TriMas Announces Appointment of Shawn Sedaghat to Board of Directors
TriMas (NASDAQ:TRS) today announced that its Board of Directors has appointed Shawn Sedaghat as a new independent director, effective February 10, 2025. Mr. Sedaghat will serve as a Class III director, and will also serve on the Governance and Nominating Committee. Mr. Sedaghat has more than four decades of global business experience focused on the packaging industry and working with key consumer products companies. With the addition of Mr. Sedaghat, the TriMas Board of Directors now comprises nine directors, eight of whom are independent. TriMas takes a proactive approach to board refreshment and regularly reviews the Board's composition to ensure it has the right mix of expertise and experience to oversee the Company's strategy and execution, as demonstrated by the appointment of a new independent Chairman, Herbert K. Parker, in 2024, and the appointment of three new directors since 2020.
"We are pleased to announce Shawn's appointment to the TriMas Board," said Herbert K. Parker, Chairman of TriMas' Board of Directors. "He has a wealth of expertise in driving growth and value creation within the manufacturing and packaging sectors through innovation and operational excellence. In addition, adding a key shareholder perspective to the TriMas Board further strengthens the alignment between our strategic direction and the interests of our investors. We look forward to benefiting from Shawn's expertise as we optimize our portfolio, improve operational efficiency and continue to explore opportunities to enhance shareholder value."
"I am excited to join the TriMas Board and look forward to working with my fellow directors to drive long-term value for all shareholders," said Mr. Sedaghat. "I invested in the Company because I believe there are significant upside opportunities to be realized and plan to leverage my experience to help drive sustainable growth and deliver value to all stakeholders."
About Shawn Sedaghat
Mr. Sedaghat currently serves as the Chairman of the Board of Directors of Trend International Holding AG, an investment holding company with interests in real estate, public and private debt, equity and other investments. Mr. Sedaghat co-founded SEDA Specialty Packaging Corp. ("SEDA"), a manufacturer of plastic packaging products, in 1984, and served as Chairman of the Board and CEO of SEDA from 1995 until its sale to CCL Industries Inc. ("CCL") in 1997. Following the sale, Mr. Sedaghat became a divisional President and served as a member of CCL's Board of Directors through 1999, at which time he became a consultant for CCL. After leaving his role as a consultant at CCL, in 2001, Mr. Sedaghat founded PKG Group, LLC ("PKG"), a dispensing and packaging company, and served as PKG's CEO until 2015. In 2005, while leading PKG, Mr. Sedaghat founded Gotha Cosmetics S.R.L. ("Gotha") and served as its CEO from 2005 to 2008 and again from 2015 to 2017. He also held the role of Chairman of Gotha Cosmetics USA, Inc. from 2017 to 2019, and has served on the Board of Directors of Gotha since its inception. In late 2016, Mr. Sedaghat sold a majority stake in Gotha and formed a partnership with Capvis AG (formerly Capvis Equity Partners AG), a leading Swiss private equity firm, to expand Gotha's operations, research and development capabilities, and growth initiatives.
About TriMas
TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,400 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol "TRS," and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimas.com.
Notice Regarding Forward-Looking Statements
Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas' business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations, including, but not limited to, risks relating to tensions between the United States and China; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; changes to fiscal and tax policies; intellectual property factors; litigation; contingent liabilities relating to acquisition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises, the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; our ability to successfully execute our strategy to enhance shareholder value; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The risks described 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. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.
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Sherry Lauderback
VP, Investor Relations & Communications
(248) 631-5506
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