.

In a related move, James Tindell will become interim president of Horizon Americas in addition to his role as divisional finance Officer. Tindell has worked closely with Bizon to develop and implement the restructuring of the company’s North American operations. Tindell has over 15 years of experience with large, multinational companies such as Black & Decker, Newell Brands, PPG Industries, and Principal Financial Group.