ORLANDO,
Fla., May 8, 2023 /PRNewswire/ -- VOXX
International Corporation (NASDAQ: VOXX), a leading manufacturer
and distributor of automotive and consumer technologies for the
global markets, today announced that its Board of Directors
unanimously approved the nomination of Steve Downing as a Director of VOXX for the
upcoming Fiscal Year at its 2023 Annual Meeting of Stockholders.
Mr. Downing is currently the President and Chief Executive Officer
of Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital
vision, connected car, dimmable glass and fire protection
technologies. Additionally, the Company disclosed that Peter A. Lesser, who has served on the VOXX
Board of Directors since 2003 will not stand for re-election.
John Shalam, Founder of VOXX and
the Company's Chairman of the Board commented, "I would first like
to thank Peter for his significant contributions as a Director and
for his stewardship and friendship throughout the years. After more
than two decades with VOXX, he has decided to step down as of our
Fiscal 2023 annual meeting to enjoy more time with his family. I am
also excited to announce Steve's nomination as an independent
director and believe our Company and shareholders will benefit
greatly from his extensive experience in our industry. He has a
strong and well-deserved reputation and an impressive track record
throughout his career. Our Board looks forward to working with
Steve in the years to come."
Mr. Downing added, "It's an honor to be nominated by the VOXX
Board and with shareholder consent, I look forward to serving in
this role with the same dedication and passion I have at Gentex and
my other endeavors. VOXX is a worldwide leader across many
industries with a long history of innovation and I am excited to
help explore mutually beneficial ways to drive growth in our
respective businesses and enhance value for our stakeholders. I
have the utmost respect for John, Pat, Beat, and the VOXX team
members that I have worked with in the past and look forward to
supporting the Company's vision in this role."
About VOXX International Corporation
VOXX International Corporation (NASDAQ: VOXX) has grown
into a leader in Automotive Electronics and Consumer
Electronics, with emerging Biometrics technology to capitalize on
the increased need for advanced security. Over the past several
decades, with a portfolio of approximately 35 trusted brands, VOXX
has built market-leading positions in in-vehicle entertainment,
automotive security, reception products, a number of premium audio
market segments, and more. VOXX is a global company, with an
extensive distribution network that includes power retailers, mass
merchandisers, 12-volt specialists and many of the world's leading
automotive manufacturers. For additional information, please visit
our website at www.voxxintl.com
Safe Harbor Statement
Except for historical
information contained herein, statements made in this release
constitute forward-looking statements and thus may involve certain
risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the
Company assumes no responsibility to update any such
forward-looking statements. The following factors, among others,
may cause actual results to differ materially from the results
suggested in the forward-looking statements. The factors include,
but are not limited to the: risk factors described in the Company's
annual report on Form 10-K for the fiscal year ended February
28, 2022, and other filings made by the Company from time to
time with the SEC. The factors described in
such SEC filings include, without limitation: the impact
of the COVID-19 outbreak on the Company's results of operations,
global supply shortages and logistics costs and delays;
cybersecurity risks; risks that may result from changes in the
Company's business operations; our ability to keep pace with
technological advances; significant competition in the automotive
electronics, consumer electronics and biometrics businesses; our
relationships with key suppliers and customers; quality and
consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price
and product competition; new product introductions; foreign
currency fluctuations; and restrictive debt covenants. Many of the
foregoing risks and uncertainties are, and will be, exacerbated by
the COVID-19 pandemic, the War in the Ukraine and any
worsening of the global business and economic environment as a
result. The Company assumes no obligation and does not intend to
update these forward-looking statements.
Investor and Media Relations Contact (for
VOXX):
Glenn Wiener, GW
Communications
Email: gwiener@GWCco.com
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SOURCE VOXX International Corporation