Tecumseh Products Company Announces Expansion of its Board of Directors and
Appointment of Douglas M. Suliman, Jr. and Gary L. Cowger to its Board of
ANN ARBOR, Mich., June 21, 2013
ANN ARBOR, Mich., June 21, 2013 /PRNewswire/ -- Tecumseh Products Company
(Nasdaq: TECUA/TECUB), a leading global manufacturer of compressors and
related products,announced today that it has expanded its board of directors
from five to seven directors and that Douglas M. Suliman, Jr. and Gary L.
Cowger have been named to its board of directors to fill the newly created
vacancies effective June19, 2013.
"We are delighted to welcome Doug and Gary," said Zachary Savas, member of the
Tecumseh board. "We believe their experience and expertise will be tremendous
assets to the board and to the company."
Mr. Suliman is a private investor and since February2011 has served as
President of Breton Capital Management, LLC, a special situation private
equity investment management firm. Mr.Suliman has also served since February
2011 as the Managing Member of Breton Funding SE, LLC, which has majority
control of SmartEquip, Inc., an e-commerce network service provider for global
equipment manufacturers and their large mobile equipment fleet customers.
From February2006 until December2009, Mr.Suliman was Managing Member of NR
Investments, LLC, a special purpose entity formed to invest in creditor
claims. From June2003 until August2006, he served as Co-Chairman and
Executive Director of NationsRent, Inc., a construction equipment rental
company. Mr.Suliman is currently a member of the Trust Board of the Tufts
Medical Center, a not-for-profit teaching and research hospital based in
Mr.Suliman has extensive corporate restructuring, capital formation, mergers,
acquisitions and public company experience, including as a board member and
executive officer of NationsRent, Inc., a company that had publicly issued
debt. NationsRent faced liquidation at the time entities controlled by
Mr.Suliman and The Baupost Group began acquiring control of the company.
NationsRent was subsequently sold for approximately $1 billion. He previously
served on the board of directors of numerous public companies and is a past
Trustee and Chairman of the Investment Committee of The Charles River School.
Mr.Suliman is also the largest shareholder among our current directors.
Mr. Cowger has served since November 2009 as Chairman and Chief Executive
Officer of GLC Ventures, LLC, a business consulting services company.He
retired as Group Vice President of Global Manufacturing and Labor Relations
for General Motors Corporation in December2009, a position that he held since
April2005. Mr.Cowger began his career with General Motors Corporation in
1965 and held a range of senior leadership positions in businesses and
operations in several countries, including President of GM North America,
Chairman and Managing Director, Opel, AG, and President of GM de Mexico. In
2006 he was elected to the National Academy of Engineering and served as the
Co-Chair of the Martin Luther King Memorial Foundation's Executive Leadership
Cabinet. He has been a director of Delphi Automotive PLC since
November2009.He is the immediate past Chairman of the Board of Trustees of
Kettering University and is on the Board of Trustees of the Center for
Mr.Cowger has extensive leadership, manufacturing and public company
experience. Through his substantial experience in the automotive industry
across global markets, Mr.Cowger provides industry and operational expertise
and strengthens the Board of Directors' global perspective.
Tecumseh Products Company is a global manufacturer of hermetically sealed
compressors for residential and specialty air conditioning, household
refrigerators and freezers, and commercial refrigeration applications,
including air conditioning and refrigeration compressors, as well as
condensing units, heat pumps and complete refrigeration systems. Press
releases and other investor information can be accessed via the Investor
Relations section of Tecumseh Products Company's Website at www.tecumseh.com.
SOURCE Tecumseh Products Company
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